Financial Advisor (FA)/Financial Planner


Money planning and investing

Marriage Family Therapist (MFT)/Psychologist:

MFT-relationships Psychologist-emotions /personal matters

Money and SoulA unique hybrid discipline
  • Manages client assets (FA),Understands market volatility-risk (FA/FP).
  • Provides advice but usually not asset management (FP). Financial tasks: risk management, investment/tax/ retirement planning (FA/FP).
  • Relationship specialist trained to assess, diagnose, and treat individuals and couples so they can achieve greater satisfaction (MFT).
  • Clinical training in mind, thoughts, and human behavior. Understands emotional and personal matters and assists in client decisions (Psychologist).
  • License requires at least 2 years supervised training and 3000 client counseling hours/graduate degree.
  • Privileged Confidential relationship. Provides safety where client can discuss all aspect of problems. (MFT/Psychologist).
  • Assists and counsels clients in practical aspects of money:How to obtain specific financial goals,
  • Efficient use of money,
  • Financial coaching,
  • “Green” investing, and
  • Alignment of money use with higher-self to encourage self-fulfillment/peace of mind.
  • Commissions, management fees, indirect compensation (e.g.) mutual fund trailing commission (FA).
  • Usually fee per visit or lump-sum pricing for service package service (FP). If (FP) receives commission for recommended mutual funds, insurance products sold then shares same dilemma as (FP).
  • Vary based upon specialty and experience. Usually charge per session or for a block of sessions (MFT/Psychologist).
  • Individual/couples sessions or classes. Usually charge per session or for a block of sessions. Privileged Confidential relationship.
  • Freedom for client to discuss all aspects of money.
  • Provides practical advice, objective 3rd party asset assessment (allocation/ plan), assistance in utilizing money with greater efficiency or higher purpose.
  • Conflicts of interest regarding financial products, trading of clients positions to create commissions, additional risks to grow portfolio and collect larger fees (FA).
  • Possible lack of accountability for advice (FP).
  • Usually lack hands-on experience in money management and risk awareness, financial products, and investment fees.
  • None!
  • Note that Money and Soul does not monitor portfolio or assess financial markets.
  • Refers clients who need therapy for a non-money related situation.

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