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Rotary Happenings: New business opportunity featured at Rotary meeting

By Staff | Feb 11, 2015

A fairly new business model is popping up around the country. A business model that is tailored specifically for the management of personal and business financial needs beyond just bookkeeping or accounting.

This type of business takes a truly personal approach to the needs of individuals and small businesses and offers the services of a Daily Money Manager (DMM).

Rotary’s speaker this week was Islander, Debi Almeida owner of Sanibel Blue on Sanibel an insured, bonded, and certified American Association Daily Money Manager.

As defined by Debi, “a Daily Money Manager is a professional who brings clarity and order to managing personal or business affairs”.

Sounds pretty straightforward doesn’t it?

But it isn’t that simple, this is not all business, but includes forming a personal and trusting relationship between client and DMM.

Almeida own personal story brought her to the realization that many people at certain points in their life need someone to take on the stress of handling the everyday and long-term responsibility for financial matters in their life.

The American Psychological Association states “money is the biggest cause of stress in life, by far”.

This business eases the burdens for many seniors, chronically disorganized, persons with disabilities, frequent travelers, technology-adverse persons, busy professionals, and high net worth individuals.

Almeida takes a very personal approach to this business, meeting and interviewing each potential client to evaluate their compatibility.

This is essential for building trust and establishing the clients confidence that she will hold all business affairs in great confidentiality and will adhere to a strict code of ethics.

What are the typical services Almeida handles in her DMM practice?

Here are a few: bill-paying – preparation of checks for signature; balancing checkbooks and maintaining organization of bank records; preparing and delivering bank deposits; organization of documents, legal papers, etc.; notary services; contacting phone and cable companies for service changes; booking flights, tracking your frequent flier miles; acting as your personal representative with third parties, and in home administration and personal financial care.

The age demographics on Sanibel and Captiva do point-out the fact that many of our residents are in their senior years.

Handling financial matters ourselves becomes more difficult in this technological age – everyone is expected to know how to use a computer.

Well, not everyone does particularly in a certain age bracket, causing duress for many. How many of us have had to call the phone company to straighten out a bill, only to be given the run around and confused by the companies handling of the situation.

How many of us have received medical bills and don’t understand the charges posted on those bills? And what about this situation, when your family up North thinks you might need some help handling your financial matters but you’re not ready to hand over this to your children or any of your relatives.

On the other hand, worst yet, you have no family. Many families need a financial gatekeeper or in-home administrator to coordinate household affairs, handle the reconciliation of bank and investment accounts and statements, or organize tax documents.

Many high net worth individuals need help finding legal, tax, and community resources and making travel arrangements.

Sadly, there is a need to lookout for the possibility of financial elder abuse and fraud, unfortunately that can happen to even the best of us.

Your DMM can do credit monitoring, be appointed as your power of attorney or personal representative, prepare budgets, seek debt reduction, organize your estate documents, and even help with funeral arrangements.

Your DMM is an important investment in itself; it can ease your mind and allow you concentrate on other matters whether personal or business. Sounds like everyone could use a Daily Money Manager, I know I could.

Call Almeida at Sanibel Blue, Sanibel for more information.

The Sanibel-Captiva Rotary Club meets on Friday mornings at 7 a.m. at the Dunes Golf & Tennis Club, Sanibel.

Upcoming Friday morning speakers: Feb. 6, Mary Bondurant-Sanibel Relay for Life Event benefitting the American Cancer Society; Feb. 13.

Meeting will be held at the Sanibel Community House, Rotary Arts and Crafts Fair Set-up, and Feb. 20, Dr. Jeffery Allbritten, President of the new Florida SouthWestern State College. Guests are always welcomed.