Daily money managers (DMMs) are professionals who provide a wide range of personal financial assistance to their clients to help them manage their day to day financial affairs. This often includes opening and sorting mail, organizing financial paperwork such as bank statements, investment reports and tax documents, paying bills and maintaining bank accounts. DMMs often negotiate with creditors on behalf of their clients to reduce excessive payments such as telephone or cable bills and review all medical insurance paperwork to make sure everything is accurate. I often act as the liaison or coordinator for my clients with other professionals, ie. a tax expert, financial adviser or geriatric care manager so that we are able to get things done more efficiently. I usually meet with my clients in their home or residence to review the bills and make sure everything is paid and paperwork if organized.
I started out by charging per hour and saw clients an average of 2-4 times per month. I may be moving to a monthly rate in the near future as clients seem to prefer having a set amount each month. Clients pay an average of $170-$300 each month depending on how often I meet with them. I do offer a professional discount for referrals as well as a reduction in my rate for veterans of all ages. Most of my clients pay at the time of service but I also offer a monthly payment plan if desired.
All client information is kept confidential. As a Daily Money manager with AADMM, the professional association, I adhere to a strict Code of Ethics and Standards of Practice that require me to maintain the highest level of protection for my client and their financial and medical information. However, in the event that I need to discuss an issue with another professional, I will obtain written permission from my client to do so. I also request permission to speak with the client's Power of Attorney (POA) or another family member designated as next of kin if the client becomes ill or unable to handle their own affairs. This is clearly stated in my initial contract with each client which outlines the services I will provide.
Daily Money managers work with a wide variety of clients. These include high net worth individuals as well as lower income families, busy professionals, frequent travelers, seniors, adult children responsible for managing their parent's affairs, individuals who lack the time or skills for personal paperwork, individuals with physical and/or cognitive challenges, divorced and/or widowed individuals, young couples and small business owners. My clients are primarily older adults and veterans of all ages.
Most of my clients are in the Dane county area on the west side of Madison, WI. I have a network of DMMs who work in other areas, so I usually refer to them if I receive a call from a prospective client who lives further than a 10-15 mile radius of my office. If you are a financial professional who is located in the Madison WI area and would like to become a referral partner, I would welcome an opportunity to learn more about what you do and how we might work together. You may go to my contact page, call me at 608-515-4083 or email firstname.lastname@example.org.If you or someone you know could benefit from a free 60 minute consultation to discuss whether a Daily Money Manager is right for you, please feel free to contact me.
5201 Old Middleton Road Madison WI 53705