What is a financial coach?

What is a financial coach?

September 14, 2021


By Devaughn Dames

Devaughn Dames

Dr. Devaughn Dames is one of the most dynamic speakers, researcher, business consultant, writer, financial analyst, investor, and serial entrepreneur in the world. He’s a strong communicator with an exceptional ability to speak to large groups.

consulting in these fields. To connect with Devaughn, sign up for free / log in on moreandmorenetwork.com

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RTP-BizDevelopment— your coach to help you reach your financial goals!

What is a financial coach?

A financial coach is an advisor who can motivate you to reach your financial and business goals by teaching you money management skills. A business coach can improve your financial literacy by providing you with strategies to organize your finances to maximize your wealth. They may even help novice entrepreneurs with business plans and pitch decks to help achieve their vision and goal. Unlike financial advisors, financial coaches do not give investment advice.  An RTP- BizDevelopment coach takes your comprehensive financial situation into consideration, such as:

    • assess income & consumption habits
    • Creating a realistic budget
    • Outlining a financial plan
    • Creating an emergency fund
    • Building a savings fund
    • Paying off debt
    • Planning for retirement

Services Offered

    1. Legal affiliation for corporate structures
    2. Specialty Trust Management
    3. Pitch deck & Business plans
    4. Capital Raising for Debt & Equity

Everyone can use a financial coach to ameliorate his financial situation. Ask yourself the following:

  • Are you a recent entrepreneur or business owner?
  • Do you need guidance on its specific business structure or legalize?
  • What is your business’s goal, mission, and vision?
  • In what industry is your vested interest?
  • How are you planning on acquiring capital or investors for your business?
  • Do you have benefactors?
  • Are you in need of trust establishment and/or asset protection?
  • What are your retirement goals?
  • Do you have any current estate planning system in place?
  • Do you have debt but are unsure the best strategy?



If you struggle with your budget every month or aren’t moving forward financially, it may be time to switch to a coach for guidance. Most people are oblivious to how much money is coming and going each money; thus, it makes sense to set up a budget. This helps to put your financial situation into perspective and makes tracking your money and spending easier. RTP- BizDevelopment can help you learn how to budget. Instead of sharing a cookie cutter budget, find a budget that works with what you enjoy most. This is called “value-based budget”.  No one else’s budget will look exactly like yours because no one else has the same goals and values ​​that you have.  Regardless of the priorities in your budget, whether it is travel, dining, education, etc., we will help you structure it in such a way that you can save and/or invest every month.


Everyone has different financial goals. For most people, the process involves establishing an end game and working backwards to create a financial plan to meet these goals. This includes making a list of personal financial priorities. Ideally, you have enough money to cover your needs, desires and savings goals.  But if you find yourself short, look for ways to step back. This may mean focusing on the goal of saving one at a time, or finding ways to reduce costs from your needs, desires, or all of the above.  Remember that your money is not fixed and to review and change your priorities as you meet your goals. Every month, monitor your budget, expenditures, savings, income, debt, emergency fund, and investment value.  This may seem overwhelming, so RTP- BizDevelopment can set up an actionable plan in place that works for you.


It is important to determine length of time one needs for his exact budget or plan. This helps ensure that clients stay focused and accountable. RTP- BizDevelopment helps manage and guide their expectations to reach their financial goals (i.e., a debt repayment plan). Budget ensures that you live within your means and RTP- BizDevelopment will give you a specific schedule of when you can expect to be debt free.  An interactive budget calculator spreadsheet will help make the budget preparation process less painful.  If your income is not enough to cover all your expenses, you will have to make some adjustments to your budget.  This is something a credit counselor can help you with.

What can RTP- BizDevelopment do for Me?

Business Structure

The first step is to define the business structure.  The business structure (also called the business entity) that you choose affects the way you submit taxes, your daily operations, and the amount of your personal assets at risk if your business fails.  Since the business structure you choose is fiscally influential, it is important to do so first. Learn how to formalize and grow your business.  Check the employer’s operator panel. Below is a brief overview of some of the more common commercial structures:

Sole proprietorship: This is the default business structure.  If you never define a business structure but run your business, then you are considered a sole proprietorship.  In sole proprietorship, your business, assets, and personal liabilities are not separated.

Partnership: This is the commercial structure of two or more people who own a company together.  There are different types of partnerships.  In a limited partnership (LP) there is usually one partner (general partner) subject to personal responsibility while the other partners (limited partners) have limited responsibility.  Limited liability partnerships (LLP) protect all partners from company debt.

Limited Liability Company (LLC): This business structure allows the employer to protect personal assets from the company’s responsibilities.  The profits and losses of a limited liability company are usually taxed as personal income or loss to members.

C-Corp: This structure makes your business a separate entity from the owners (shareholders).  This means that it is possible to impose taxes on work, make a profit, or take legal responsibility for its actions that are separate and distinct from shareholders.  For this reason, this structure provides the most protection to the personal assets of the owner.  Since the IRS usually views C-Corp as a separate entity for tax purposes, it can be taxed twice: once when C-Corp makes profits, and again when dividends are paid to shareholders.

Legacy & Trust Management

Entrepreneurs may choose to start a business to create a lasting legacy for their families.  Starting a business may allow individuals to enlist family members in the company and employ them to manage work.  Many of the biggest companies started today as simple family businesses. Family businesses are a great tool for building a legacy.  It also has the added benefits of allowing you to be your president and educating your children about ownership.  Encourage them to learn family business and prepare them to take over one day.  If your children aren’t interested in the business, you can sell the company and use the money to distribute the generational wealth in a different way. RTP- BizDevelopment can help you sift through estate and trust planning for your heirs to ensure the sanctity of your wealth and fortune.  RTP- BizDevelopment specializes in REITs, irrevocable, and dynasty-complex trusts for maximum asset protection.

Pitch Deck & Business Plans

The trick to successfully get your company off the ground is meticulous planning and staying on top of the status and performance of every one of the moving parts needed to launch a company. To do this, among other things, you’ll need a business plan and a coach. A business plan is a documentation of the details of your business. If you’re going to be starting a company, you’ll need to outline through a business plan what your company will look like; what product you’ll be selling, how it will be structured, the location of your business, how the market looks like, what funding you’ll need, what your financial projections are, and which permits and other documentation will be required.

You want to make sure you’re well prepared before starting a business. To manage a successful business, you must adapt to changing situations. An in-depth market research in your field and the demographic of your potential customers is an important part of crafting a business plan. This includes conducting surveys, holding focus groups, and searching for general SEO and data. Before you start selling your product or service, you need to build your brand and get followers from people ready to jump when you open your doors to business. RTP- BizDevelopment can coach you through all these steps, including pitch decks for investors.

Raising Capital

Growth and expansion are major goals for most business owners and entrepreneurs.  But how can you expand your business in today’s dull economy and slow growth? All successful small startups eventually face the issue of dealing with business expansion or growth. Business expansion is a stage of a company’s life full of opportunities and risks.  Business growth often brings with it a corresponding increase in the financial wealth of owners and employees alike.  Additionally, expansion is usually seen as validating the idea of ​​an entrepreneur’s initial start-up, and subsequent efforts to achieve this vision.  At RTP- BizDevelopment, we will guide you on your specific business needs, goals, and situation. We will then collaborate and offer tips on how to raise capital for debt and equity in our vast resource of industries including: startups, biotech, infotech, fintech, construction, medical, and real-estate scalable businesses.


For more information about RTP- BizDevelopment services and products, please visit



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