The Transforming Power of Therapy-Informed Financial Planning™

What an incredible honor to receive such a thoughtful endorsement from a wonderful client. Through steady and intentional work, she has grown and blossomed as both a therapist and a businesswoman, making a meaningful impact in the lives of others. By taking the time to care for her finances, she’s found the freedom to care even more fully for her clients.

This is the story as written by Rosa.

Let me tell you a story about how I came to work with Ed Coambs—and why bringing a financial planner into my professional life was a game changer.

I began my career in psychology during a time when the field was becoming increasingly female-dominated—a trend business publications once called the “feminization of psychology.” Back in the 1970s and 1980s, psychologists earned salaries comparable to attorneys. But as more women entered the field, that income gap grew.

After finishing my PhD in the 1990s, I tried to straddle two worlds: working for an employer and seeing clients part-time. An early-career bookkeeper who helped with my taxes once pointed out that many women in private practice were operating what the IRS might label a hobby rather than a business. That comment stuck with me. She challenged me to start thinking of my practice as a true business.

Unfortunately, my graduate program had taught me nothing about how to run a business—how to pay myself a salary, offer benefits, or plan for the future. Then life threw me a curveball, and I had to become self-supporting. I had a Psychology Today profile and a metaphorical shingle, but I knew I needed to diversify my income streams beyond insurance and referrals. I moved into consulting and contracting, but honestly, when it came to business finances, I was flying blind.

That’s when I decided to build a team that could support me in learning the financial side of running—and growing—a business. I started by reading Profit First for Therapists, which led me to a bookkeeper familiar with the system and a CPA through their directory. Then I looked for a financial planner who truly understood the unique challenges of being a therapist.

That’s when I found Ed Coambs—a Certified Financial Planner and a Marriage and Family Therapist. That combination made all the difference.

It’s one thing to know your numbers. It’s another to manage them with clarity and confidence over the long haul. I carried a lot of internal conflict around money—torn between the idea of “doing good” as a therapist and “doing well” as a business owner. It was like having an angel and devil on my shoulders: the therapist doing noble work, and the businesswoman—well, she wasn’t evil, but she was carrying around some deep-seated money distortions. I needed to shift my mindset, and Ed was the catalyst for that change.

I’ve worked with business coaches before, and they’ve helped with behavior change. But Ed? Ed speaks my language. He gets the emotional and psychological underpinnings of money. He’s helped me build confidence as a business owner, challenge limiting beliefs about money, and reimagine my business model. Together, we’ve identified realistic, meaningful changes to support a fulfilling retirement—even later in life.

Ed Coambs has become an essential part of my business growth and my sense of financial peace. I only wish I’d found him sooner. His therapy-informed approach to financial planning makes everything feel more accessible and relevant than any other planner I’ve worked with in the past.

I wholeheartedly recommend him to fellow therapists—no matter what stage you're at in your business. Just please, leave enough room in his schedule for me and my West Coast time zone!

Rosa L. Thomas, Ph.D.
Psychologist, CA PSY 20906
SavorPsychotherapy.com