How Trauma Launched a Successful Financial Coaching Business with Catherine Morgan [Ep29]

Updated: Jul 8

Welcome to episode 29 of The Innovating Advice Show. 

I’m joined by Catherine Morgan, a multi-award-winning financial coach and founder of The Money Panel in the UK. 

In this episode, Catherine recounts a traumatic experience when her second son was an infant and shares how that trauma ended up playing a big role in her career trajectory and what she’s built at The Money Panel. 

Catherine has done it all: she’s got a podcast, online courses, Facebook community and she also shares two new projects at the end – The Initiative for Financial Wellbeing and an online coaching course she’s created for financial advisors.  

Resources


Guest Bio

Catherine Morgan is a multi-award-winning financial coach and founder of The Money Panel in the UK. 


Having worked in banks since the age of 18, she became disillusioned with the focus on complicated financial products. She then discovered financial coaching and has built a hugely successful financial coaching business in the UK. 


Catherine is also on a mission to help more financial professionals explore the emotional and practical sides of money through a new online coaching programme. 

Timestamps

00:43 – Introducing Catherine Morgan

02:15 – Going back to work after maternity leave

03:10 – The traumatic experience when her son was an infant

09:57 – Being diagnosed with PTSD

11:45 – When it clicked: Many people don’t understand money because nobody ever taught them

14:00 – It’s not just about selling products, it’s about helping people improve their relationship with money

16:27 – Resigning from working at the bank

17:15 – Learning that working at an IFA isn’t any better

18:10 – Finding a forward-thinking firm and getting into financial planning

19:05 – Getting coached on financial planning

20:46 – Is it possible to make money from financial coaching?

21:45 – Don’t get hung up on qualifications

23:25 – The biggest challenge: the ability to really listen to your client

24:41 – How to get your client to implement your advice: getting down to the subconscious beliefs 

28:05 – Recommended book by Mark Wolynn. It Didn’t Start with You: How Inherited Family Trauma Shapes Who We Are and How to End the Cycle

28:50 – The importance of observing the conflicting values in your clients

29:52 – Why as an advisor you need to understand your own relationship with money

30:55 – The coaching program for advisers she just launched

33:50 – How to decide where to focus first: focus on what you are passionate about and just get started

34:15 – The benefits of podcasting

36:02 – Go step by step

37:14 – Purpose and passion: think about how much impact you can have on others

38:36 – The Initiative for Financial Wellbeing

Propelling the global financial planning profession forward for the benefit of all people. 

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