“When Lisa Wiseman became an advisor in 1999, she expected to manage clients’ investments and provide comprehensive financial planning. She didn’t expect to help them pay bills.
More than 20 years later, she’s doing some of both.”
So begins an extensive story of how and why Lisa Wiseman’s professional services evolved until she decided to become a daily money manager and member of the American Association of Daily Money Managers to serve specific clients better.
Wiseman explains that daily money managers pay bills and organize a client’s tax documents, track expenses and help with other personal financial transactions. And that to become certified by AADMM, daily money managers must pass a background check, complete an exam, and participate in continuing education to maintain their status. Because industry regulations designed to protect the public prevent a financial advisor from also acting as a personal bill payer for the same client, she found herself unable to best serve long-time clients who were overworked midcareer professionals or aging adults and their adult children.
By separating her clients into two categories — those who would benefit most from personal bill paying and those only in need of a financial advisor, Wiseman now offers both professional services.
Her everyday stories describe how a daily money manager uses technology and attention to detail to ward off fraud or acts as a neutral messenger to ease family tensions, making it clear how both clients and financial advisors benefit from DMM services.
To read the complete article, visit: Bill Managers Relieve Clients of the Daily Grind of Tracking and Paying Bills, Investor’s Business Daily.
