WHAT IS THE ROLE OF DAILY MONEY MANAGERS?

  Daily money managers (DMMs) provide personal business assistance to clients who have difficulty in managing their personal monetary affairs. The services meet a continuum of needs, from organizing and keeping track of financial and medical insurance papers, to assisting with cheque writing and maintaining bank accounts.

IF I HIRE A DMM, WHY DO I NEED AN ACCOUNTANT, LAWYER, OR SOCIAL WORKER?

  A DMM does not take the place of professionals in the accounting,investment or social service fields; rather, their work complements the work of other professionals by facilitating the completion of the day to day tasks rather than determining long-term plans.

  Unless your DMM happens to have separate professional credentials in the other fields, he or she should not be offering you legal, investment, or tax advice. However, a good DMM should be able to recognize pertinent issues and refer you to professionals and organizations qualified to provide the other services you may need.

WILL I BE GIVING UP MY INDEPENDENCE IF I HIRE A DMM?

  On the contrary, the assistance of a DMM is often the piece of life's puzzle which allows many seniors to avoid guardianship or complete loss of independence.

  If you find that you are late in paying bills or do not understand certain financial forms that come in the mail. your family might pressure you to move out of your home or turn over your affairs to legal preresentative. often times, a twice-monthly visit from a DMM will allow you to keep your finances under your own control, with the DMM helping you to keep on track and to avoid errors which may have raised the concern of loved ones.

  The involvement of an outsider in personal financial affairs may be too intimidating for some, but most clients of DMMs find that once they have established a relationship with their DMM, they don't know how they survived without one.

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entries copied from American Association of Daily Money Managers