Prevent Financial Fraud with a Daily Money Manager

Prevent Financial Fraud with a Daily Money Manager by Peter Gordon{Read in 2:50 minutes} Experts say that a major way of preventing financial fraud or financial elder abuse is to have another set of eyes—beyond those of family and friends—oversee finances and financial decisions, especially for seniors.

As a daily money manager, I help people who may not have anyone else to pay their bills, usually seniors. I can also work with high-net-worth clients who want to hire a professional to manage their bill-paying responsibilities.

A lot of people aren’t aware that daily money management services exist. When I tell people what I do, they often say, “There’s such a need for that!”

My role is to make sure that:

  • My clients’ bills are paid.
  • All of the financial transactions running through their lives are theirs.
  • There’s no fraud, which is rare.
  • Their insurance claims are processed properly.
  • They have an idea of what their assets and needs are.
  • They know whether there’s going to be a surplus or a deficit at the end of the month, to ensure they have the money they need to live on.

Every client is different. Some of my clients have more money than they’ll ever need, but others are just squeaking by. Some are still able to work, but others aren’t.

Many seniors fall prey to financial fraud because they’re told that they need to do something right away. For a variety of reasons, they don’t take the time to ask someone else about it.

That’s where a trusted professional can come in. Any successful sale happens because the person who is paying to solve a problem trusts the person they’re engaging with to take care of it. When someone calls on a daily money manager, they do so because they trust us to help them, which is particularly important because we’re handling their money.

If you or a loved one has the need for a trusted daily money manager, please contact me to find out how I can help. You don’t have to hire me, but at least find someone to be that second set of eyes for your financial matters.


Peter Gordon

New York Financial Organizers, Inc.
peter@nyfo.nyc

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