Frequently Asked Questions
What does a daily money manager do?
A daily money manager brings clarity and order to an individual’s daily management of personal bills, budgets and record keeping. They assist with activities such as bill paying, day-to-day banking, budgeting, insurance paperwork, and organizing records and receipts.
If I hire a daily money manager, do I still need an accountant, financial advisor, lawyer, social worker or geriatric care manager?
Daily money managers complement the services of those professionals, but do not take the place of these other service providers. A skilled daily money manager is often seen as a team builder, coordinating and collaborating with your existing team of professionals or helping gather the right people to the table to serve your needs.
Can I stay with the same bank, financial advisor accountant or attorney?
Yes, we can work with any bank, financial advisor or other professional you chose. We have no exclusivity arrangements or requirements for our clients. If you need to make a change, we have a well-established network of other trusted professionals in the area and are happy to provide you with referrals.
How often do you see your clients?
Visits are scheduled based on your needs and availability. We can accomodate weekly, face-to-face visits, every other week or once a month. For our busy professionals, meetings are less frequent because most work is done remotely. We are always sensitive to giving you the best value for the time we spend together.
Will I lose all control of my money?
Absolutely not. You will continue to make the decisions on how your money is managed. Our goal is to free you from the responsibility of executing those daily financial tasks.
How much will this cost?
Most daily money managers charge for their services on an hourly basis, with rates ranging from $50 to $150/hour, depending on the type of service provided. We always start with a complimentary one-hour consultation to listen to your needs, ask questions and gather information. Once we have an understanding of the scope of service, we will develop a comprehensive proposal with estimated cost and timeline for the engagement.