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01 November 2023 | Story Valentino Ndaba | Photo SUPPLIED
Dr Prince Sarpong
Dr Prince Sarpong, Senior Lecturer in the School of Financial Planning Law at the University of the Free State.

As we deepen our understanding of the connection between money and psychology, financial therapy has gained popularity as a field of study. During World Mental Health Awareness Month, it was essential to delve into practical guidance for financial therapists, as well as for financial planners and mental health practitioners who are integrating financial therapy into their practice.

Dr Prince Sarpong, Senior Lecturer in the School of Financial Planning Law (SFPL) at the University of the Free State, and Prof Liezel Alsemgeest, Director of the SFPL, recently edited and published a book titled: Perspectives in Financial Therapy. Other academics from the SFPL who contributed to the book include Dr Rika van Zyl (Senior Lecturer) and Henda Kleingeld (Lecturer). 

Perspectives in Financial Therapy 

Published in July 2023, Perspectives in Financial Therapy aims to contribute to the body of knowledge in financial therapy. Both academics and practitioners in the mental health, financial planning, and related fields recognise the increasing prevalence of money-related psychological distress.

According to the editors, the primary target audience for this 14-chapter book includes academics and practitioners in the fields of financial therapy, financial planning, financial counselling, financial coaching, and mental health, as well as undergraduate and graduate students in these fields.

Mental well-being and financial matters

In Chapter One, Dr Sarpong begins by taking a close look at the developing field of financial therapy. He then investigates Models, Resources, and Tools Applied in Financial Therapy in Chapter Four. In this chapter, Dr Sarpong provides discussions on “the identified money scripts and money disorders in financial therapy, and on some of the main models, tools, and resources employed in financial therapy. The models in financial therapy are adapted mainly from the broader field of psychology and financial planning and can be employed by financial planners, financial therapists, and mental health professionals in helping clients to resolve their money-related distresses”.

Understanding generational differences is a crucial part of financial therapy. in Chapter Seven, Prof Alsemgeest touches on how each of the generations develops and distinguishes itself from other generations through shared social and historical life experiences. She added, “The chapter stresses that in the practice of financial therapy, it is important for practitioners to understand how each generation’s attitudes, perceptions, and behaviours around money were shaped, in order to be able to create rapport with a diverse group of clients.”

Comprehensive perspective on financial therapy

The book also delves into various other topics, including the brain and financial decision-making; practical application of neuroeconomics in financial planning; decolonising assessments in financial therapy from an African context; challenges, benefits, and implications for online financial therapy; couples and financial therapy; planning for and surviving divorce; rebuilding a stable emotional and financial foundation after divorce; therapeutic jurisprudence and estate planning; the limitations on freedom of testation, allaying estate planning fears through trusts; as well as a critical appraisal financial therapy.

News Archive

Dean of the Faculty of Law delivers farewell lecture
2013-12-04

Prof Johan Henning, Dean of the Faculty of Law at the University of the Free State (UFS), delivered his farewell lecture during an event attended by distinguished guests from law circles in Bloemfontein, staff from the faculty, as well as family and friends.

The topic of his farewell lecture was: From leonine to universal partnerships. This theme was also the focus of his inaugural lecture and his later research. “It was a privilege to have been part of the development of universal partnership law,” Prof Henning said.

During the event, Prof Henning was honoured by colleagues, as well as members of the law profession, for his contribution to the academy. Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS, thanked Prof Henning for his part in preparing a new generation of academics for the future.

Prof Elizabeth Snyman-Van Deventer from the Department of Mercantile Law, described Prof Henning as someone with an excellent knowledge of history, especially with regard to the Anglo-Boer War and the World Wars. “He is also one of only a few academics of which four postgraduate students became professors. He has lots of empathy with other people and, despite his long list of academic achievements, he is a very humble man. Two of his outstanding characteristics are his humanity and his modesty,” said Prof Snyman-Van Deventer.

Judge Faan Hancke, former chairperson of the UFS Council and Judge of the Supreme Court, said Prof Henning is a multi-faceted person. “He is an incredible academic who has published widely and is the author of several textbooks. He is also editor of a number of journals and serves on the editorial board of several publications. I have great admiration for his academic excellence and his absolute knowledge of partnership law. He is the best in South Africa and is also highly regarded internationally in this aspect of the law (he was, among others, director of the Centre for Comparative Partnership and Company Law at the Institute of Advanced Legal Studies of the University of London). He is the ideal academic, who has achieved the highest rating in his specialist field of Mercantile Law in South Africa, namely a B1 received in 2012, and he is an excellent dean,” Judge Hancke said.

Prof Henning has a long association with the UFS. In 1968 he reported as a first-year student. Later, in 1974, he was appointed in the Department of Mercantile Law on a temporary basis. In 1998 he was appointed as Dean of the Faculty of Law. Some of the highlights in his career include his appointment as African representative of CIDOEC, Jesus College, Cambridge, and becoming the first South African being awarded an honorary fellowship to the Society of Advanced Legal Studies in Brittain, as well as the American Order of the Coif.

Prof Henning will continue his partnership with the university in 2014, acting as dean and continuing his research.

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