DMMs and You

How daily money managers work with other financial professionals

Daily Money Managers are often the hub for their clients to ensure financial obligations are met, tasks are completed and other members of the financial team are kept informed. Daily Money Managers work with accountants, attorneys, insurance agents, financial advisors, guardians, trustees, and care managers to help clients with managing their day-to-day finances. As DMMs, we are not acting as accountants, financial advisors, or attorneys. Many Daily Money Managers serve as fiduciaries in a variety of roles such as Power of Attorney, Trustee, Guardian or Executor.  These fiduciaries work closely with other professionals to carry out their duties in those roles.

How do DMMs and service professionals work together?

In addition to paying bills and managing the day-to-day financial lives of their clients, Daily Money Managers can help ensure:

  • Accountants receive organized and relevant tax receipts or documents in order to make sure clients get all the deductions they are entitled to and to make the accountant’s job easier.
  • Estate attorneys are kept informed of any life changes critical to keeping an estate plan current.
  • Insurance agents are updated on any changes to property holdings or changes that might impact the beneficiary, and insurance premiums are paid by their due date so policies do not lapse.
  • Financial advisors are in sync with the client’s daily finances for efficient long-term planning.
  • Guardians and trustees have the benefit of an independent third-party monitoring accounts, processing payments, and preparing financial reports for the necessary filings.
  • Geriatric care managers are brought in when the family needs assistance outside the scope of finance to provide those types of services for aging family members.

 DMMs work as a team with other financial professionals to ensure the full spectrum of a client’s needs are met with efficiency and accuracy.

How to find a DMM for your client

You can search our member database to find a DMM or refer your client to do their own search.