#134: New Laws that Affect Financial Coaches
In this episode recorded on April 1, Josh and Emily discuss a new law, AB0401, the Financial Obligation Omnibus Law, that restricts what people are allowed to talk about in regards to finances, shorted to the April Fool Law…ha…ha…ha. We are actually discussing general laws around financial coaching and lawsuits around financial coaching that may lead to increased regulation.
Top things to think about
- The Investment Advisors Act is one thing to keep an eye on.
- Different states have different laws about who is required to register as an investment adviser.
- The more lawsuits that are brought against “financial coaches,” the more likely it is that regulation will come.
- FCN plans to stay on top of this and monitor things so we can help out if/when regulation happens.
- We will probably see potential regulation at least a year beforehand, so we’ll have some time to prepare!
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
- Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
- Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
- Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
- Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
