How to Become a Financial Therapist: PLUS who Isn't One
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- เผยแพร่เมื่อ 14 ก.ค. 2024
- HOW TO BECOME A FINANCIAL THERAPIST: PLUS, WHO ISN'T A FINANCIAL THERAPIST
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CHAPTERS
0:00 Intro
0:15 How Financial Therapy Emerged
1:45 Why Behavioral Finance Matters
4:35 Who is a Therapist?
6:17 Professional Red Flags
6:48 Hiring a Financial Therapist & Training
11:13 Where is the Field Going?
14:49 Why Aren't There A Lot of Financial Therapists?
The information and content provided by Lindsay Bryan-Podvin LMSW, LLC/Mind Money Balance is for entertainment and informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. No one should make any investment changes without first consulting his or her financial advisor and conducting his or her research and due diligence. To the maximum extent permitted by law, Lindsay Bryan-Podvin LMSW, LLC/Mind Money Balance disclaims any and all liability in the event any information, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses.
The entertainment provided in these videos is not a substitute for psychotherapy and does not count as a social work service/therapeutic relationship. If you are in need of help, seek services from a licensed healthcare professional: www.therapyden.com
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I am curious how state licensing boards would handle clinicians who are certified in financial therapy. How does one differentiate between their practice of psychotherapy and financial therapy which I’m assuming my licensing board in the state of CA would govern?
GREAT question, Nicole! I'm in the camp that anyone using the term "therapist" needs to be a licensed psychotherapist (as determined by their state and governing board, e.g. Psychologist, Marriage & Family Therapist, Licensed Counselor, Licensed Social Worker, etc.). From there, financial therapy becomes a subspecialty, much like EMDR or CBT. HOWEVER, some people with JUST the certificates in Financial Therapy or Trauma of Money are using those certificates to call themselves "Therapists." IMO, that is unethical and harmful, but it'd be up to the state or a filed complaint from a client/consumer to take that on.
During my studies its very interesting to learn how Financial Therapist without a license, nor having any type of degree requirement if they are able to show therapy "experience" have the ability to become certified and practice in any state as laws do not apply to them. They are claiming and teaching they provide therapy and treat financial "debilitating anxiety & depression" I wish there were more laws and regulation to prevent this type of public deception which puts the public's safety at risk. t would be great if there was a published side-by-side chart to clearly identify and list out the differences between a licensed therapist with financial training & a Finacial Planner with therapy training. Thank you for providing this education so the public is aware and understand the right question to ask before talking to any financial therapist.
Thank you for your thoughts here. I love the idea of a graphic that shares what a person can or can't do to make it easy to see the appropriate credentials and licensing boards that oversee a professional at a glance.
Thanks for your education and this roundup! Didn’t even realize this was a specialization, but love the way you talk about working with emotions about money and empowering with practical inquiry and actions. Looking forward to reading your book!
Yes! It's a newer niche within the world of psychotherapy, and I'm looking forward to more folks getting training so we can include our emotions and lived experiences when we engage with money!
@@MindMoneyBalance yeah, this is something I think accountant should be interested in especially if you’re interested in in the finance building to get burnt out of the finance part but you still want to help people.
Thank you for this important discussion on an emerging therapeutic model!
Of course! Happy to talk about it!
Also, this will be useful since I'm very ADHD.
Love this video - thank you so much! How did you find the TOM course?
Good question! I think I heard about it organically because I'm in the money and mental health space. A few peers went through it, and then it was on my radar. It was about finding the time to get the certification, as my track was 17 3-hour modules!!
Wowee that’s a commitment of time when you already have a lot on your plate.
Also, apologies if you misinterpreted my query 😂 I meant to say how did you enjoy/find the content of TOM. Was it beneficial etc? I’m looking into the next cohort!
@@aimesandri4592 Ah! Yes, totally misread it! I share more in writing in the accompanying blog post if you want to check it out! Overall, it was a lot of education (17 3-hour modules) with associated homework and essays. www.mindmoneybalance.com/blogandvideos/what-is-financial-therapy-become-financial-therapist
Amazing I’ll have a read!
You can bill insurance for financial therapy? Deborah Lyne Lpc
Financial therapy as a standalone is not billable to insurance. Most of my financial therapy clients are being treated for a primary diagnosis of something else, and financial therapy is a component of their mental healthcare treatment
Wow where were you 5 years ago. This would have helped when getting a accounting degree.
I was just finishing up my Financial Social Work Certificate in 2018--re: accounting, I know the AFCPE (Association for Financial Counseling & Planning Education) and FTA (Financial Therapy Association) are in a reciprocal relationship!
What’s the difference between certified financial planning, financial advisor, finance counseling, and finance therapist?
A CFP is a financial planner that looks at a person's entire financial picture, Advisors generally focus more on investment strategy, a counselor does financial literacy education, and a financial therapist's role I talk about extensively in this video.
You have 47 likes...if you were talking about a side hustle...or money mindset...you would have 100k.
What is your intention with this comment? If you are trying to frame it as a kind suggestion, it doesn't land that way