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  • ELIZABETH EDWARDS

"Maximizing Senior/Solo Ager Finances: The Role of Daily Money Managers for Treasure Valley Financial Advisors"

Are you a Financial Advisor whose clientele includes Seniors and Solo Agers? If so, do these clients come to you in the tax season with everything organized and in order? Are you aware that an AADMM DMM can work with your clients to help them be organized not only at tax time, but all year round?


AADMM is the acronym for the American Association of Daily Money Managers, and DMM is the acronym for Daily Money Managers. This association just celebrated its 25th anniversary, and we have close to 600 DMM's in Canada and the U.S.


In the City of Boise and the greater Treasure Valley, Black Swan Money Management is currently the only AADMM DMM within 250-300 miles.


A DMM (Digital Money Manager) can be incredibly beneficial for financial advisors working with senior and solo ager clients. Here are some ideas on how referring your clients to a DMM can help:


  1. Budgeting Assistance: If your client isn't operating on a budget, a DMM can work with your client to set up an annual budget, help your client see where they could save money, and work with them to achieve a sustainable living plan.

  2. Bill Paying Assistance: Many Seniors and Solo Agers prefer to keep their financial records in a manual system. Perhaps they need just a bit of help to make certain their bills are paid on time. Perhaps they would like to move to an online system but aren't tech savvy. Either way, Black Swan Money Management will work with your clients as a team, meeting them where they are at and working with them to keep their financial house in order.

  3. Move to a digital Household Information Management tool: Black Swan Money Management uses the MyDataDiary+ program, which allows your clients to store all of their important information and documents in one place. This software creates a database that is 256-bit encrypted and password protected, and was developed by local Idahoan Darra Wray, Business Professional and Caregiving Advocate.

  4. Security and Fraud Protection: Black Swan Money Management keeps current with the latest security and fraud protection techniques, and can be an extra set of eyes for Seniors whose children live outside of the state or Solo Agers who may not have family to lean into for protection.


Now that the current tax season is completed is a great time for you to introduce Daily Money Management services to your Senior and Solo Ager clients. By integrating a DMM into their services, who can in turn help them keep your clients organized throughout the year and offer just a bit of help (if needed), they will be able to manage their finances effectively, be organized for meetings with you, and in the long run, offer them financial peace of mind.


If you would like Black Swan Money Management to come to your office and meet you or your staff of financial planners, please feel free to connect with me here or on LinkedIN.


Black Swan Money Management proudly offers a discount to Military Personnel.





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