FAQs

"What is a Daily Money Manager?"

A Daily Money Manager (DMM) is a financial professional who provides personal financial services to individuals and families, and who manages personal daily money matters such as bills, budgets, record keeping, and much more. DMMs are different from Certified Professional Accountants (CPAs) and other finance professionals in that we help with personal money matters that need to be taken care of on a regular basis. DMMs are also more affordable than CPAs. The separation of duties between the CPA, financial advisors, and other finance professionals prevents conflict of interest, saves money for the client, and makes it easier to identify fraud.

"Can AMM help me file my taxes?"

We help our clients organize and prepare documents needed to files taxes, however, we are not tax preparers. We refer our clients to professionals who provide services beyond our scope. Such professionals may be attorneys, CPAs, or financial advisors/planners.

"Will I give up my independence if I become a client of AMM?"

Becoming our client will enable you to maintain your independence as you will be involved with any decision-making while our Daily Money Manager (DMM) is there to assist you with your finances. Our DMM can be another set of eyes ensuring your finances are in order. She can also free you up to focus on other important things like your family and/or career while making sure you stay informed and avoid overdrafts and other fees. Most clients of DMMs start out unsure about trusting the DMM with their finances, but find that they needed the services the DMM provides.

"Does AMM adhere to a Code of Ethics?"

Aloyo Money Management adheres to the principles, standards, and code of ethics set by the American Association of Daily Money Managers. A document outlining these standards is available upon request.

"How about confidentiality?"

All client information is confidential. We will never share your personal information with anyone unless authorized in writing. We also protect our client data from cyber threats by utilizing cybersecurity measures including encrypted password managers, VPNs, and firewalls. A copy of our Privacy Policy is available to our clients upon request.

"How much does AMM's services cost?"

We strive to make our personal finance services as affordable as possible by charging lower rates than the average daily money manager business. We believe that in order for our daily money management clients to be successful, our services need to be attainable. We are committed to finding a way for these services to fit into your budget.

Our bookkeeping services range from $350 - $600 per month depending on the needs of the client.

Daily Money Management Services:

We provide a free 30 minute discovery call and charge a flat fee for initial appointment and onboarding. Afterwards, the fee for our services depends on the needs of the client. You can review a summary of our services on the "Financial Services" page.

Financial Literacy Training:

We periodically provide free training, however, the typical cost for our training depends on the number of people in a group, the length of training, and desired training topics. One-on-one sessions are also available. We are flexible with training fees. Please contact us if you have any questions.

"Does Aloyo Money Management operate on holidays, weekends, or after-hours?"

We are open Monday to Friday, 8am to 10am. We also operate on most weekends and select holidays. Appointments are required.