This article aims to develop a model of the therapeutic alliance for psychotherapy guided by the concepts of Loob, Pakikibahagi ng Loob, and the framework offered by the Shared Reality Model. The conceptualization is anchored on data from a qualitative survey with 15 Filipino client-therapist dyads living in the Philippines. In the proposed model, client-therapist dynamics are viewed under two levels of analyses: (a) intrapersonal level (inner world or katangiang panloob) – that includes clients’ and therapists’ personality, values, and beliefs; (b) interpersonal level (relational world or ugnayang panloob) – that encapsulates the client-therapist relationship known as the therapeutic alliance. The model hypothesizes that a shared reality (pakikibahagi) in the form of shared inner world (pakikibahagi ng katangiang panloob) and shared relational world (pakikibahagi ng ugnayang panloob) contribute to psychological well-being. Implications for clinical practice, Sikolohiyang Pilipino theorizing, and directions for further research are explored in this paper.