Question 1

What is a Daily Money Manager?

Accepted Answer

A Daily Money Manager (DMM) is a financial professional who provides assistance to individuals who need or want help managing their day-to-day financial tasks. Some of the services provided include reviewing and paying bills, monitoring credit card statements, tracking medical and long term care insurance claims, organizing mail, and managing tax documents and record keeping.

Question 2

Who uses a Daily Money Manager?

Accepted Answer

The common thread for those who use a Daily Money Manager is the need or desire for assistance in managing their day-to day financial activities. Daily Money Managers are used by a variety of people:

Older adults
Active retirees
Adult children of aging parents 
Caregivers
Individuals experiencing life changes such as loss of a loved one, separation, divorce, illness
Busy professionals
High net worth individuals
Small business owners

Question 3

Will I be giving up my independence by using a Daily Money Manager?

Accepted Answer

No. Working with a daily money manager will actually give you more independence. You retain control over your finances and are involved in decision making without having to manage the daily details. You will authorize payment of your bills and will continue to be the signing authority on your bank and investment accounts.

Question 4

How do you charge for your services?

Accepted Answer

Our services are customized for each client. We start with a consultation to better understand your situation, evaluate your needs and discuss the types of services which may benefit you. We will provide you with a written document which confirms the details of your engagement with Fiscally Focused. We bill our clients monthly based on an hourly fee.

Question 5

Is Fiscally Focused insured?

Accepted Answer

Yes. Fiscally Focused is covered by a professional liability insurance policy underwritten by Lloyds of London. As a member in good standing of the American Association of Daily Money Managers we abide by their strict Standards of Practice and Code of Ethics, and we have passed an extensive background check through Global Investigative Services.

Question 6

Will my information be confidential and secure?

Accepted Answer

Yes. We maintain strict confidentiality to protect your privacy. We will not discuss any of your information without your expressed permission except as required by law. Fiscally Focused adheres to the strict Standards of Practice and Code of Ethics established by the American Association of Daily Money Managers. We strive to protect your information and records by using encrypted networks and security measures.

Question 7

Do I still need a financial advisor or accountant if I use a Daily Money Manager?

Accepted Answer

Yes. You still need other professionals (attorney, accountant, tax advisor, etc.) to continue to work on your behalf. Fiscally Focused does not provide financial, tax or legal advice. We work with your other professionals as part of your professional team.

Question 8

Do you offer both in-person and remote/virtual services?

Accepted Answer

Yes, we offer both in-person as well as remote/virtual services.

Frequently Asked Questions