How the Cohort Model is Refreshing the Financial Coaching Training Approach
Since the inception of the cohort model back in 2015, FELI has trained over 650 nonprofit staff representing over 200 unique organizations that received training. In 2024, the United Way of Massachusetts Bay partnered with the Midas team to relaunch the program. Most importantly, the program formally partnered with the AFCPE (Association for Financial Counseling & Planning Education). The program asked the question, does a cohort model improve capacity, employee retention, and effectiveness of financial coaching services for low to moderate income services? In two years, we’ve seen the impact on the community built among professionals who participated in the cohort setting. This is a practical take on adult education, and it leans on a cohort-based approach to financial coaching for targeted workforce development. In a recent case study, prepared by our partners at AFCPE, their findings validate what we've witnessed firsthand is that our cohort model is creating meaningful, lasting impact for coaches and in turn their clients.
We're particularly proud that AFCPE has recently highlighted our partnership and its impact. This case study offers a data-driven look at the tangible outcomes of our collaborative approach to workforce development. The study details how our partnership addressed a critical challenge: financial counselors in our network lacked formal certification despite delivering valuable community services. By creating accessible, mission-aligned training pathways, we've been able to validate their experience and enhance their professional standing.
Key metrics from the case study include:
29 professionals enrolled across two AFC certification cohorts
31% achieved full AFC certification
79% of certified AFCs retained in the field
62 professionals completed Money Management Essentials training since 2024
We invite you to explore the case study to gain deeper insights into this transformative approach.
Our cohort-based approach brings together practicing financial coaches in a collaborative learning environment. Practitioners journey through their professional development as a unified group, sharing insights, challenges, and successes along the way. This model creates a powerful support network that extends well beyond the training period, fostering professional relationships that continue to enrich their work. The work does not stop at certification! FELI also partners with other organizations to offer a well-rounded approach to coaching. This includes a 3-part workshop series focused on Executive Function Coaching Skills facilitated by EMPath (Economic Mobility Pathways). In addition, coaches also have the opportunity to receive training on other topics including most recently, how to actionize benefit cliff tools in the workplace taught by the United Way of Pioneer Valley.
Through FELI’s comprehensive surveys conducted at 6-month and 12-month intervals post-completion, we've gathered direct insights from program participants about their professional journeys. These findings represent the real-world experiences of our students as they apply their training in the field:
Exceptional Completion Rates: Our data shows that participants in our cohort model complete the program and improve their scores along the way. Participants are required to complete pre-and-post assessments, and we see that average scores rise from 62.5% to 86.5%.
Confidence in Practice: Graduates consistently report greater confidence in applying financial coaching concepts in real-world settings. They attribute this to the practical, hands-on learning environment and peer support inherent in our cohort model.
Measurable Community Impact: Organizations employing individuals who have completed training through FELI have reported tangible improvements in the coaching quality of their staff.
Stronger Workforce Retention: Additionally, FELI has seen higher job satisfaction and longer retention among financial coaches trained through our cohort model. This directly addresses the workforce stability challenges that have historically affected this sector, creating more sustainable career paths for practitioners.
These outcomes reflect our commitment to not just training financial coaches, but building a stable, effective workforce that creates lasting change in the communities we serve. Access to accurate, culturally relevant financial coaching is a critical tool for economic mobility and stability. By developing skilled, confident personal finance coaches through our cohort model, FELI is building a workforce equipped to address complex financial challenges at the community level. The collaborative nature of our approach ensures that coaches don't just learn technique, they develop a shared understanding of the systemic barriers facing low to moderate income communities and cultivate strategies to address these challenges effectively. This holistic perspective is essential for creating lasting financial change. When we invest in collaborative, community-focused training for financial coaches, we create exponential impact. To better serve our communities, we must work together.
Are you interested in joining our next financial coaching cohort? We'd love to connect with you about how this approach might benefit your staff.
Apply today for the Spring 2026 Cohort for Money Management Essentials, applications close Friday, May 15th.
