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I have given brown bag talks at accounting, financial advisory and law firms. It is very informal. I recommend a brochure or a 1-page flyer for a handout. I usually bring cookies or something else sweet, and the staff bring their own lunches. The whole thing takes only about 30-60 minutes out of their day (they have to eat lunch anyway!) and they don’t have to go anywhere. The convenience of it helps to attract people to the session. It requires making contact with a member of the firm, often a partner or even an office manager, in order to be invited.
Recently, a client at one of the firms where I did a brown bag called me the very next day, but usually it is just a matter of educating the referral partner and planting seeds that will sprout later on.
Leah Nichaman
Everyday Money Management
leah@everydaymm.com
301-325-2680 (cell)Jeremy,
On the Amazon website, if you go to “Your Account”, under Ordering and Shopping Preferences, there is a selection that says “Download Order Reports”. This will give you all of the items ordered in Excel format.Thanks, Julianne. This is exactly the issue – how much detail to put on the invoice, how to generate the detail if someone asks for it, and how to standardize the text across a large team. We are experimenting with various ways to do this to see what works for us!
Leah
Yes, Dominion offers a cyber liability rider. You may want to reach out to Dominion to ask them to provide a quote for it.
I plan to propose a session on this topic for the next conference. Probably a panel of three DMMs who have scaled up differently. Should be interesting!
Rich,
If you are here at the conference, please come find me and we can talk. This is a big topic with many different ways to approach growth.-Leah
Hi Todd,
In these cases we usually draft the agreement between us and the legal agent. For example something like, “this contract is between COMPANY NAME and AGENT NAME, agent under power of attorney for PARENTS’ NAMES”, so it is clear that we are contracting with him in his capacity as their legal agent.You may want to check with your attorney on this and maybe other DMMs will have a different way of looking at this.
-Leah
Thanks, Bill, for the link. This took me less than 10 seconds! I hope all DMMs who are on LinkedIn will click the link and send a message to LinkedIn asking for “Daily Money Manager” and “Financial Organizer”.
Bill,
No need to be embarrassed. You have hit upon one of the issues that challenges many a DMM and one that both newbies and veterans talk about all the time! If DMMs decided to take on a fiduciary position, such as power of attorney (POA), either full or limited, they need to be sure they are insured properly for it and understand their legal responsibilities. DMMs who choose not to take POA are generally not able to have access to a client’s account unless the client provides them with their online credentials. This should not be done without a written agreement. A simple release form may be enough for some banks to provide information to the DMM, but not for executing transactions.In my business, we do not take POA at all. We also do not serve clients who do not have a POA appointed. We do what we can without the POA and then call on the person who holds the POA if direct contact with the financial institution is required. We do access accounts online with a written agreement. This setup is not always the most efficient, but it has worked well for us so far. This is our middle ground and each DMM has to decide what their middle ground will be, based on their own analysis of the risks of various arrangements.
Feel free to reach out to me to discuss further.
Best,
LeahLeah Nichaman
Founder and President
Everyday Money Management
Keeping Your Financial Life in Order
PO Box 1469, Rockville, MD 20849
Direct: 301-325-2680 | Main Office: 301-801-2294 | Fax: 240-536-9146
leah@everydaymm.com | http://www.EverydayMoneyManagement.com
President, American Association of Daily Money Managers
Member, Advisory Committee of the Representative Payee Program of Montgomery CountyNeed to schedule a call or meeting with me? Click here: https://meetme.so/LeahNichaman
We track our time separately for tasks that are clearly related to tax preparation (reviewing the documents, filling out the organizer, making the list of deductible expenses, calls and emails with the accountant, etc.) Then we determine how much the client paid us for those hours and provide that information to the accountant and s/he can decide whether or not to deduct it.
Leah Nichaman
Everyday Money ManagementI also was told that we can have multiple Quicken files under one ID. In my case, however, we have 8 users in our company and Quicken told me that I can put one copy on three computers, so I bought three copies of Quicken 2018.
