Navigating Special Ethical Issues as CFT Flashcards
What are the learning objectives for this video on navigating special ethics for CFT-Is™?
Participants will be able to:
* Outline the potential mandated reporting role of a CFT-I™
* Demonstrate awareness of potential power dynamics as a CFT-I™ and their impact on the practitioner/client relationship
* Recognize the signs and symptoms of red flag issues that could present in financial therapy
* Outline ways to navigate red flag issues as a CFT-I™
* Identify the value of collaboration and consultation for maintaining self-awareness, boundaries, and ethical practice
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What is the important context for the CFT-I™ certification?
The CFT-I™ certification supplements the work you do in your home discipline by providing additional knowledge and information to enhance your conceptualization of clients and their issues. The CFT-I™ does not certify you to “practice financial therapy”. It acknowledges that you have gained a foundational level of knowledge across therapeutic, financial, and financial therapy-specific domains. The ethical obligations of your home discipline will dictate any practice you are engaged in.
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What does the FTA’s Code of Ethics say about general confidentiality?
Financial therapists must keep information related to their services with clients confidential unless disclosure is required for the welfare of the client/others, or is required by law. When disclosure is required, only essential information is revealed, and the client is informed when possible.
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How does confidentiality differ for CFTs™ with an active mental health license?
Financial therapists licensed as mental health professionals may adhere to the standards of confidentiality required by their held license, which may be a higher standard than the general confidentiality standard. They must inform clients of this in the consent form and delineate the differences in their reporting mandates per applicable law.
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What does the FTA’s Code of Ethics say about clients outside the scope of practice?
Financial therapists must avoid entering or immediately terminate a service relationship if the client is outside their professional scope of practice and they cannot properly assist the client. They must respectfully offer a more appropriate referral.
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According to the FTA’s Code of Ethics, what should financial therapists acknowledge regarding their scope of practice?
Financial therapists must acknowledge their scope of practice with clients and must engage in practices only within the boundaries of their level of competence outlined by their certification, experience, and education. Scope of practice should be clearly documented and presented to clients in the consent/engagement process.
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What is a ‘Red Flag’ Issue in the context of financial therapy?
A ‘Red Flag’ is an indicator of an issue or potential problem that may arise in the course of financial therapy practice and affects the security or well-being of the client(s), financial therapist, or someone outside the sessions. These issues are serious and must be addressed immediately within ethical and legal standards.
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List some examples of ‘Red Flag’ Issues that may present in financial therapy.
- Potential Power Dynamics between Practitioner and Client(s)
- Child Abuse and Neglect
- Elder Abuse and Neglect
- Financial Abuse
- Financial Infidelity
- Suicide
- Homicide
- Chronic Mental Illness
- Intimate Partner Violence (IPV)
- Trauma
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What are some signs and symptoms of potential power dynamics between a practitioner and client?
- Issues of Transference and Countertransference
- Lack of supervision, mentorship, and/or continuing education
- Practitioner’s lack of personal reflection of services
- Lack of exploration of own biases
- Lack of open communication and checking-in with clients
- Clients feeling judged, frustrated, cautious to share, and/or avoidant
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What does the FTA’s Code of Ethics say about the abuse of the relationship?
Financial therapists must not abuse the potential power in their relationship with clients.
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What does the FTA’s Code of Ethics say about unjustified personal gains and exploitative relationships?
Financial therapists must not use their professional position to seek or receive unjustified personal gains, sexual favors, unfair advantage, or unearned goods or services. They also must not engage in exploitative relationships with clients, employees, students/trainees, supervisees, colleagues, or research subjects.
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What are some signs and symptoms of child abuse and neglect?
- Physical abuse: bruising, burns, fractures
- Emotional abuse: parents’ disinterest or inappropriate reactions to a child’s behavior
- Sexual abuse: abnormal behaviors, highly seductive behavior, sexualized play, precocious knowledge of sexual acts, children with concerns about pregnancy, distorted body image, shame, excessive guilt, fear of males (or females), changes in personality such as withdrawing, depression, regressive behaviors such as enuresis or sleep change
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What are some signs and symptoms of elder abuse and neglect?
- Bruises, injuries, welts, cuts, wounds, cigarette, and rope burn marks, especially if at multiple sites, bilateral, or shaped like objects
- Deep pressure ulcers in multiple sites
- Malnutrition/dehydrated
- Poor personal hygiene
- Painful body movements unrelated to illness and a change in demeanor or activity level
- Dementia and/or depression as independent risk factors for neglect
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What are some signs and symptoms of financial abuse?
- Withholding of earnings or information about finances
- Constraining involvement in paid work
- Limiting the control of money or financial decisions
- Creating debt or ruining credit
- Stealing and destroying property
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What are some signs and symptoms of financial infidelity?
- Secretly spending money (e.g., secretive gambling or shopping)
- Withholding income or expenditures (e.g., in instances of child support avoidance)
- Incurring debt (e.g., excessive credit card use or not disclosing unpaid student loans)
- Hiding financial savings (e.g., having a separate banking account due to a lack of trust)
- Secret luxury expenditures
- Secret credit cards
- Hiding an affair
- Hiding Debt
- Secret gambling or drug addictions
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What are some chronic risk factors for suicide?
- Family depression and suicide history
- Mental and physical health history
- Life cycle
- Previous suicide attempts
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What are some acute risk factors for suicide?
- Current mental status (e.g., anxiety, insomnia, hopelessness, feeling trapped)
- Increased alcohol use
- Rage
- Social isolation
- Unemployment
- Hopelessness
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What are some contributory risk factors for suicide?
- Financial strain
- Threat of loss of position or identity
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What are some signs and symptoms of homicide?
- Threats or acts of violence
- Rage
- Emotional regulation difficulty
- Depression
- Substance abuse
- History of violence
- History of violent crimes and previous violations of restraining orders
- Use of weapons
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What are some signs and symptoms of chronic mental illness?
- History of family mental illness
- Lack of boundaries between work, home, and social life
- Emotional regulation difficulties
- Anxious, depressed, anger, and/or erratic behavior
- Lack of feedback about successful performance
- Lack of support from peers
- Unmet needs for company, daily activity, and a confidant - often loneliness or social exclusion
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What are some signs and symptoms of Intimate Partner Violence (IPV)?
- Substance abuse
- History of violence
- History of violent crimes and previous violations of restraining orders
- Use of weapons
- Threats
- Obsession with partner
- Bizarre forms of violence
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What are some signs and symptoms of Trauma?
- Trauma history
- PTSD symptoms and/or diagnosis
- Sleep disturbance
- Poor access to care status
- Anxiety, depression, aloofness, anger
- Interpersonal forms of extrafamilial victimization
- Types of trauma include physical, psychological, emotional, sexual
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What are predisposing factors for ‘Red Flag’ Issues?
Factors that may increase the likelihood of ‘red flag’ issues, such as:
* Miscommunication about money
* Lack of financial literacy
* Power dynamics
* Differing money attachments
* Shifts in financial stability
* Significant emotions (shame, guilt, embarrassment, anxiety, fear)
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What are preemptive strategies for navigating ‘Red Flag’ Issues?
What you can do before ‘red flag’ issues arise, including:
* Addressing these issues and client rights to confidentiality during informed consent
* Awareness of ‘red flag’ issues and symptoms
* Awareness of ethical codes and laws
* Understanding scope of practice
* Developing lists of resources and colleagues
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What are preventative strategies for navigating ‘Red Flag’ Issues?
What you can do after becoming aware of ‘red flag’ issues, such as:
* Referring if outside scope of practice
* Contacting appropriate resources
* Maintaining boundaries
* Consulting with colleagues/supervisors
* Collaborating with other practitioners
* Maintaining self-awareness
* Contact the FTA Regulatory Committee for unique issues
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What is a crucial note of caution regarding ‘Red Flag’ Issues?
The nature of ‘Red Flag’ Issues is that they are often unique to the particular situation and/or client(s). Practitioners must recognize and address these issues appropriately, adhere to laws and standards, maintain confidentiality where necessary, remain within their scope of practice, and refer/collaborate when needed. Practitioners should not assume something is occurring without sufficient information and should seek assistance if unsure.
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What is the relationship between the CFT-1 certification and a professional’s ‘home discipline’?
The CFT-1 certification is a supplemental certification to the work professionals already do in their home discipline, providing additional knowledge related to financial therapy domains but not certifying them to practice financial therapy.
What does the CFT-1 certification acknowledge about a practitioner?
It acknowledges they have gained a foundational level of knowledge across therapeutic, financial, and financial therapy-specific domains, but does not certify them to ‘practice financial therapy.’
Which ethical obligations dictate a CFT-1’s practice?
The ethical obligations of the practitioner’s home discipline.
What should CFT-1 practitioners do regarding their home discipline’s ethical obligations?
They should review their home discipline’s obligations concerning codes of ethics and standards of practice, as well as any legal statutes they must abide by.
What does the FTA Standards of Practice and Code of Ethics say about general confidentiality?
Financial therapists must keep information related to their services with clients confidential unless disclosure is required for the welfare of the client/others, or is required by law.
What special considerations exist for financial therapists with an active mental health license regarding confidentiality?
They may adhere to the standards of confidentiality required by their mental health license, which may be a higher standard than the ‘general confidentiality’ standard.
How are mandated reporting obligations determined for a CFT-1?
Mandated reporting obligations are dictated through the practitioner’s primary discipline’s ethical and practice requirements.
What should be included in informed consent regarding confidentiality?
Potential red flag issues and the client’s right to confidentiality based on the FTA Standards of Practice and Code of Ethics.
What does the FTA Standards of Practice and Code of Ethics say about clients outside scope of practice?
Financial therapists must avoid entering or immediately terminate a service relationship if the client is outside their professional scope of practice.
How should scope of practice be communicated to clients?
Scope of practice should be clearly documented and presented to clients in the consent/engagement process.
What are red flag issues, and why are they important to recognize?
Red flag issues are indicators of problems that may affect the security or well-being of individuals involved.
What principle should guide how CFT-1 practitioners think about red flag issues from the past?
‘The past is the present’ – meaning that past issues can still affect the current situation.
List at least five red flag issues that may present in financial therapy.
- Potential power dynamics between practitioner and client(s)
- Child abuse and neglect
- Elder abuse and neglect
- Financial abuse
- Financial infidelity
What are signs and symptoms of potential power dynamics between practitioner and client?
- Issues of transference and countertransference
- Lack of supervision or continuing education
- Practitioner’s lack of personal reflection
- Lack of exploration of biases
- Clients feeling judged or cautious to share
What does the FTA Code of Ethics say about abuse of the relationship?
Financial therapists must not abuse the potential power in their relationship with clients.
What types of abuse and neglect should financial therapists be aware of?
- Physical abuse
- Emotional/psychological abuse
- Sexual abuse
- Financial abuse
- Neglect
How is financial abuse defined?
Financial abuse occurs when one person interferes with the victim’s ability to acquire, use, or maintain financial resources.
What is important to understand about the relationship between financial abuse and other forms of abuse?
Financial abuse is often intertwined with other forms of violence and may continue long after a relationship ends.
How is financial infidelity defined?
Financial infidelity refers to secretive acts of spending money or incurring debt unknown to one spouse or partner.
What are examples of financial infidelity behaviors?
- Secretly spending money
- Withholding income
- Incurring debt
- Hiding financial savings
- Secret luxury expenditures
What is the relationship between economic stress, mental health, and suicidal thoughts?
There is a strong significant relationship between economic stress, mental health, and suicidal thoughts.
What are chronic risk factors for suicide that financial therapists should be aware of?
- Family history of depression/suicide
- Family/personal history of mental and physical health issues
- Life cycle issues
- Previous suicide attempts
What are acute risk factors for suicide?
- Current mental status issues
- Increased alcohol use
- Social isolation
- Hopelessness
How should a practitioner respond to suicide ideation?
Don’t panic, ensure your own safety, and follow your primary discipline’s ethical requirements.
What are signs and symptoms of homicidal thoughts that might appear in sessions?
- Threats or acts of violence
- Rage
- Previous violations of restraining orders
What mental illnesses are most likely to appear with money-related issues?
- Anxiety
- Depression
- Bipolar disorder
What is the reciprocal relationship between mental illness and money issues?
When money stressors are present, mental illnesses may occur and vice versa.
What is intimate partner violence (IPV)?
IPV refers to any violent acts or behavior between romantic partners.
What are precursors or signs that intimate partner violence may exist?
- Substance abuse
- History of violence
- Obsession with a partner
What should a financial therapist do if intimate partner violence is suspected?
Ensure their own safety first and look after the safety of each client.
How is trauma defined and understood in the context of financial therapy?
Trauma can occur through both physical and mental stressors and is seen on a continuum.
What different types of trauma should financial therapists be aware of?
- Physical trauma
- Psychological trauma
- Emotional trauma
- Sexual trauma
Why is it important for practitioners to recognize that trauma perception exists on a continuum?
Because a severely traumatic event for one person may not be traumatic at all for another.
What are predisposing factors for red flag issues?
- Miscommunication about money
- Lack of financial literacy
- Power dynamics
- Shifts in financial stability
What preemptive strategies can CFT-1 practitioners implement before red flag issues arise?
- Address red flag issues during informed consent
- Develop awareness of symptoms and ethical standards
What preventative strategies should be used after becoming aware of red flag issues?
- Refer if outside scope of practice
- Consult with colleagues/supervisors
What six key questions should practitioners ask when uncertain if a situation is within their scope?
- Am I complying with FTA Standards?
- Are services aligned with Level 1 training?
- Am I complying with applicable laws?
- Are techniques/services supported by research?
- Do I possess the required knowledge and competency?
- Am I prepared to assume accountability?
What is the importance of establishing practitioner-client alliance in dealing with red flag issues?
Establishing trust and clear communication is necessary when working with any clientele.
Why is collaboration and consultation important for CFT-1 practitioners?
It helps maintain self-awareness, boundaries, and ethical practice.
What should a CFT-1 do when encountering issues not addressed in the Standards of Practice?
Contact the Regulatory Committee for the Financial Therapy Association.
What note of caution was emphasized regarding red flag issues?
Red flag issues are often unique to particular situations and clients.
A client discloses a history of financial abuse in a previous relationship that still affects their current financial decisions. What factors should a CFT-1 consider?
Consider whether this is within your scope based on your home discipline.
During a session focused on retirement planning, a client makes concerning statements suggesting suicidal ideation about ‘not being around’ to worry about money. How should a CFT-1 respond?
Approach the concerning statements directly but calmly, assess risk based on your training.
A couple seeking help with financial planning shows signs of significant power imbalance, with one partner controlling all financial decisions. What red flags might this raise?
Potential financial abuse and intimate partner control dynamics.
As a CFT-1 with a financial planning background, you notice a client showing signs of anxiety and possibly depression during discussions about debt. What is the appropriate approach?
Acknowledge the emotional component of their financial situation and consider making a referral to a qualified mental health professional.
