Ever heard yourself say, “I thought I paid that bill last month” or “not another late fee for my credit card?” Perhaps a Daily Money Manager (DMM) could help.
You might think, “I have an investment person.” Well, a DMM is different. DMMs work with individuals and families to assist with the day-to-day financial needs including:
■ Bill paying, including calls to payees regarding incorrect bills and preparation of checks for client signature
■ Reconciling checking accounts and investment statements
■ Making bank deposits
■ Organizing tax documents
■ Providing organizational assistance
■ Referring clients to legal, tax, and investment professionals as well as other community resources
■ Reviewing mail
■ Organizing and maintaining files
■ Providing notary Services
A DMMs clients include high net worth families and seniors needing efficiency and oversight for day-to-day finances, such as working with insurance companies for the best rates and paying the associated taxes on properties. Each client’s unique needs are outlined with tasks determined on a case-by-case basis.
DMMs also educate individuals to become better equipped to manage their new financial picture, such as a widow, a caregiver of an ill spouse or a newly divorced individual needing assistance in budgets and bill pay.
DMMs are often tasked with jobs that require coordinating with other professionals such as CPAs, attorneys, financial advisors, real estate professionals, insurance agents and healthcare managers. DMMs work with insurance professionals to ensure that clients have adequate insurance coverage, and they also work with resources in assisting with managing clients’ healthcare costs and billing issues.
For questions or more information regarding the role of a DMM, visit www.aadmm.com (American Association of Daily Money Managers). You can also contact Heather Jackson, CEO at Jackson Personal Financial Services, LLC, at (904) 699-3728 or go to www.Jacksonpfs.com.
