From the November 2008 issue of Investment Advisor • Subscribe!

November 1, 2008

Compensating a Coach

Sidebar to Feature article: "In the Game"

"The bottom line is you need to ask about return on investment, and specific experience with investment advisors," cautions Doug Gray, vice president of learning and development for Rich Campe International, LLC. ". "Some people may say that their business s up 50% after working with a coach, especially if that was a direct result that they wanted from coaching, and there are other results that vary from 100% ROI-500% ROI. It's a tough thing to measure, but if a potential coach doesn't know what ROI is," counsels Gray, "the advisor needs to say 'See ya.'" Additionally, if someone's business is not up significantly after investing in a coach for six months or more, something's wrong. "Then the coach is not providing content or encouragement, or the client is not doing the work," Gray says. "If that's the case, you've got a bad match and you need a different coach."

As for compensation, direct pay, usually a credit card system set-up, seems to be the more popular methods of payment. Fees, though, vary tremendously. Prices range from $500-$1,200/month. However, the common mantra among both advisors and coaches is "You get what you pay for."

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