The American Association of Daily
Money Managers is committed to promoting high standards of client
services provided by its members.
As Daily Money Managers (DMMs), we provide personal business
assistance to clients who have difficulty managing their personal
monetary and business affairs. As DMMs, we are not acting as
accountants, financial advisors, or attorneys, unless separately
educated and properly licensed to do so.
- DMMs shall have concern for the well being of their clients.
- DMMs shall provide services in an equitable manner for all
clients.
- DMMs shall not exploit their clients financially, socially,
emotionally, sexually, physically or in any other manner. DMMs
shall avoid those relationships or activities that interfere
with professional judgment and objectivity.
- DMMs shall disclose any affiliations that may pose a
conflict of interest.
- DMMs shall not exploit a relationship with a client for
personal or financial gain.
- DMMs shall strive to ensure fees are fair, reasonable and
commensurate with the services performed. All fees for daily
money management services are to be discussed with the client or
other person accepting responsibility for payment prior to the
initiation of services.
- DMMs shall take all precautions to avoid harm to the client
or his or her property.
- DMMs shall respect the rights of their clients.
- DMMs shall protect the client's right to privacy and
confidentiality in accordance with the laws of the state where
the services are performed.
- DMMs shall maintain detailed, accurate, financial records
for the client, based on information made available from client.
(Deposits into and withdrawals from financial accounts shall be
documented in terms of the source of the deposit and the purpose
of the expenditure.)
- DMMs shall achieve and maintain high standards of
competence.
- DMMs shall accurately represent their professional
experience and training when requested by their client, client's
family or someone looking out for the client, prospective client
and other professionals.
- DMMs shall keep current with issues affecting their clients
(health insurance, consumer fraud, etc.)
- DMMs shall keep current with public and private services
available to their clients, for use in resource referrals.
- DMMs shall refer clients to other service providers or
consult with other service providers when additional knowledge
and expertise are required.
- DMMs shall define his/her role clearly to other
professionals.
- DMMs shall treat clients, family members, colleagues and
other professionals with fairness, discretion and integrity.
Click here for a printable version of the Code of Ethics.
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