A question I get a lot is “just what is a daily money manager (or DMM)?” Not all DMMs perform the same functions. Depending on their training and client base, their services will vary. Another common question is “well who needs a DMM anyway?” Again, this will vary. Some people need a DMM for just a short period of time with the goal of learning to do it all themselves. Others need a DMM to monitor their finances on an ongoing basis.
Here is an excellent article that explains the who and what in more detail – Daily Money Manager: The Most Important Job You’ve Never Heard Of