Personal Cash Management is available for anyone who needs help with the organization and regular processing of the non-advisory aspects of their personal financial affairs. This category includes personal bookkeeping, recordkeeping, bill paying and investment data aggregation services.
As a Personal Cash Management customer, you'll have a dedicated Client Assistant who meets with you on a recurring basis or works on your account remotely. All of our Client Assistants operate within a system of institution-quality checks and balances to give you greater peace of mind.
Hiring Commonwealth Cash Management to manage your personal bookkeeping and bill paying also provides the comfort that comes with knowing your finances are in order. We give you a comprehensive presentation of your financial picture, allowing you to feel more in control — and making life a little easier for you and your professional advisors.
Our Personal Cash Management services include some or all of the following depending on your wishes:
- Bill paying and mail organization
- Balancing and reconciliation of customer checkbooks and accounts
- Budgeting and cash planning
- Making bank deposits and transfers
- Monitoring and reconciling credit card activity
- Organizing tax records and other paperwork in preparation for handoff to accountant, financial advisor or attorney
- Interacting with all professional advisors
- Debt reduction and/or negotiating with creditors
- Handling payment questions and disputes with vendors
- Managing and reviewing insurance paperwork
- Medical paperwork assistance
- Investment tracking
- Organizing estate planning
- Document management for identity theft protection
- Notary public services
- Lockbox mail service for incoming mail
- Compiling reports and statements (available via print or the Web) that summarize your financial situation
CCM always performs these duties based on your needs and preferences. For instance, seniors might want to hand over responsibilities such as paying bills and keeping track of their medical insurance records. Affluent individuals, meanwhile, might prefer the above services, plus investment tracking and other tasks related to helping them manage their assets.