Nathan Astle is a board member for the Financial Therapy Association and is pursuing a master's in financial planning with a focus in financial therapy at Kansas State University. He joins the show today to share how money conflict began in his life and how the topic of money was frightening to him while growing up.
Listen in as Nathan discusses the differences between financial planning, life planning, and financial therapy. You'll learn what the Financial Therapy Association is all about, as well as how it’s impacting the financial planning profession. Nathan also gives insight into how he plans to start an organization that will better equip financial planners to address trauma faced by their clients.
What You'll Learn In Today's Episode:
- What financial therapy is and Nathan’s background in this area. (2:10)
- How his childhood caused a fear of money and where that led him. (5:15)
- Ways that couples can deal with spending and money guidelines. (7:20)
- The global trauma many of us are experiencing and how to address it. (10:20)
- The hesitancy of CFPs to address hard topics and the importance of getting past that. (15:42)
- What the Financial Therapy Association is all about and how to get involved. (20:13)
- How to start using financial therapy tools in your practice. (23:24)
Ideas Worth Sharing:“It’s not so much about the dollar amount as it is the communication pattern.” - @nate_astle Click To Tweet “The relationship between our mental health, our physical health, and our financial health is very, very linked.” - @nate_astle Click To Tweet “There are some basic therapeutic techniques that we can use to help people experience change, and a planner can apply some of these tools and techniques in a way that helps their clients.” - @nate_astle Click To Tweet
Resources In Today's Episode:
- Nathan Astle: LinkedIn | Twitter
- Relational Money LLC
- Dubofsky article on issues facing financial planners: Part 1 | Part 2
- Facilitating Financial Health by Klontz, Kahler, Klontz (Ideal for new planners)
- Financial Therapy: Theory, Research, and Practice by Klontz, Britt-Lutter, and Archuleta (A bit heavier but has great depth)
- Financial Therapy Association Website
In this roadmap, you'll be guided through the details of various stages of your financial planner career, including position descriptions, licensing, skill and experience level requirements, and compensation ranges.