A comparison of psychotherapists and financial consultants in their assessment and treatment of financial conflicts
This study explored the similarities and differences between financial consultants and psychotherapists in their basic personal values and in their methods of assessment and treatment of clients experiencing financial conflicts or crises. The intent was to inspect linkages between the two and, if feasable, consolidate any conceptual schemes foundational to theory-building in this area. Ten participants from each profession gave length-of-their-choice answers to three questions: ``What led you to choose your profession?''; ``Describe your professional role?''; and ``Describe how you work with distressed clients (individuals and/or couples) who ask for your assistance because they cannot get their financial management situation in order.'' Responses were categorized, classified into meaning units, and then compared between the professionals by question. Meaning units were then examined across the entire questionnaire, both within and across the professionals, in order to determine content for theorizing. The professionals also completed a rank order of values test designed by Dr. Frank Lawlis and Candice Trudeau. The Spearman nonparametric rank-order correlation technique was used to correlate values among the psychological participants, among the financial participants, and between the two groups. Results of the rank order correlation showed a significant correlation of rho = 0.88, indicating the two groups hold the same basic personal values, and operate from inner-directed evaluative mechanisms such as self-esteem, independence, and relationship. Descriptive analysis showed that although the two groups use differing methods, they attempt to produce results from the same professional stance. Theoretical possibilities emerged suggesting that the two groups may hold entirely different concepts (constructs) of money, indicating a possible new direction for further research.
0384: Behaviorial sciences