FREQUENTELY ASKED QUESTIONS

Daily Money Manager Services:

Do I loose my financial independence if I am hiring a Daily Money Manager?

No, our services can help the clients to maintain their independence for a longer time. With the help of a Daily Money Manager you are getting all the support and explanations needed for staying on top of your own finances.

 

Is a Daily Money Manager used only by seniors?

No, everybody who wants to get rid of the stress involved with the ongoing financial paperwork can benefit from our services. You will gain peace of mind and you are able to use your energy for the nicer activities of your life.

 

Do you offer different levels of support?

We tailor our offer to the need of each and every client. You can get help in only a small piece of your financial life or we can offer you a package including all the services. We are happy finding a solution which is serving YOUR needs.

Do I need a computer for getting the financial record keeping service?

No. We can keep your records either on paper, using a computer spreadsheet or using a dedicated financial software. Our goal is helping every client in a way it is most effective and useful for them.

 

Is a Daily Money Manager the same as a Bill Paying Service?

No. A Bill Paying Service is paying bills they get from the client either in person, electronically, or by mail. However, those bills are not necessary verified whether they are legitimate, rather it is an automated process. A Daily Money Manager is paying the bills together with the client, making sure only valid bills are paid and helps discovering fraudulent charges. Additionally, a Daily Money Manager can give further advise or suggestions for improving the clients spending or helps adjusting payment schedules if needed.

 

Do I still need my Financial Advisor / CPA / tax accountant if I have a Daily Money Manager?

Yes, a Daily Money Manager is not replacing those professionals, rather they complement them by building the base for them to work on. A Daily Money Manager will keep record of all the needed financial documents so that they can be provided to the other involved parties. A Daily Money Manager is having an overview about the clients financial situation, will help him executing the regular tasks and can refer to other professionals on a need base. The role of a Daily Money Manager is comparable to a Primary Care Provider for medical issues.

 

Will you use my login credentials for my online banking?

No. We will not use your online banking without you being present for signing-in and approving all transactions / bill payments. We will never take over the signing authority over your bank accounts. Your signature and approval is needed for all transactions and you keep the full control over all your financial affairs.

With your approval we download your bank account transactions to our software. This is a connection used only for monitoring purposes and does not have full access to your account.

 

How do you charge for your services?

During a free and non-binding initial consultation we will assess the clients situations and needs. As there are services of different level of complexity offered, we can make a customized offer after that consultation. Services will be billed at an hourly rate.

 

Can you take over the role of an agent for the Power of Attorney?

No. As we will not obtain the signature authority of your accounts, we cannot fulfill this role, but we are happy to work together with the agent of your Power of Attorney.

 

How often will you visit me?

Depending on your individual needs, we will visit you weekly, bi-weekly or monthly. We also can provide support for a limited time only, for example after a life event like a divorce or death, until the client is confident in handling the affairs by its own again.

 

Are you insured?

Yes, as a member of the American Association of Money Managers we have an error&omissions insurance,  tailored for this profession. We are happy showing you our insurance certificate.

 


 

 

ASSESSMENT MEETING (30 - 45 MIN.) - FREE AND NON-BINDING!

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Serving Portland, Beaverton, Hillsboro

503 851 2449

sds@smartdailyservices.com

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