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Is Daily Money Manager right for you?

Time is your most valuable resource. We believe that paying bills and day to day money management shouldn’t distract from your busy calendar. LBMC Family Office will take on the worry and stress resulting from these day to day tasks, allowing your family the freedom to invest in quality time with one another.

 

How Daily Money Manager Works:


Bills are mailed or sent electronically to LBMC

Bills are reviewed, paid & expenses are tracked

Documents are stored electronically

Simple, monthly reports are delivered to you

Choose the level of service that fits you best for a single fee:

List of Services Personal Money Management Total Money Management
Bill Payment, Personal Banking & Account Reconciliations
Sorting & Electronic Storage of Mail, Expense Tracking & Fraud Oversight
Investment & Insurance Checkups
Maintenance of Personal Financial Statements
Budgeting and Cash Flow Management
Financial Oversight

Getting Started: What to Expect

  1. Parties agree to the Terms of Service by signing the LBMC Engagement Letter.
  2. Your LBMC personal financial manager requests your most recent statements and/or online access to your accounts.
  3. A list of regularly paid bills is compiled by your LBMC personal financial manager, including due dates and amounts.
  4. A new checking account will be established with your current financial institution and LBMC will be listed as the signer. We suggest the account be funded to cover three months of expenses.
  5. Your LBMC personal financial manager will update the mailing address for paper statements, or the email address for electronic statements, to an LBMC address.
  6. Bills arrive and are paid electronically on the due date. You have the option to approve all bills before they are paid. We monitor the accounts and request additional funds as needed.
  7. Your accounts will be reconciled monthly. You will also receive a monthly electronic package that will include an expense summary.

Additional Benefits of Daily Money Manager

  • We file annual payroll tax returns for Household Employees.
  • We monitor your accounts for fraudulent activity.
  • We coordinate with your LBMC tax professional to provide Charitable Contributions, Payroll Taxes, and other deductible expenses we’ve paid.
  • With electronic access to your accounts, we can download the annual tax statements and provide them to your tax professional.
  • We review and renew Annual Insurance Policies.
  • We ensure Annual Exclusion Gifts are made timely and are well documented for tax reporting.
  • We coordinate with your tax professional on tax efficient strategies for charitable giving.
  • We request your permission to provide periodic insurance and investment checkups.

By hiring LBMC Family Office, you can take advantage of a solution that:

  • Provides peace of mind that your bills are paid properly and on time
  • Offers individualized, responsive service, with a dedicated, trusted professional
  • Provides a professional partner who knows where and how to access personal financial documents
  • Ensures personal financial documents are stored securely in one location
  • Provides a trusted team who will make the on-boarding process as seamless and painless as possible
  • Establishes a streamline of information directly to your tax professional, banker, attorney, etc.
  • Simply put, can help you get back to the things that matter most to you

Because of the many services that the LBMC family of companies offers, we have the advantage of internally coordinating with other financial services. A personal CFO who can work directly with your team of professionals is always just a phone call away. Contact us to meet the team and enjoy a free consultation to determine how working with LBMC Family Office will benefit you and your family.

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