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How to Select the Best Daily Money Manager to Help You

One of the challenges many people face is staying on top of their financial paperwork. Over the past several months, I have received an increasing number of calls and emails from individuals requesting assistance with their personal financial matters as well as the finances of family members.

Professional colleagues have also reached out more frequently to inquire about money management and budgeting assistance for their clients.

How Can I Help?

When someone contacts me to request information, I talk with them about what I do as a Daily Money Manager (DMM) and ask if they would like to have a phone call or introductory meeting via Zoom to discuss their specific situation.

When appropriate, I also encourage people to go on the Frequently Asked Questions page of the AADMM website. Once they have had a chance to learn more about AADMM and DMM services, I find that having a conversation allows me to answer specific questions and address any concerns that they may have. The following is a list of those who may need the services of a DMM.

Who Benefits from a Daily Money Manager?

  • Older adults can benefit from the services of a DMM as the tasks of handling bills, deposits, and payments can become more challenging as we enter our later years — or we may simply choose to use our time differently
  • People who are constantly on the road for work or pleasure
  • Those who prefer to pay someone to handle their daily finances
  • Busy professionals who have more money than time
  • Persons with physical or cognitive challenges that prevent them from being able to handle their financial matters themselves
  • High net worth individuals and families with complex financial lives

How to Find the Best DMM Match for You

I also receive calls from people who request DMM services that I do not provide.  In that case, I offer to refer the individual to one or more of the highly qualified DMMs from a list of over 600 knowledgeable AADMM members. I have used the “Find A DMM” feature of the AADMM website on numerous occasions.

All AADMM members are required to have criminal background checks bi-annually and must adhere to the AADMM Standards of Practice and Code of Ethics.

DMMs who have achieved the designation of Certified Daily Money Manager (CDMM®) have successfully completed the CDMM exam, experience, and ethics requirements as well as adhere to an ongoing continuing education program to sustain their skills and certification.

financial paperwork piles

Examples of Helping Others Find the Best DMM Match

Recently, I received a call from a woman who lives on the East coast. She shared information about her parents, who live in Texas. She asked if I could assist them with their financial management on a remote basis. Although I do offer DMM services remotely, I did not feel I would be the best fit for this family once I heard more about their situation. I thought a DMM closer to them would be the best option.

I contacted my Texas DMM colleague, Kent Couch of Paraclete Ventures who facilitated a referral to Phyllis Washington, another DMM in Texas. The daughter was relieved to have this referral and I was glad to help.

Another time I received a inquiry from someone who asked if I worked with small business owners, which I do not. However, I provided the names and contact information of several highly qualified CDMMs, including Susie Marbury and Sammie Sanchez-Davis of Checks and Balances for You to assist the individual.

When I was asked about financial coaching from a prospective client last year, I contacted my knowledgeable colleague Clare Dubé, a financial therapist and educator, who accepted the referral to assist this client and her fiancé with their finances.

In my state of WI, there are several DMMs that I like to refer to when I am not able to take on a new client and/ or if they require services that I do not provide.  They are all highly competent professionals who provide excellent services,  including Barb Irvin, Jamie Stack, Catherine A. Schramka Heidemann and Attorney Scott Israel.

If I am unable to serve a prospective client, it is a top priority for me to help them find another DMM. I’ve been fortunate to have met many exceptional DMM colleagues at the AADMM Annual Conference and during networking events, so I can be assured when I make a referral that I am finding the best DMM colleague for that particular client and situation.

How You Can Help

If you or someone you know is looking for assistance with their financial paperwork, please check out the AADMM website to find a DMM in your area or one that works remotely as a few states do not have DMMs at this time.

Selecting the right DMM professional based on your needs and who is best suited to work with you is an important first step to getting your financial paperwork organized.

Barbara Boustead, LCSW DMM of Mary’s Daughter LLC provides daily money management services from Madison, WI. Barbara is an AADMM board member. Connect with Barbara on LinkedIn

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