Financial Therapy Approach

Advice and Asset Management Guided by Financial Therapy 

You may be asking yourself, “What IS financial therapy?” Well, it’s the intersection of psychology and finance. It offers individuals the opportunity to uncover the motivation behind their financial behaviors. Financial therapy is about helping you understand your thoughts, emotions, and behaviors regarding money. We discuss your money story—what you learned about money from childhood or personal experiences that shape your financial behaviors. Nothing has transformed our practice more than the transition to a financial therapy-based approach. We have better conversations and deeper relationships that lead to more accurate planning, advice, and better financial health. 

 

How We Got Here

 

Increased regulations and technological advancements in the financial industry had a profound impact on Jonathan’s career.

 

The changes to financial regulations were primarily a reaction to bad behaviors or misconduct by advisors and financial firms. New rules and regulations improved the quality and cost of products and services for clients. While this evolution is still ongoing, Jonathan always tried to look ahead and forecast where the industry might go and shift the practice to best match (or be ahead of) any new industry standards. 

 

Throughout his career, Jonathan has had the opportunity to work with institutions of every size and shape from large retail banks with wirehouse brokerage firms to small member credit unions. He has been affiliated with two independent broker/dealers and later with a medium-sized, hybrid Registered Investment Advisory (RIA) firm. In 2020, he launched his own RIA firm. 

 

For most of those years, Jonathan was a commission-based broker focused on delivering mutual funds, stocks, bonds, and mutual fund ideas for his clients. In 2016, he began to shift a majority of his service and revenue away from commissions to a fee-based model. These changes didn’t come easily and not all of his clients could see the value. 

 

Thankfully, many of Jonathan’s clients stayed with him through these transitions. This last evolution - owning his own RIA - allowed him, for the first time, to be a fee-only financial advisor. 


 

Technology Levels the Playing Field

 

Technology has changed everything in our personal and work lives. In the financial planning and advice space, technology has given the public access to quality advice, planning, and trading tools—all for nearly free! This access and advancement in technology has driven the cost of financial planning, advice, and trading to all-time lows. In fact, trading essentially costs nothing for most clients.

 

With the advancement of technology, Jonathan started thinking ahead to the future of financial planning and advice, and he came to the conclusion that to be of value to his clients he needed to provide a service they couldn’t get from a computer. With this realization came his focus to work with clients in a way a computer never could—by helping them understand and change their financial behaviors.

 

At Oaks Wealth Management, financial therapy guides the advice and planning tools we use to shape and form our asset allocation strategies and financial recommendations.

Financial Therapy in Houston, TX