Who is on your Financial Team?

Tue, 08 Mar 2016

Who are the professionals that make up your Financial Team?

Do you have a team of experts who assist you with your finances? Maybe you prefer to wait until the need arises, for example if you want to get a mortgage or purchase a car. Although that method can work well for many people, there may be times when an emergency arises, and a person is left to scramble to find the professional they are seeking. I believe it is important to establish trust with individuals who will be assisting me with important decisions about my finances before I actually need their services. I usually interview several professionals prior to deciding who will be on my team. My personal financial team consists of my CPA, financial adviser, realtor, banker, estate attorney, and my insurance agent. I also have access to additional legal services as needed. These are the people who assist me with my financial and legal affairs. Several of my clients also have trusts and financial advisers at different institutions, so they may have additional professionals involved for specific situations. Daily Money Managers or DMMs can be a great addition to one's financial team because we organize clients’ financial, medical and legal paperwork. This includes making sure that clients’ bills are paid on time and all estate plans and other important documents are up to date and accessible when needed. Many financial professionals greatly appreciate having a DMM involved, as it makes their jobs easier. For example during tax season, I frequently gather my client's financial documents and tax information to give to the CPA. Because I review bank statements regularly, I am able to contact the client's banker quickly to begin an investigation if there is suspected fraud.Oftentimes a Daily Money Manager is the liaison or “contact person” for the other financial professionals on the team because we meet with clients regularly to open the mail and pay the bills. 

My clients and their families often say that having me on their financial team brings a sense of order and peace of mind.

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. Please contact me at 608-515-4083 or email barbara@marysdaughterllc.com. 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 contact me at 608-515-4083 or barbara@marysdaughterllc.com