The term “vendor” typically brings to mind companies who sell products or services to other businesses. But individuals use vendors, too. Our utility providers, cable company, dog walker, lawn care crew, cleaning service, and even our bank are examples of household vendors.
Any of these vendor relationships could require attention at various times and for different reasons. Every company has its own scheduling procedures, payment policies, point of contacts, and service terms. Engaging Baker DMM to provide household vendor management services helps seniors and their caregivers navigate vendor demands.
Equally important, engaging Baker DMM for household vendor management adds a layer of protection between susceptible seniors and the product or service providers’ intent on taking advantage of their vendor relationship to financially exploit an elderly customer.
Responsible household vendor management for seniors begins with a thorough review, ensuring best matches between your senior relative’s service needs, their vendors, and of course their financial resources.
Led by a Baker DMM team member and conducted with the senior (when possible) and/or their caregiver, our goal is ensuring each current household vendor is necessary, affordable and performs as promised. We’re also looking for any past due balances.
A household vendor review is also an important part in taking care of an elderly parent’s finances because it could reveal critical warning signs of the senior’s decreasing financial competency or financial exposure. You may learn they need more comprehensive financial help than originally thought. A senior’s failure to pay bills in a timely manner could signal decreasing financial awareness; carrying partial balances could indicate low funds which in turn may suggest fraud or theft.
With the household vendor review complete, Baker DMM attends to ongoing vendor management tasks as necessary including but not limited to:
Reviewing credit and payment policies
Addressing quality control issues
Ensuring timely payment in full
Unscrupulous vendors often prey on the elderly, marking them as perfect targets for financial exploitation. Our mission is to protect your senior relative from these vendors! Baker DMM works to ensure your household vendors deliver reliable, quality products and services, at agreed upon rates, with integrity and respect.
Certainly, the senior, or perhaps the caregiver depending on the situation, is the final decision maker. You may choose any vendor or make a potentially risky financial decision. Baker DMM does not force our clients into uncomfortable situations or to accept advice.
Our purpose is to become a trusted partner by helping our clients maintain excellent financial health through affordable solutions to daily money management problems. Attentive, practical, and consistent household vendor management is just one of those affordable solutions. Call us, let’s talk about all the ways Baker DMM helps you protect your elderly parents’, or another senior relative’s, financial future.
“Baker DMM provided me with a comprehensive look at my personal financial situation. Establishing a budget and receiving their monthly financial reports were invaluable to me. I now have a concrete plan for managing my cash-flow more efficiently and will be able to better handle my personal finances moving forward.”
Commercial Real Estate Services
“Baker DMM has been a tremendous resource in helping us organize our financial affairs, think about our long-term goals, and move in the right direction to achieve those goals. We are very grateful to Baker DMM. Chris Baker is a fair, honest, and diligent professional and who always made himself readily available if we had questions. We will continue to recommend Baker DMM to family and friends.”
Senior Consultant at Vaco Resources
“Baker DMM took the time to clearly understand what I was looking for. They were right on target with the following: 1.) Understanding my needs 2.) Making sure I knew what to expect during the engagement 3.) Being on-time completing the project 4.) Above all, they followed up with me to make sure they completed the work to my satisfaction and explained and presented the completed work to me.”
Vice President, Financial Services
“I have had a professional working relationship with Chris for the past 5 years. He is a person of unquestionable integrity who is dedicated to producing quality work while maintaining a professional, yet personable, relationship with clients.”
Compliance Manager, Bluelinx Holdings, Inc.