Standards of Practice

Guided by the AADMM code of ethics

My Standards of Practice for Daily Money Management

As a Daily Money Manager (DMM), I align my services with the high professional standards set forth by the AADMM (American Association of Daily Money Managers). Below is a summary of the core principles and obligations I commit to in my work with clients:

1. Professionalism

I conduct myself in a manner that reflects positively on the profession and upholds the reputation of daily money management.
If any real, perceived, or potential conflict of interest arises, I disclose it in writing and obtain informed consent from the client before proceeding.
I engage in fair competition and maintain respectful relationships with other professionals.
I maintain all necessary licenses, permits, certifications, and insurance required by law.
I will not offer additional services outside my competencies unless properly qualified and licensed.
I will not condition my daily money management services on a requirement that a client use other services I might offer.
Before beginning work, I provide a written agreement clarifying the services, fees, payment methods, scheduling, and billing practices; the client acknowledges this in writing.

2. Confidentiality

I protect all confidential and sensitive client information and do not disclose it without the client’s explicit consent.
When disclosure is necessary, I limit it strictly to what is relevant and authorized.
I may assist clients in communicating necessary information to third parties, but only with client authorization.
Confidentiality remains paramount, regardless of who pays me.
Before any disclosure, I confirm that the client has authorized it, whether via verbal direction, power of attorney, or other formal authorization.

3. Competence

I deliver services only within my areas of knowledge and skill, continually maintaining and updating my expertise.
If a client needs assistance in areas beyond my competence, I seek consultation from qualified professionals or refer the client appropriately.

4. Integrity

My services are rendered honestly, transparently, and with the client’s best interests as my priority.
I do not accept incentives from service providers that might compromise impartiality.
I avoid dual roles that might create a conflict (for example, representing both a client and a service provider).
I do not engage in dishonest, fraudulent, or deceptive practices.
All marketing and client solicitations are truthful and not misleading.

Accountability:

By adhering to these standards, I hold myself accountable to my clients and to the professional community. I am committed to transparency, fairness, and excellence in every service I provide. Click HERE to read the official AADMM Standards of Practice.

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