Why I am Not a Ramsey Preferred Coach
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- Опубликовано: 1 дек 2020
- As you can tell from today's video title, I explain why I decided not to become a Ramsey Preferred Coach. It's one of the most common questions I got from my FCMT Review video. At the time I graduated FCMT I knew it wasn't a good fit. I was still working corporate and not ready to begin a coaching practice outside of Beta Clients. In that time, they fees for RPC increased A LOT. That and other reasons, are why I chose to to stick with the traditional ways of getting clients.
Thank you for watching!!
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I'm much like you in that I can agree and relate with Dave in many ways but not in every way. Dave inspires me by having the desire to not only help people to accumulate wealth but to also share that wealth through generous giving once you have conquered your debt. However, it is a rigid program and not suited for every situation. I could make a sizable list of disagreements.
Due to the pandemic Ramsey seminars are not available in a public forum. That loss of revenue is most likely the cause of the increase of costs to his coach's and I'll bet for his structured programs. Happy to hear your not leaving one structured work environment just to join another one that stifles your creativity and passion. Your spirit shines.
You said that perfectly, and thank you so much for watching!
Appreciate your honesty and transparency! I was part of the RPC program and left as soon as the jacked the rates from $59/mo to $149 at the "drop" of a conference call. I was also completely underwhelmed by the leads and the ongoing "training". I'm so much happier on my own and have never looked back. Great video!
Would love to hear more about your coaching story if you ever have time! Let me know if you have social media I can follow. Also, there’s a Facebook group I LOVE that’s given tons of inspiration and free content. It’s “Financial Coaches Unite” and is hosted by Kelsa and Michael Dickey and their team. Highly recommended!
And thanks so much for watching and commenting your experience - much appreciated!
@@PictureItPF Also, just subscribed to your channel!
How many leads were you getting on average?
@@KP-uz3nk Maybe 5-6 per month. It's actually hard to remember. I've put it out of my mind at this point. :)
As I read this, I am reminded of why Dave seems to be okay with MLM’s. When challenged on their validity, his critique is limited to how low the odds are of succeeding financially. He fails to condemn the societal devastation that is inherent.
Great video. We appreviated Dave's drive, but we did his steps out of order and it all still worked for us. I've never thought about what it's like for the coaches. I could listen to basic financial and numbers talk all day long.
I am doing research on a finance coaching certification. I am a beginner and this video was helping! Thanks for posting!
I'm glad it was helpful to you!
Thank you for creating this video. It really helped me make a decision about taking the FCMT course.
I’m glad it was helpful to you.
I really appreciate you making this video. I know I want to be a financial coach, I also know that with my background and being in Canada I wouldn't be able to do it as Dave Ramsey does. I was thinking of taking the FCMT for additional training
Thanks for watching and commenting! I saw your comment on the FCMT video too. You should consider following some other coaches - 2 off the top of my head are Financial Coach Jess (she offers a lot of great advice on her channel) and also the Financial Coach Academy. I follow much of their content and have learned a ton. The creator of FCA also has a great book that can help you get started. It's the Financial Coaching Playbook: amzn.to/3eUmbWc
PS. that's an affiliate link, so if you buy after clicking through I get a small commission.
Appreciate your honesty! 👏
Thanks so much for watching! I love your content.
@@PictureItPF aw thank you! and you're welcome!
The goal of business is not to work with everyone, it's to work with people who believe in what you believe in. And with what you are saying that's exactly what you'll be doing. Best of luck to you and the business.
It took me a while to come to this conclusion, so the affirmation is much appreciated. Thanks for watching and for commenting!
I think your review is spot on there are a few things Dave likes that I do not like.He does not compell you to follow exactly in lockstep but if he does I will face that truth at that time so far I follow his ideas
Thanks for your view.
Tom
Thanks for sharing! I'm always grateful to hear another person's take.
Well said, I searched out an ELP insurance proider 7 years ago and still use him. Also a tax person and have kept him for 9 years But both have quit Dave for the exact same reasons you have stated. They both said the clients they got overall were not worth the investment monthly costs.
Congrats on developing such great long term relationships with your insurance and tax providers! They must be stellar and know their clients well. I'm glad to hear successful and long-standing providers came to the same conclusion.
Thanks for this video. I appreciate it very much! It helped tremendously. I’m actually the type of person you described at the end and it really helped put things into perspective about the training and whether it would be worth the investment. I’m a ‘follow the steps’ kind of person and would likely coach people to do what Dave’s tells them to do. Your video gave me deeper insight into the training so much appreciated.
Just an FYI: the training program no longer has a monthly fee but is currently $3,495.00 for the training 😲
Thanks so much for commenting! I usually get people who feel like I've affirmed why they don't want to follow the DR program. I am really happy that this video now helped somebody make the opposite decision! Good luck to you and I hope your coaching practice has great success.
This is a great assessment- and well balanced. Many of the same reasons I am not a Ramsey financial advisor- stay true to what you know to be true and correct.
Thanks for watching and commenting. It’s appreciated!
Great information. I think if you're 75% true to Dave, and take into account your personal circumstances, it works.
Thanks very much for watching! Totally agree with aligning 75% with Dave. That's essentially what my husband and I did, that's why I often refer to Dave when telling my personal story about improving my finances.
Dave should make it a requirement for each preferred coach to take FPU classes and then lead coordinate first. I agree with you. I've done it over 10x to include a 3x graduate. I am living debt free and definitely a supporter of the baby steps. I was able to expand my wealth management practice way beyond them, but they are foundational. I go back to them often. Teaching financial literacy, business strategizing with Entreleadership tools, and facilitating virtual groups for FPU are all leading my decision to become a preferred Ramsey Coach.
Thank you for telling us your experience. I hope that you confidently pursue your dreams and lead in what works for your level of expertise. You can leave room to be as flexible as you need in order to learn from the experiences as well. It's not all about the clients, but then sometimes it is! Bend..
I love that your experience with Ramsey's program have been so productive and expanded how you serve your clients.
Thank you for this video. I listen to the Ramsey Show podcasts, but I don't fully agree with all that he teaches. There is no "one size fits all". Thank you for your integrity!
Glad it was helpful to you!
Thank you for posting this video, I appreciate your authenticity. I am a CPA and looking to branch out into Financial Coaching and I am looking into doing the FCMT program. I also agree with only part of what Dave teaches and I don't agree that his approach is right for everyone. Would you still recommend the FCMT program and not the Preferred Coaching referral program? I appreciate any other resources that you recommend that I may look at before deciding to do the FCMT.
I saw you also commented on my FCMT video. I want you to know that I'll post an updated video on what I think of FCMT after coaching full time for one year. I'll include questions to consider when deciding whether or not to purchase his program. Thank you for watching and for commenting!
Based on when you jumped in the program, I understand your price concerns.
However, with context, I have been a financial coach for 11 years (The entire time with the RPC program). When I first started it was $175/month for one zip code in a 75 mile radius. If I was lucky I would get four leads per month.
Also it cost me almost twice as much as FCMT + travel costs. It was still worth it (and all I had was a 3 ring binder and my notes).
RUclips was acting wonky - I saw this comment, then it disappeared and now it's back. I know I already responded to your other comment, but wanted to add that I find it interesting the price was originally $175/month. That actually lessons my concern over the current price know that it used to be so much. I also love that you did the in person training - I really considered it and waffled for 2 years. I simply couldn't bring myself to do it when I traveled so much for my corporate job. So I jumped as soon as I saw they had an online option. Anyway - thanks again for watching.
Great video. New sub....
Thank you. Much appreciated!
I love a lot of what Dave says, but I do not think it’s one size fits all. I applaud you for not selling out to be one of his coaches.
When I worked corporate, we used to say "there is no silver bullet." In other words, one solution doesn't meet all your needs. Thanks so much for watching - it's genuinely appreciated.
This is why I followed him and found a company and friend he used to be with that follows the same principles 👍
That’s a great approach. Learn what you like about it and then interview the people you may work with so you know they will coach in alignment with your principles.
Your reason number 2 is simply a WOW
There is so much efficiency and confidence that comes from serving the clients you are best suited to serve. Thanks very much for watching and commenting!
Chiming in on this video a tad late as it just came up in my YT suggestion feed. I just completed the DR FPU course online with a lady from my Church who facilitated it via ZOOM. After about 3 weeks in I found certain aspects of it very unrelatable, i.e. buying a home, funding a kid's college, insurance, etc. Not to mention BS 1 & 2 save for an emergency fund 1st before paying off debt, which I actually reversed. The facilitator (the lady who led it) was nice enough but seemed a bit pushy at times, constantly advertised DR's other products, and came from it's Dave's way or hit the highway point of view which made her seem a tad un-genuine. I'm not knocking Dave's way but did feel it was kinda cookie cutter sales pitch during the ride. In any case, your candor, honesty, and nuggets of wisdom you dropped here sums up exactly what I was vibing from the course, Ty & Stay Blessed👍🏽🙂🙏🏽
Sorry it took so long to reply. Thank you so much for watching and commenting!
There are some serious Dave fans, and sometimes they think that if you disagree with Dave you must hate him. I actually love Dave. I've lost my parents, and sometimes he throws off a Papa Dave approach that I simply enjoy.
That said, I can still disagree with him, just like I sometimes disagreed with my own dad. There's no such thing as solutions meets all needs, except when it comes to Jesus.
@@PictureItPF Amen🙏🏾💚😉
7:30! Bingo. People need a system .and many are aligned with the beginning chapters of Ramsey’s teachings.
I'm always amused by the comparison between financial fitness and physical fitness. A few months ago I heard another RUclipsr say - you'll get into lose weight and get into shape when pick a diet and stick with it. They all work as long as you pick on and keep at it - and do not keep changing the plan. We all have preferences, but the bottom line is to find a system and stick to it.
Nice content....agree with you even though I like Dave 👍
Thank you very much for watching and commenting!
How does a financial coach get a client? Does David R send leads for those who takes their course? I did not see anything talking about ‘preferred coach’ on the website..only Real Estate and others… tk u
After you complete FCMT, you are given the opportunity to join their Preferred Coach Referral Program. There are several features and they do send leads (based on what others have told me). Otherwise you get leads through your own marketing efforts.
Agree with about 90% of the Ramsay program but I feel it needs to be tweeked for today's economy...
This is a great point. Do you think the baby steps need to be tweaked, RPC, or both?
Also, when I joined there program I was and I am still 100% aligned with Dave. I wouldn’t go through someone’s training program if I wasn’t aligned with their believes. Dave is not the only one like this. So is Mike Michalowicz with Profit First Professionals. I am sure you do a great job but the RPC program is great for those that have fully drank the Ramey Kool-Aid and if you like using multiple approaches that is great. The RPC isn’t for you. Just wanted to give another side to this discussion.
Wow 11 years! That's impressive. I'm glad you're getting so much value out of RPC. This is why I staid in the video that if you're 100% on board with the Baby Steps, love Dave's branding, and are happy to use his content as is - then you should sign up. Sounds like you fit that bill, and still maintain your authenticity.
For me, I never followed Dave 100%. I loved FCMT when I took it, and stand by my review because I learned a lot from it. That said, I also didn't realize there were other programs available. Once I have earn enough to invest in more training, I plan to go through the Financial Coach Academy. I think this program is more aligned with my style and coaching ideals.
I appreciate Dave, I just don't always agree with him. Dave aside, I do appreciate you watching and giving your perspective. I know 3 other coaches who use RPC and recommended it to me - hence my research to begin with.
I agree fully. As much as I love Dave & Chris Hogan, there is not enough flexibility in their methods they are way too rigid. You have to be true to yourself & authentic. You can still learn alot from Ramsey Corp though ! He is so wrong on credit cards. He should teach people how to use them properly. I have 100% discipline and clear my card every week but who can say no to the rewards? I had £186 from Amex last year & its free money! I did not spend a penny more than I would have with cash purchases. Maybe being a RPC for first year could work to learn but ultimately you are just making Dave richer !
Yes! That's exactly how I feel. I love The Total Money Makeover and Retire Inspired. I thoroughly enjoyed his Financial Coach Master Training and thought FPU would have been great had I not taken FCMT first. That said, I never aligned 100% with the Baby Steps. I always keep a credit card (paid off monthly), and I never stopped employer match from happening to my retirement account.
What's more, I once tried to convince a client to combine accounts with a spouse before they were ready to do that and lost the client relationship because of it. This was right after I came out of FCMT and I really questioned myself then if I think combined accounts are necessary - which I don't and never have. But I digress...
Dave does this to help others and RPC at 150 dollars a month is a deal for the coaching and Facebook group alone. Its a no brainer.
I agree with Tina, I just completed the FCMT. It appears Dave has started out as a ministry first in a business second. Now it is a business first. The issue I have is that it is a cookie-cutter business. People's lives are not cookie-cutter. They are all different. Everyone has different experiences. Even when you listen to the radio show he will give new baby steps outside of the regular ones (i.e. Baby 2B, Baby Step 3B, etc.)
As a Christian, not everyone found Christ in the same matter. Some came to Christ as a young boy/child, others came to Christ when they were diagnosed with cancer, others found Christ when their marriage ended. Yes, the Baby Steps are a good foundation/guidelines but it is not for everyone.
@@ouman28 Interesting point about the cookie cutter approach being tweaked with the addition of steps 2B and 3B. It's important to recognize that people can come to financial success (or Christ, as you called out) in different ways.
@@ouman28 I feel like he clearly acknowledges that in general his approach is a framework that has proven successful, but it isn't always set in stone rules you must follow every single time. Like following a resume template. You start with this and make adjustments as you go that suit your specific set of circumstances.
Going your own way seems to make sense.
It's working for me. I still appreciate Dave and reference his process with some of my clients. However I don't feel beholden to the baby steps.
Why would you look at the increase on the fee as an opportunity to gain more clients? Could it be that they increased the fee, because your exposure as a coach would increase at the same time? The value increased. Why would that not be expected to a coach that has worked in corporate where productivity is priority based on clientele?
I"m not sure I understand your question. I think you're asking - Why *wouldn't* I look at taking this fee as the cost of advertising and further consider that the fee increased because their network increased and therefore my exposure would increase? I looked at it like, I'm better off attracting the clients who will appreciate my style and technique. This way they don't expect me to teach the baby steps and zero based budgeting, then get disappointed when I acknowledge that I think it's good to build credit and teach cash flow budgeting instead. I'm not sure what your reference to my corporate background has to do with this. Maybe you can clarify?
I have been a believer in category budgeting since Larry Burkett was on the scene and I do believe in the target of debt free living but always troubled by people I have seen following Dave Ramsey as it always appeared almost as a cult following. So I agree with the principle but like you not sure about the approach.
Thanks so much for commenting. I do also love debt free living, but I learned during my tech career - there is no silver bullet. There is not a one size fits all, and resolves all problems solution. That's why I love coaching people toward the future they want. Always start with the end in mind!
yea, any issues with Dave's approach should not have had you interested in being a "preferred RAMSEY Coach" in the first place. I definitely only had to take one FPU class to know that the Dave Ramsey Network is pro Ramsey's principles and baby steps because they work. If you don't think they work for everyone, then it wouldn't make sense for you to coach doing something else that could possibly make the Network liable. If you want to do it your way, then be your own coach. I think you can still be an advisor or "ELA" ... something like that. Where you get the branding support of the Ramsey Network but you don't have to follow the Ramsey network. It's less intrusive. They just certify your expertise to their network
I don't know how I missed these comments from 2 years ago - but sure appreciate the extra insight you offer. Thanks very much for sharing.
Very Interesting. How to connect with you directly, besides like and subscribe to your channel?
Hi Esteban - You can email me at christina@pictureitpf.com or your can schedule a free consultation here: calendly.com/pictureitpf/complimentary-consultation
I see that being a Dave Ramsey financial coach would be like being a captive insurance agent. I like a lot of his advice, but but have some differing views..
The longer I coach and learn about other programs, the more I think there are better ones out there. I think I may do an updated video about my feelings on FCMT now that I've been a full time Financial Coach for over a year.
Dave has 2.5 million subscribers
Hi - I am an RPC coach. I completely respect your opinion and it sounds like you made the right decision for you, but I wanted to offer a different perspective. I like hearing thoughts I hadn't considered and watched the video to see if there was anything I should be concerned about or reconsider in my decision to be part of the RPC team. While you had some good points it doesn't sound like you ever actually signed up to be an RPC coach? Not a criticism, but a genuine question because I think until you are in the program you're making some assumptions about what it entails (I know you spoke to some RPC coaches, but it wasn't clear how much of what you said came directly from them). First, the price is steep and was one of my main concerns about joining the program. I did it anyway and I am glad I did. You get more than just referrals when you are part of the program - you actually get coaching too. You can participate in group coaching as well as 1x1 coaching and I think any coach will tell you how important it is to HAVE a coach. When you think about that, it's a great deal! $150 a month for unlimited coaching especially for someone just starting out (like me!). That sold me on it, but wait there's more :) . When you take the next level of training, they make it very clear that you should not be relying on this as your sole source of clients and this should really be treated as an adjunct to your personal business. I will also add, I have never been asked to follow any specific formats or use any documentation or basically work in any fashion that I don't consider to be authentically me. They very much encourage you to do your thing as you choose to do it, but they also stress that people coming to you by way of Ramsey Solutions do expect certain things and they are expecting to follow his plan to some extent. I think that is fair! They do the marketing, they have the plan, it's their gig and I am pretty sure if I went this route to find a financial coach, I would expect some semblance of Dave's plan to follow. If I didn't want that I wouldn't be there. One last thing that literally just happened in maybe the last week is that they gave all the coaches access to Ramsey + for free. That alone has a price tag of $150/mth so between the coaching for me, the occasional coaching lead, and the access to the budgeting app (which I really like when I was using it for free, but love the plus version even more), I don't have any issue at all with the price tag or my decision to join the program.
Thanks so much for watching and sharing your experience. I did hear about the extra support via a coaching group/forum. It wasn’t enough to sway me since I’ve found some amazing Facebook coaching groups that are free of charge. That said, I didn’t realize that RPC included a more personalized option for 1:1 Coach feedback. I’m glad you added that insight for other people still considering which way to go.
Much appreciated!
@@PictureItPF I think your assessment of whether or not the program is right for you is spot on. I really like the opportunity to develop my coaching skills. I think most people look at it as THE business, but it is really a tool to help you develop your business and get better at what you do. Perfect for me at this point in my career, but if you're further along on the experience curve you may not get much value from it. I liked the video, comments, and discussions - thanks for being open to my viewpoint!
millions of clients are in the Ramsey network. So you forfeit the opportunity to work with new clients because you have a preference for what kind of client fits your mold and it's outside of the Dave Ramsey culture? Why would you even send in a video or inquire about becoming a coach from this specific network in the first place? What was the initial attraction to the coaching program for you?
That's a great question. I joined FCMT when the idea of being a Financial Coach was completely new to me. I worked a very demanding day job in IT and learned personal finance from books, videos, and bloggers. In the end I wanted something to use as a credential, but I was pretty confident that I didn't want to join a brokerage firm. I truly didn't understand that FCMT had competitor programs - I thought they were unique in a unique space. That said, I don't regret taking FCMT. I took copious notes and I learned a lot. Thanks for commenting!
So DR people don’t make enough for you?
No, that’s not it. I think lots of DR watchers make a to of money, and even when they don’t they could find the money for my program.
When I say they may not be my ideal client, it’s more about the fact that I do mindset and value based coaching. I don’t follow the baby steps.
I think a DR referral would be disappointed with me because I wouldn’t tell them to have a “plasticectomy”, I recommend a $1500 starter emergency fund, and I devote a lot of time learning where my clients want to be in 10 or 20 years. I help them set goals to meet that ideal.
You need to follow you own rules.
Absolutely. I hope that people start by understanding what matters most to them and then crafting rules around that. Thanks very much for watching and commenting!
If you have a credit card them your living above your means. Cash is king
This isn’t true. Many people use credit cards while having the cash in reserve to pay it off asap. I recommend clients maintain a credit card for sinking funds purchases especially travel. Save for your trip, then use your credit card while traveling, then pay off the card when you get home. This gives increased theft protection and ease of budgeting all those transactions. Credit cards are a financial tool.
@@PictureItPF I see I see would you be willing on talking to me maybe you could change my mind on that since your more knowledgeable on the topic than I am , I'm assuming your some time of financial cosh or advisor or whatever lable they use. It would be nice to talk to someone about these types of things to get another option. You could say I'm on Dave Ramsey's baby step 3 right now. So let me know the info on how to book an appointment if your willing on doing that. That would be nice
@@nathandennis8078 You bet. You can find time on my calendar here: calendly.com/pictureitpf/clarity I book about a week out.
@PictureItTina alright fair enough I scheduled it
Dave is too much of *HOLYROLLER*
I understand where you’re coming from. That said, I never felt evangelized to through any of his programs whether that was FCMT, FPU or his symposiums. He’s clear about his faith but doesn’t push it on his clients as far as I can tell.
@@PictureItPF I kinda disagree, like the MORALITY CLAUSE on which they fire ppl
@@ethangamer3173 It wasn't too much religion for me, but maybe I am open to it. I became a Christian a couple years after finding Ramsey - and not because of him. I actually have another video where I explain why I think Ramsey does Christianity a disservice. Anyway, thanks very much for commenting - hope your new year is starting out well.
@@PictureItPF I was raised Catholic but then converted to Hinduism as an adult lol
Exactly. Not worth it.
Good critic. Ramsey’s materials/system doesn’t work best for people with a brain. Dave’s system is for financially illiterate and undisciplined people
Totally agree with your comment about undisciplined. For example with credit cards - if they're a snare for you, then Dave's "plastic-ectomy" is totally in order. It's like me with Oreo cookies. I never want them in the house because I will not stop eating them, haha. I have no discipline with Oreos!
@@PictureItPF I’ve had a credit card for 10+ years and pay the balance off each month while accumulating points for each purchase. Over that time I’ve paid no interest but have collected ~$3000 in rewards. I’ve also enjoyed the protection they provide for identify theft (which happened twice to me) in addition to being able to track, categorize, and analyze spending to prepare my budget each year.
It’s about discipline
@@darbyohara 💯 agree.
In other words poor people don’t call her.
Yikes, that sounds harsh. You're not wrong though (depending on how you define as poor).
Why do you need to mention DR name at all except for the algorithms to drive traffic to your channel?
I create my titles based on what I’m addressing. I get approached by a lot of prospective coaches. Many know that I went through FCMT and want to know if I’m doing Dave’s referral program. Hence the video and the title.
Dave gives bad advice on credit. His target audience is someone who has zero ability and common sense about managing money. Not considering all aspects as options to a financial plan tells me I can not trust him as an advisor.
I agree. I’ve learned more about credit as I serve clients. Credit is used for so much more than getting a loan these days. It can affect your ability to rent, insurance rates, job prospects, and more. Neglecting credit today is a pretty big deal.
I like your approach to managing money. I hope you continue to do well..
@@GBU61 I appreciate that, and thanks for watching!
when you have money you don't need credit
@@eatpigsnot You're not wrong, but credit can still be useful.
Blah, blah, blah….
LOL Thanks for commenting.