USEFUL INFORMATION

Phoenix Consulting, LLC is a member of the American Association of Daily Money Managers (AADMM), a national membership organization representing individuals and businesses in the growing profession of daily money management. AADMM’s mission is to support daily money management services in an ethical manner, to provide information and education to members and the public, and to develop a network of dedicated professionals.

 

TOP 10 QUESTIONS TO ASK WHILE HIRING A DMM

The type of work DMM’s handle for their clients is highly personal and confidential. Whereas your personal judgment and instincts are important in determining the honesty of any professional with whom you may do business, you can take additional steps to safeguard yourself against becoming involved with a dishonest person. First, ask for a referral from someone you know and trust, such as a friend, relative, lawyer, accountant, or doctor. If none of these people can put you in touch with a DMM and you must hire a basically “unknown” person, be ready to address the following issues before hiring a DMM.

CODE OF ETHICS FROM AADMM

The American Association of Daily Money Managers is committed to promoting high standards of client services provided by its members. Each member is required to abide by a Code of Ethics, and upon renewal of membership, is required to sign AADMM’s Code of Ethics, acknowledging their commitment to the code.

STANDARDS OF PRACTICE FOR DMMs FROM AADMM

The Daily Money Manager (DMM) performs duties and discharges obligations which are guided by the AADMM code of ethics and in accordance with current state and federal law. To become and remain a DMM in good standing with AADMM, a DMM must adhere to a list of principles and standards outlined in this document.

5 TIPS FOR DISCUSSING MONEY MATTERS WITH FAMILY (FROM AARP)

Are you worried about your parents' diminishing physical capabilities or your daughter's plans to pay for her child's college education? Is one of your relatives going through an especially difficult financial period? As you get together with your adult children and aging parents to enjoy home-cooked meals or celebrate your family's holiday traditions, use the following five tips to help you discuss difficult financial issues.