There is industry, academic and regulator agreement that quality financial advice in Australia has long-term benefits for all stakeholders. Economically, the benefits include a nation that is less reliant on social security and other government services. Financially, it can mean individuals will have improved savings and adequate insurance cover. Psychologically, the positive correlations between financial and physical and mental wellbeing are well established in the literature. The industry's regulator, Australian Securities and Investment Commission (ASIC) and emerging research suggests that to improve the quality of financial advice and realise these benefits, financial advisers should take on a teaching and coaching role. Our survey of clients from a financial coaching practice provides empirical evidence to support these suggestions and shows how and where the client benefit s occur in a financial coaching-advice model. These findings make an important contribution to the evolution of quality financial advice and inform the current position of the regulator and future policy development.