Who is Your Ideal Client?

Published on 5/7/2020:
Mon, 10 Aug 2015

Welcome to the 2nd of my 3 part series on Daily Money Management.

In the first installment, we discussed “What is a Daily Money Manager? This article will explore the type of clients seen by Daily Money managers as well as answer the question “Who is your ideal client”.

First, let’s start with a brief quiz.  Which of the following might benefit from having a Daily Money manager?

a) A busy professional who travels a lot

b) Recently divorced male

c) An adult with dementia

d) A recently widowed woman

e) Older adult male living alone

f) Adult child managing his or her parents’ affairs

g) All of the above

If you answered “g” you are correct! Daily money managers provide services to many different types of clients in a variety of situations. What we have in common is that DMMs provide money management services to those who need assistance with their day to day monetary affairs. Some DMMs also offer services to small businesses. I promote financial literacy and money management skills for people of all ages, but my primary Daily Money management clients are older adults, veterans and their families. These individuals are often victims of identity theft, scams and fraud. By serving these clients, I feel I am honoring my mother, who was the catalyst for Mary’s Daughter. I also really enjoy conversations with older adults and veterans who often share their stories and talk about “the good ole days”!

My Ideal Client...

  1. Resides in Dane County, Madison WI - (within driving distance as I meet with clients in person) I have a network of very skilled DMMs, so I can refer to them if a potential client is outside of my area.
  2. Has the ability to sign checks or has a  POA
  3. or adult child who oversees the finances
  4. Is willing to work with a Daily money manager to organize the finances and pay the bills
  5. Has enough income to pay daily expenses but needs assistance with their financial organization

Many of my clients are divorced or widowed, and do not have adult children available to handle the onslaught of bills, Medicare statements, tax documents and other pieces of mail that come into the household. Their adult children are often raising their own families and sometimes live in other states, which makes it difficult to check on their aging parent. I experience a sense of accomplishment when family members are able to visit  with one another and have quality family time together rather than worry about the bill paying and financial organization. As a Daily Money manager, when I am opening and sorting the mail, paying the bills and maintaining up to date records for my clients, this allows family members to feel less burdened with their care giving responsibilities, and more able to "be present" with them.   When I can provide this peace of mind to clients and their families, it is truly “Ideal”!  

Part 3 of this series will discuss what happens after I meet with a client the first time, and also give some examples of how I work with clients as a Daily Money Manager.