Financial coaching is distinct from financial therapy (a licensed mental health practice) and from financial advising (a regulated investment activity). As a coaching service, financial coaching fees are not typically covered by extended health benefit plans in Canada, though some employee assistance programs include financial wellness coaching as a covered benefit. Check your employer's EAP for details. The cost of financial coaching is also not currently a deductible medical or therapeutic expense under the Income Tax Act, though some business owners may be able to deduct coaching fees as a business expense if the coaching relates directly to their business finances. At Adeline Financial, we offer a free complementary consultation so you can experience the value of the conversation before making any commitment.