Daily money managers are financial professionals who deliver essential financial services to seniors and older adults, people with disabilities, busy professionals, high net worth individuals, and sometimes to small business owners.
In 2019, the services of a daily money manager is in high demand, largely due to a the growing elderly population and that families are more geographically separated than ever before. Even families living in the same city are busier with dual-income spouses and the trend toward organized sports and play for children.
With both parents working, there is often not enough time to visit elderly parents to ensure that documents are properly signed or bill payments are processed on time.
Wealthy people either don’t care to spend time with menial money tasks, or they prefer to spend their time traveling or being involved in their communities.
So what does a daily money manager do? They check bills for accuracy and make payments on time, balance checkbooks, make bank deposits, ready paperwork for taxes, and ensure that medical bills are processed and paid correctly. While some perform these tasks at the client’s home or office, it’s more likely that it’s all done securely online from the DMM’s offices.
Since the formation of the trade organization, the American Association of Daily Money Managers (DLMoneyMatters is a member), the emphasis is on ethics, information, and education for both daily money management professionals, like us, and the public.
To learn more about daily money management, visit AADMM . And of course, we’re always happy to answer any questions you may have at (513) 322-1036.