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Financial Planning for Coaches: Frequently Asked Questions
Quick answers to help you decide whether De Castro Wealth is right for you and your coaching business.
Who do you work with?
I work with online coaches and consultants across Canada who earn $10K+/month and want a clear plan for their money. Clients are both sole proprietors and incorporated business owners. I’m based in Ottawa and meet with clients virtually. Insurance services are available to Ontario residents.
How much does financial planning cost, and how are you paid?
Financial plans are a flat fee agreed upfront: $3,500 for sole proprietors and $4,500 for incorporated coaches. If you choose to invest through ModernAdvisor, my investment partner, I receive an ongoing advisor fee based on the amount invested. If you get insurance coverage through me, I’m paid a commission by the insurer. You’re always free to implement your plan wherever you like.
How much should I pay myself as a coach?
It depends on your personal expenses, your business’s cash needs, and your savings goals. A good starting point is a steady monthly amount based on your average income, not your best launch month, with extra income kept as a buffer in the business. Your plan sets your exact number.
Can self-employed coaches get parental leave benefits?
Yes, if you opt in. Self-employed Canadians can register for EI special benefits, which include maternity and parental benefits, but you have to register at least 12 months before claiming. Your plan will also cover how to self-fund time off.
Do I need to be incorporated first?
No. Many coaches I work with are sole proprietors. Part of your plan is deciding whether and when incorporating makes sense for your income and goals.
How is a financial planner different from my accountant?
Your accountant focuses on taxes and filing. A financial planner looks ahead at your whole financial life: how you pay yourself, protecting your income, saving for retirement, and big decisions like buying a home. The best results come when we work together, so I coordinate directly with your accountant.
Should I use an RRSP or TFSA if I’m self-employed?
Often both, but the right mix depends on your income and how you pay yourself. One thing many coaches don’t realize: if you’re incorporated and pay yourself only through dividends, you don’t build new RRSP contribution room. That’s why your pay strategy and retirement plan need to be planned together.
Do you only work with clients in Ottawa?
No. I’m based in Ottawa and work virtually with coaches across Canada.
De Castro Wealth Services Inc.
Financial planning for online coaches across Canada
Ottawa, Ontario
© 2026 De Castro Wealth Services Inc. All rights reserved.
Rianne de Castro, CFP®, provides fee-for-service financial planning through De Castro Wealth Services Inc. to clients across Canada. Rianne is licensed to sell life and accident & sickness insurance in Ontario; insurance products are offered through Financial Horizons and are available to Ontario residents only. Investment accounts are offered through Modern Advisor Canada Inc., a registered portfolio manager, which is solely responsible for managing client accounts. Rianne receives an advisor fee from Modern Advisor for client referrals.