Commonwealth Cash Management
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Mobile Individual

Customer Study No. 3:  Mobile Customer
Note: This story is based on an actual scenario involving one of our customers, but some details have been changed to protect the customer's privacy.

As a trainer for a professional sports team, Will found himself on a plane several times a week and rarely spent successive nights in the same location. He often returned home to an avalanche of mail and, more often than not, missed bill payments.

The reason for the missed payments was not that the young man lacked the financial means or the ability to pay bills online. Rather, they were the result of his focusing on the health and well being of his athletes instead of his personal finances. In fact, if his occupation had not required Will to live out of a suitcase and concentrate so intensely on the members of his team, his salary would have been well managed, well invested and secure. Unfortunately, this was not the case.

Will came to Commonwealth Cash Management without an investment advisor or an accountant. Although he had money invested in several CD's, he paid high interest charges because he banked with a local banking institution and overused his credit card during his frequent travels. He also faced ghastly late fees and overdraft charges due to his infrequent and sporadic bill-paying habits.

Working with CCM has allowed Will to rely on his dedicated CCM Client Assistant to take care of his personal bookkeeping and other chores. This includes paying his bills on time, depositing part of his paycheck in his investment account, and even stocking his refrigerator with groceries for his rare few days at home.

Will's Client Assistant soon assessed his bill-paying situation and created a customized system that was regular, organized and automatic. Now, whether Will is at home or on the road, he knows his Client Assistant is paying his bills on time, every time. And if he needs something while on the road, his Client Assistant is there to help him — be it wiring funds to him in another city, acting as his local "agent" with contractors and other service providers, or simply telling him the balances of his accounts.

Of course, Will also has 24/7 access to his full financial picture via wherever he goes. He now works with a regular accountant and a financial planner who are helping maximize the return on his invested earnings. And with, the three parties have access to the same information no matter where they are.

Copyright © 2007 Commonwealth Cash Management
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