Questions and Answers
What is a Money Concierge?
As a Money Concierge, I provide hands-on, customized solutions to improve the way you manage the details of your financial life. Depending on your needs, that may mean helping with day-to-day financial tasks, finding ways to save money and make smart choices, getting your finances on track, organizing important records, providing fiduciary assistance, or coordinating with other professionals.
My services are built around you. I may handle particular responsibilities for you, work alongside you, or help you establish better systems for managing them yourself. The goal is to simplify and safeguard your financial life while giving you more time and reducing the stress of managing all the details.
Is a Money Concierge the same as a daily money manager?
Daily money management is an important part of what I do, but my services extend beyond traditional daily money management.
A daily money manager typically assists with recurring tasks such as bill payment, account reconciliation, financial paperwork and recordkeeping. As a Money Concierge, I offer a comprehensive suite of services to help improve all aspects of your financial life. Rather than focusing primarily on recurring financial tasks, I can also help address individual needs and projects as they arise - serving as a resource for the many financial details and decisions that don't always fit neatly into traditional daily money management.
Who can benefit from these services?
Anyone who lacks the time, desire or ability to manage some or all of the details of their financial life may benefit.
Clients may include older adults who want assistance with everyday financial tasks; busy professionals, business owners and retirees who would rather spend their time elsewhere; widows, widowers or divorced individuals adjusting to new financial responsibilities; adult children helping aging parents; people serving as fiduciaries for someone else; and individuals or families whose financial lives have simply become more complicated than they want to manage themselves.
How do I know if I could use some help?
Sometimes there are obvious signs: bills are being missed, paperwork is piling up, accounts aren't being reconciled, important records are difficult to locate or financial tasks are becoming overwhelming.
But you don't need to have a problem to benefit from assistance. You may simply be spending more time than you'd like paying bills, organizing records, researching purchases, dealing with service providers or coordinating with your professional advisors.
A useful question is: Are financial details taking more of your time and attention than you want to give them? If so, there may be opportunities to simplify how they're managed.
Will I lose my independence or control?
No. You decide what you want to delegate and remain in control of your financial decisions.
Some clients want to have specific tasks handled for them. Others prefer that we work together, and some primarily want help establishing systems they can manage themselves.
The objective is not to take control away from you. It's to make your financial life easier to manage.
Will I be giving up control of my accounts?
No. Hiring Grace Financial Care does not ordinarily require you to give up control of your bank, investment or other accounts. The access or authority I have, if any, depends upon the services you request and our agreed-upon arrangement.
When I am formally appointed to a fiduciary role, such as agent under a power of attorney, executor, trustee, conservator or Department of Veterans Affairs-appointed fiduciary, my authority is determined by the applicable appointment and governing documents.
Do I still need my accountant, attorney, financial advisor and other professionals?
Yes. Grace Financial Care does not replace these professionals or provide legal, investment or tax advice.
Instead, I can work with your existing professional team, helping organize information, handle agreed-upon tasks, follow up on action items and coordinate communication when appropriate. If you need a professional you don't already have, I may also be able to introduce you to qualified professionals in my network.
How do you charge for your services?
Fees depend on the type of service, the amount of time involved and the complexity of your needs. Some services may be provided on an hourly basis, while others may be structured differently depending on the engagement.
An initial consultation gives us an opportunity to discuss what you're looking for, determine how I may be able to help and explain the applicable fees before you decide whether to proceed.
Your Money Concierge. More time. Less financial stress.