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Frequently Asked Questions
Do you replace my financial advisor, wealth manager, accountant, tax preparer, attorney or insurance agent?
No, we do not replace any of these professionals, but work closely with each of them, synergistically and collaboratively, to ensure that they have the information needed to provide you with the best services possible.  Sound Fiduciary Resource does not provide legal, financial, or tax related advice.  

By working with Sound Fiduciary Resource, do I have to relinquish control of my bank accounts?
No, with the exception of when a client chooses to delegate powers of attorney to us, our clients retain complete control, including signature authority, over all of their accounts at all times.

What is your privacy policy?  
Our client relationships are strictly confidential.  We do not exchange, distribute, or share any information we receive from our clients with any third party, unless our client authorizes us to do so.  We take privacy very seriously and regularly review our internal processes and technology infrastructure to ensure maximum protection of our clients' sensitive information.  

How do you protect my personal information?
The safeguarding of your personal information and financial data is critical to the services we provide.  We employ a combination of methods to protect your sensitive digital data including data encryption, Virtual Private Networking (VPN), password management software, anti-virus software, and quarterly computer health maintenance.

How do you charge for your services?
We typically charge by the hour and bill our clients monthly.  A full accounting of the hours charged is included with each bill.  

How many hours per month will it take? 
The monthly number of hours we work varies from client to client depending upon the breadth, depth, and complexity of the services requested and the client's budgetary considerations and priorities.  This is discussed in greater detail at a complimentary initial consultation with the client.  We work with each client to tailor our services specifically to their needs.  Frequently, our clients find that the cost of our services is significantly offset by reductions in late fees and penalties, the cancellation of no-longer-desired subscriptions and services, and their ability to make more well-informed investment decisions.

Will Sound Fiduciary Resource try to sell me anything?
No, Sound Fiduciary Resource does not sell products or investments of any kind.  Our business is strictly service-related.

Are you insured and background checked?
Yes, Sound Fiduciary Resource is insured through Dominion Insurance Services Inc, underwritten by Lloyds of London, with a policy that is specifically tailored to the daily money management profession.  We are bonded for our notary services through the National Notary Association.  Our employees undergo rigorous background checks on a bi-annual basis.

Will I lose my independence if I hire you to perform daily money management services?
No, you will not lose your independence.  You, or your agent, retain full legal control over your finances and accounts at all times.  In some cases, our services can actually help extend an individual's independence and ability to continue living at home by ensuring that their finances are managed in a consistent and timely manner.

What is a fiduciary? 
A fiduciary is an individual that acts on behalf of another person or persons, putting their client's interests ahead of their own, with a duty to preserve good faith and trust.  Being a fiduciary thus requires being bound both legally and ethically to act in the other's best interests.

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.  These professionals provide personal financial services to older adults, people with disabilities, busy professionals, high net worth individuals and others.

What does it mean to be a member of the American Association of Daily Money Managers? 
To become and remain a member in good standing with the American Association of Daily Money Managers (AADMM), a DMM must possess exceptional standards of professionalism, confidentiality, competence and integrity and commit to abiding by the AADMM Code of Ethics and Standards of Practice.  All AADMM members are required to pass a rigorous background check as a prerequisite of membership.

What is a certified Daily Money Manager?
A Certified Daily Money Manager (CDMM) is a financial professional who has demonstrated advanced knowledge in the management of personal financial matters and has earned certification by meeting strenuous eligibility requirements and passing an intensive examination.  The certification process utilized was developed by the American Association of Daily Money Managers (AADMM) as part of its mission to assure high standards of practice and delivery of quality service by DMM professionals.

Who benefits from the services of a Daily Money Manager?
Anyone who needs or wants help in managing their finances can benefit from the services of a Daily Money Manager.  Clients include: those with disabilities or in cognitive decline; seniors who want more time to do the things they want to do; busy parents struggling to manage their many responsibilities; busy professionals seeking to free up time for more pressing matters; high net worth families who prefer to have a professional manage their daily financial affairs; frequent travelers who want peace of mind knowing their financial matters are being tended to while they are out of town; and families experiencing significant life events such as the death of a loved one, illness, or divorce.
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