This AGREEMENT, dated _____________________ between TV Daily Money
Management (“TVDMM”) and _________________________________________
(“client”) confirms our understanding of the terms, objectives and limitations of the
services we will perform.
Now, therefore, the parties hereto agree as follows:
1. SERVICES TO BE PROVIDED. TVDMM will provide personal financial management services. All services to be performed will be done so in accordance with the American Association of Daily Money Managers (“AADMM”) Code of Ethics and in accordance with current state and federal laws.
• Paying Bills: Bills will be paid with handwritten checks to be signed by the client or we can set up bill pay through your bank. And if necessary, make sure your estimated taxes are paid on time each quarter. *Please note, we will never obtain signature over any of your accounts.
• Preparation of Reconciliations: Bank accounts and credit card accounts will be reconciled monthly for your review. They will be balanced monthly, either by hand or using personal financial software, which is purchased by you and maintained on your home computer.
• Review and Sort Mail: Mail that is placed in the designated mail tray will be opened and sorted. We will throw away any junk mail, shred sensitive data, and file the things that need to be kept.
• Personal Banking: We can make deposits or withdrawals at your financial institution and with your authorization resolve problems with your bank statements. With or without financial software, we will schedule and monitor loan balances and CD maturity dates.
• Organization and Maintenance of Files: We will establish a filing system that works best for you and meets your needs. We will file your documents at each visit in order to ensure your records are up to date.
• Budgeting and Cash Flow Analysis: We can analyze your income, spending and debts to help you stay on track or make important financial decisions. We can draft a monthly budget that will assist you in reaching your financial goals, such as savings or reducing debt.
• Fraud Review: We can review your credit report with you to be sure it is accurate, in addition to monitoring your accounts for unusual activity.
• Organization of Tax Documents: We will maintain a tax folder and organize your tax documents and help you fill out the organizer provided by your accountant. We will work with your accountant to make sure your taxes are prepared on time.
• Negotiation with Creditors: With your authorization, we can help you negotiate payment plans and work with your creditors to have incorrect information removed from your credit report.
• Medical Claims Submission: We will review the statements from your insurance companies (“explanations of benefits”) and the bills from providers to make sure claims have been processed properly.
• Organization of Important Information: We can assist you with important document retention and storage. For insurance purposes, we will photograph and list all of your personal property and provide you with the list in hardcopy and digital formats. We will create a binder of important information in case of a medical emergency, an emergency in the community, a death in the family or other critical situations.
2. TERMS OF AGREEMENT. This service agreement will begin on the date of this agreement and will remain in force and effect until services are terminated by either party in writing. Services will be performed at the client’s residence, at a mutually agreed upon day and time, not less than twice per month. The client will be available during the agreed upon appointments to review documents and sign checks.
3. PERFORMANCE. During the period of this agreement, TVDMM shall perform any and all services requested with competency and integrity. TVDMM will maintain the proper licensure and professional liability insurance. TVDMM will respect your privacy and all of your information will remain strictly confidential. All of your documents will remain at your residence. You may authorize us, in writing, to discuss certain matters with a third party as you deem necessary. Upon your request, we may provide additional services if we determine they are within reason and within the scope of our expertise.
4. COMPENSATION. Initial organization and set-up fees are billed at $65 per hour. Once organized, monthly money management fees are also billed at $65 per hour and payment (cash or check) is due when services are performed. TVDMM will also seek reimbursement for various supplies, such as a shredder, filing folders, and other office supplies that is deemed necessary and purchased by us at your request.
5. PROFESSIONAL RESPONSIBILITY. TVDMM will bring clarity and order to your daily management of bills, budgets and record-keeping. Our goal is to educate you about your finances and keep you financially organized. We will not seek signature over any of your financial accounts, we will not provide investment, tax or legal advice, and we will not discuss your financial affairs with any third parties.
6. ENTIRE AGREEMENT. This agreement will go into effect as of the date on page 1 and will remain in effect until such time as the Termination of Services Agreement is executed by either party.
Thomas Villano, DMM Date
Client contact information:
Telephone number: _____________________ (cell)__________________
Email address: ________________________________________________