Whether you are considering referring a client to Financial Therapy, or want to embrace Financial Therapy into your own work as a mental health professional, here are some common questions I get as a Certified Financial Therapist-Level I and Financial Therapy Supervisor!
1. What is Financial Therapy?
Financial Therapy serves as a bridge between mental health and financial professional services like Financial Planning, working with a Financial Advisor, investments, and accounting. The role of a Financial Therapist, courtesy of Bari Tessler, founder of Financial Therapy is to support money healing (past), money practices (present), and money maps (future). Financial therapists are comfortable exploring the impact of money on relationships, emotions tied to money, and resulting behaviors, including thoughtful work with Financial Trauma. The goal of Financial Therapy for many is to have a better or healthier relationship with their money personally and professionally.
2. Who can be a Financial Therapist?
If pursuing certification through the Financial Therapy Association, financial planners and mental health professionals are currently the two home disciplines applicants must come from. Other trainings are made available to a larger pool of professionals, including the Financial Social Work Certification, and The Trauma of Money training.
3. Is Financial Therapy a private pay service?
For the most part, yes clients come into Financial Therapy as private pay clients. For mental health professionals who are also Financial Therapists, if the client is in a state where the mental health professional is licensed, they could bill insurance for a mental health diagnosis related to the financial therapy work, however it’s not common.
4. How does a Financial Therapist get clients?
Since Financial Therapy is a growing industry, many Financial Therapists list themselves in the Financial Therapy Association online directory or market their services on their own website. Networking with financial professionals in your area can support a collaborative approach for clients you want to serve. Engaging in podcast interviews or blogs written for your ideal audience can also help potential clients find you.
5. How do I get started as a Financial Therapist?
You’ll want to select a training that works best for you. Currently, both Financial Therapy Association and Financial Social Work offer online programs for certification. Financial Therapy Clinical Institute is also offering online courses for specific aspects of Financial Therapy, including couples and money, families and money, and Financial Trauma.
We are also fans of doing your own work to understand your edges and personal money story. This can mean engaging in individual Financial Therapy as a client yourself, participating in our 6 week online Momentum and Money course for mental health professionals (and cohorts for Financial-therapists-in-training), or seeking individual or group Financial Therapy Supervision.
Croswaite Counseling, PLLC currently offers regular Momentum & Money groups, monthly Financial Therapy group supervision, and provides Financial Therapy as well as Financial Therapy individual supervision to mental health professionals wanting to heal their own money story and/or serve clients in this role. Learn more and discover the best-fit service for you at https://croswaitecounselingpllc.com/financial-therapy