Daily Money Manager - DMM

Filed Under »
Dictionary Says

Definition of 'Daily Money Manager - DMM'

A person who takes over the day-to-day financial tasks for those who are unable to perform these tasks on their own. A variety of people employ daily money managers, (DMM's) ranging from elderly clients to those simply too busy to maintain total control and accuracy of their financial needs. Some tasks performed by DMM's include bill payments, preparing tax documents, wire transfers, monthly paperwork and balancing, security checks, and basic deposits/withdrawls.
Investopedia Says

Investopedia explains 'Daily Money Manager - DMM'

The demand for daily money managers has been growing steadily since the beginning of the 21st century. This is in part due to the increasing population of the elderly. While many children attempt to take on the task of managing their parents finances, many find it difficult as well as time consuming. The growth of the industry can also be attributed to the increase in dual income families - with both parents working, there is often not enough time to run around ensuring documents are properly signed or bill payments are processed on time.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Wealth Management

    A professional ...
  2. Asset Management

    1. The ...
  3. Private Banking

    Personalized ...
  4. Online Banking

    The performance ...
  5. Email Money Transfer - EMT

    A retail banking ...
  6. Icahn Lift

    The name given ...
  7. Gentry-De La Garza Model

    A different way ...
  8. Tenbagger

    A stock whose ...
  9. Diworsification

    The process of ...
  10. Master Notes

    High-quality, ...

Articles Of Interest

  1. Stop Scams In Their Tracks

    Find out how to protect yourself and your loved ones from financial fraudsters.
  2. Shopping For A Financial Advisor

    Finding your perfect advisor is as simple as shopping for a car. Read on to learn more.
  3. The Alphabet Soup Of Financial Certifications

    We decode the meaning of the many letters that can follow the names of financial professionals.
  4. Find The Right Financial Advisor

    Learn how to weed out those who are just out to make a quick buck.
  5. Advisors: Tips For Providing For Older Clients

    Make sure the needs of baby boomers and their parents are met - if not exceeded.
  6. Financial Planners: Specialize In Seniors

    Find out how this demographic has all the needs to keep your firm busy year-round.
  7. Is Growth Always A Good Thing?

    Getting big quickly looks good, but companies can get into trouble when they do it too fast. Find out how to spot this trouble.
  8. Can Regular Investors Beat The Market?

    With the big name competition out there, hard-working people who invest have a tough time beating the market.
  9. Carl Icahn's Investing Strategy

    Buying up failing investments and turning them around helped to create the "Icahn lift" phenomenon.
  10. Buy-And-Hold Investing Vs. Market Timing

    If volatility and emotion are removed, passive, long-term investing comes out on top.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center