Financial coach vs financial adviser (UK)
The short version: a financial adviser tells you what to do, and is regulated for it. A financial coach helps you work out what to do yourself, and is not. Both can be worth paying for, for different questions. Neither is automatically better, and plenty of people use both at different times. For the wider picture, including free options, see do I need a financial adviser.
Delphina provides guidance, not regulated financial advice.
The legal difference
In the UK, giving a personal recommendation about a specific pension, investment or protection product is regulated advice. Only firms authorised by the Financial Conduct Authority can do it, and anyone giving it must hold a recognised qualification. Because it is regulated, you can complain to the Financial Ombudsman Service if the advice was unsuitable, and the Financial Services Compensation Scheme may pay out if the firm has failed.
A financial coach is not authorised to give that recommendation. A good coach is clear about the line: they will help you understand your pension, your spending and your options, test scenarios with you and hold you to a plan, but they will not tell you which fund to buy or whether to transfer a pension.
Side by side
| Financial adviser | Financial coach | |
|---|---|---|
| What you get | A personal recommendation on what to do | Help understanding your position and options |
| Regulation | Must be authorised by the FCA | Not regulated as advice |
| Can recommend specific products | Yes | No |
| Range | Independent: whole market. Restricted: a limited range, which they must tell you | Not tied to any products |
| How they are paid | An agreed fee (no commission on investment or pension advice since 2013) | A fee per session or programme |
| Typical cost | Initial fee of 1% to 4%, then 0.5% to 1.5% a year, or a fixed fee | A fixed fee per session |
| If something goes wrong | Financial Ombudsman Service; FSCS if the firm fails | Depends on the coach |
| Required by law for | Transfers of safeguarded benefits over £30,000 | Nothing |
Adviser fee ranges from Which?, checked 28 October 2026. See how much a financial adviser costs.
What a financial adviser is for
An adviser earns their fee on decisions that are complex and hard to reverse, and where you want someone accountable for the answer. Typical examples are turning a pension into a retirement income, inheritance tax planning, investing a large lump sum, and pension transfers. For a final salary pension worth more than £30,000, regulated advice is a legal requirement before you can transfer.
Ask whether an adviser is independent, meaning they consider the whole market, or restricted, meaning they recommend from a limited range. Both are allowed; you are entitled to know which you are dealing with. Check any firm on the FCA register.
What a financial coach is for
Coaching suits questions where the hard part is understanding rather than choosing a product. Am I on track? How much should I be saving? What happens if I go part-time, or retire at 60 instead of 67? Where is my money actually going? A coach works through your real numbers with you and helps you build the habits and confidence to keep on top of them.
Coaching also tends to suit people who want to stay in control of their decisions, and people who are not yet sure whether they need advice at all. Read more on what a financial coach does in a session.
Which do you need?
A coach may suit you if
- You want to understand your options before deciding
- Your question is "am I on track?" rather than "what should I buy?"
- You prefer to make your own decisions
- You want accountability to follow through on a plan
An adviser may suit you if
- You want a specific recommendation on a product or transfer
- The decision is hard to undo
- You want Ombudsman and FSCS protection on the outcome
- You would rather delegate the decision
Still unsure? Our guide to whether a financial adviser is worth it works through the trade-off, and one-off financial reviews covers options with no ongoing fee.
Delphina coaching
Delphina offers coaching, not regulated advice: a starter session at £99 or a comprehensive session at £249, with no commission and no products to sell. If a session shows you need regulated advice, we will say so.
Questions
What is the difference between a financial coach and a financial adviser?
A financial adviser is authorised by the FCA to give regulated advice: a personal recommendation about what to do with your pension, investments or protection. A financial coach is not, so they help you understand your position and options and make your own decisions, without recommending specific products.
Is financial coaching regulated in the UK?
Not as advice. Coaching is guidance, so it is not covered by the Financial Ombudsman Service the way regulated advice is. Some coaches belong to voluntary professional bodies. Check what a coach will and will not do before you book.
Do financial advisers earn commission?
Not on investment or pension advice: commission on new advice was banned from the start of 2013, so advisers agree a fee with you instead. Commission is still allowed on some other products, such as protection insurance and mortgages, and the adviser must tell you about it.
Can a coach help with a final salary pension transfer?
A coach can help you understand the trade-offs, but if the safeguarded benefits are worth more than £30,000, the law requires you to take regulated advice before transferring. Only an FCA-authorised adviser can give it.
Can I use both?
Yes. Some people use coaching to get clear on their numbers and goals, then take a specific decision to a regulated adviser. Arriving at an adviser meeting with your position already understood can make the advice quicker and cheaper.
More on financial advice
- Do I need a financial adviser?: The overview: the four kinds of help and how to tell which you need.
- How much does a financial adviser cost?: Initial and ongoing fees, and what 0.75% a year does to a £100,000 pension over 20 years.
- What does a financial adviser do?: The role step by step, how it differs from a planner, wealth manager or coach, and how advisers charge.
- Is a financial adviser worth it?: When the law requires advice, when it earns its fee, and when guidance is enough.
- Getting a one-off financial review: Fixed-fee advice, Pension Wise, MoneyHelper and coaching: what each covers and costs.
- What does a financial coach do?: A session-by-session look at financial coaching in the UK.
- Getting a second opinion on your financial adviser: How to check advice you have already been given, and what to ask.
- How to leave your financial adviser: Stopping ongoing fees, moving your pension and what you keep.