What is ‘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.
Explaining ‘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.
Further Reading
- The business enterprise in the age of money manager capitalism – www.tandfonline.com [PDF]
- Meta-analyses of financial performance and equity: fusion or confusion? – journals.aom.org [PDF]
- Money manager capitalism – www.elgaronline.com [PDF]
- A simple test of the Fama and French model using daily data: Australian evidence – www.tandfonline.com [PDF]
- Money-manager capitalism, capital flows and development in emerging market economies: A Post-Keynesian institutionalist analysis – www.elgaronline.com [PDF]
- Take the money and run: The business enterprise in the age of money manager capitalism – mpra.ub.uni-muenchen.de [PDF]
- Should macroeconomic forecasters use daily financial data and how? – www.tandfonline.com [PDF]
- Understanding the credit crunch as a Minsky moment – www.tandfonline.com [PDF]
