The unregulated multibillion-dollar life coaching industry can be a haven for discredited therapists

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Some therapists who have lost their licenses have rebranded themselves as "life coaches." The life coaching industry generated $4.5 billion in revenue in 2022. Life coaching is an unregulated industry, so prospective patients should tread carefully. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement When therapists lose their licenses, even for serious offenses, they don't always have to change careers. They can try "life coaching" instead. Life coaches are wellness professionals who offer clients advice on improving their lives. Unlike therapists, they're not required to be trained or held to ethical guidelines, and they are not regulated by the state or federal government. This loosely defined group of professionals generated $4.5 billion in revenue in 2022, according to The International Coaching Federation. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .