MFP Expands Available Services to Our ClientsSubmitted by Mission Financial Planning on October 4th, 2019
I am happy to announce my completion of Kansas State University’s Financial Therapy graduate certificate program. “Financial therapist” is a little bit of a weird term so I’d like to clarify: I am not a therapist. I am still an advice-only Certified Financial Planner for dentists, but now I am equipped with additional knowledge to help you manage and assess your relationship with money.
From my experience financial goals are often held back by unrealized, unsaid or outdated beliefs about money. Financial therapy helps get to the root of our unexplored money biases. The study of financial behavior, parental involvement and money's impact on happiness were particularly interesting areas of study.
What is financial therapy?
Financial therapy is a research based methodology that interweaves psychological, behavioral, cognitive, and relational aspects of money into financial planning. Financial therapy can be seen on a spectrum where mental health is on one side and financial planning is on the other. Exploring biases helps us recognize financial patterns or scripts so we can be more intentional about financial functioning.
How does it work?
Through conversation or personal reflection, we explore money beliefs and behaviors and look for solutions to help you meet your financial goals. In financial therapy we aren’t tackling a “diagnosis.” We are finding actionable solutions when clients find themselves "stuck".
Together we may investigate:
- Family functioning around money
- Changes to financial behaviors
- Changes to financial relationships
- Your optimal functionality around money
- And more
Financial Therapy is optional at Mission Financial Planning. I wanted to introduce the concept to you now as it expands my scope of practice. If you think a financial therapy session would be helpful, you can book a stand-alone financial therapy session at any time, we can incorporate the session into your Annual Review, or I can recommend "self study" if you'd like to read about it.
I look forward to guiding you to and through retirement with the help of my financial therapy study and research.