For some issues, it probably doesn't make much, if any, difference. There are wonderful, effective therapists with a variety of education and training.

For me though, with everything complicated by bipolar disorder and meds and hospitalizations, etc., I have been glad my therapist is a PhD. with specialized study into all of the above, including psychopharmacology. His expertise has been invaluable to me. I did not have that kind of specialized support with my other therapists who did not have that level of education and training. They were wonderful therapists about certain aspects of my life, but they were somewhat lacking in specialization. I've made MUCH more progress with my current therapist very much due in part to his level of education and training.