Abstract
This paper presents the benefits and potential concerns of integrating financial counseling with systems therapy. Ethical and conceptual issues of cross-disciplinary collaboration are presented. Issues of social inequity and social determinants of health are highlighted to show the need for critical theory and knowledge of economic injustice in order to do cross disciplinary collaboration. Two models: one for cross disciplinary skills implementation and one for professional collaboration are presented. The paper closes with five recommendations for integrating financial therapy and systems theory.
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And we could argue for attending to the environment as well (Davenport 2019).
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Appendix
Appendix
Outline of mental health and financial distinctions of six themes in financial therapy (Ross et al. 2016)
Issue | Mental health perspective | Financial perspective |
|---|---|---|
Dual relationship | Limited to no contact outside of professional services Based upon the avoidance of possible exploitation of the client or impaired judgment of the clinician | Social events (e.g., meals together, attending events, etc.) can enhance the professional relationship Personal boundaries are still maintained to the point that the service provider does not burden the client |
Confidentiality | Respects and guards the privacy of each individual client Does not collect information that is not necessary for providing treatment Must disclose the nature of confidentiality through informed consent Maybe rescinded in instances of prior abuse to vulnerable populations or threat of future harm Responsible for safeguarding all records and confidences | Ensure that personal client information remains inaccessible except to those authorized No mandated or legal duty to report abuse/threats Not required to safeguard privacy outside of the offices, such as at a dinner or sporting event |
Working with other practitioners | Written authorization from the client(s) is required for disclosing personal or identifying information Clinicians can consult with other clinicians as long as no identifying information is shared It is the responsibility of the clinician that any referral made is in accordance with the client’s interests | Only authorized providers may share private information Referrals must be made to other providers with appropriate skills and knowledge |
Fee management | Fees are to be collected under fair and responsible standards of practice, only charging for services provided, and within the client’ ability to pay Clinicians cannot barter for services, nor accept kickbacks, bonuses, remuneration for referrals, or gifts Insurance may be considered and used for addressing psychopathology in the client(s) | Reasonable and appropriate fees for services rendered If fees are unaffordable, then there is a responsibility to assist in finding other affordable services May accept and collect kickbacks, bonuses, remunerations for referrals, and gifts from clients |
Usage of technology | Clinicians are responsible for ensuring the security of whichever technology-based medium that is used, as well as informing the client(s) of the inherent risks to using electronic media Clinicians are required to consider the emotional, physical, and intellectual needs of the client when using electronic mediums Practice within the scope of knowledge and skillset Be in accordance with all relevant laws in using electronic services | While required to ensure the confidentiality of the client’s private information, ethical codes do not discuss electronic mediums explicitly A major component of financial services, as providers utilize technology in almost every aspect of financial services to enhance the efficacy and convenience of their work |
Federal and state regulatory laws | Bound by federal laws for mandated reporting States issue mental health licenses, however, and therefore clinician are bound to practice only in the state in which their license is issued | Must abide by all state and federal criminal and regulatory laws Report any felony that would bring disrepute to the profession Financial licenses are issued at the national and state level |
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Gale, J., Ross, D.B., Thomas, M.G. et al. Considerations, Benefits and Cautions Integrating Systems Theory with Financial Therapy. Contemp Fam Ther 42, 84–94 (2020). https://doi.org/10.1007/s10591-019-09518-5
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DOI: https://doi.org/10.1007/s10591-019-09518-5