Democratization of Finance and Investment

The democratization of finance is the process of removing control of the finance industry away from financial institutions and distributing power among the public. Democratization can come at various levels -giving access to what was previously only offered to institutional investors, to high-net-worth investors, and making services and solutions only offered to high-net-worth investors, to the mass affluent.

Largely driven by the advancement of technology, the democratization of investments also emerged from tighter regulations in investor protection. Higher transparency in products and fees drove many banks to switch from pure product-focused recommendations to standardized advice based on diverse product packages. Additionally, many banks had no choice but to widen the customer target group and offer, staying on the hunt for new revenue streams from recurrent advisory fees instead of commissions.

The advancement of technology contributed to the proliferation of wealth management services and the rise of non-financial players that offer low-cost, automated investments mimicking traditional portfolio management in the form of proprietary algorithms managing customer portfolios. We are already seeing big tech companies, such as Google, Apple and Facebook, looking to break into the financial services industry. While many expected Rob advisor platform endangers high-end wealth management, taking over its market share, the platforms ultimately cater to investors with lower assets. This brought a new kind of customer segment to the wealth management digital marketplace. Privileges that used to be reserved exclusively for HNWIs are becoming available for regular investors and retail banking customers.

Financial institutions have played catch-up to challenger banks and fintech companies for a few years now. Digital investment platforms have centred mostly on the needs of retail investors, while HNW and UHNW clients continued to rely on personal, relationship-based service. However, wealth managers are now realizing that this model is flawed, in that HNW clients expect a digital experience and services as part of their overall manager relationship. The challenge is to provide a low-cost, digital experience that matches the level of their personal service.

Effectively serving the world’s wealthy is going to get far more complicated in the years ahead. As the demographics of wealth shift, so will the needs and expectations of wealth clients. According to BCG, over the past 20 years, personal financial wealth globally has nearly tripled, rising from $80 trillion in 1999 to $226 trillion at the end of 2019. The group predicts that HNW and UHNW will remain the fastest-growing segments in North America and that the affluent band will be the fastest-growing segment in Asia, Western Europe, and the Middle East. The Middle East and Latin America are also expected to see their share of cross-border wealth grow slightly faster than the global average over the next five years.

With the large and growing affluent and HNW segments in mind, retail banks and asset managers need to use technology and hybrid models to aggressively undercut traditional wealth management providers and offer simple, but appealing, investment management technology across their existing client base. These offerings will be especially attractive to clients in markets with few established wealth management providers. Asset managers will leverage their superior investment capabilities to win new clients through direct channels.

As digitization lowers barriers to entry to wealth management as a business, the competition will intensify and offerings that once provided differentiation will face commoditization. In the past, offering this level of customization would have been cost-prohibitive. But advances in technology will allow wealth management providers to create highly tailored portfolios at a fraction of the current time and cost. The historical distinction between advisory and discretionary products will fade, as innovative mandates combine elements from both.

Forex Trading – Making The Right Decisions

Forex trading is all about making the right decisions. So many people fail at this important part of forex trading. They fail because they are unsure of what the right decisions are. Instead they usually go off gut feelings, an article they may have read, false tips, or some other type of false information.

MAKING PROPER TRADING DECISIONS

Forex trading is all about having the proper information and coming up with a winning trading strategy to make proper decisions trading. The exact method you use to come up with the information is up to you. How you come up with a winning strategy is totally up to you as well.

CHOOSING THE RIGHT ONLINE FOREX BROKER

Another wise decision a forex trader should make is coming up with the right online broker. Their are literally thousands of different online brokers to choose from. Coming up with just one can be tough because obviously no one will read up up on thousands of forex brokers just to choose one. The thing you want to look for when choosing a fx broker zero are low commissions, low spreads, sign on bonuses, cash back programs, low minimum deposits, and what regulations and accreditations they have.

LOW MINIMUM DEPOSIT FX BROKERS

The reason I suggested you should find a fx trading broker with low minimum deposits as a beginner is because starting out you have an opplrtunity to not lose as much money if your trades go bad. Foreign exchange brokers offer minimum deposits anywhere from $1 – as much as $5000. As a beginner you may not know these low $1 minimum deposit websites exist. These sites allow you to gain the knowledge and expertise to make higher dollar amount trades in the future as you become successful.

WHERE TO FIND GOOD FOREX TRADING INFORMATION

The internet is a great place to learn more about forex trading. With the amount education and trainings available online, a brand new trader would be able to become an expert trader without having to spend one cent. Websites like forex.com, investopedia, babypips.com all have trustworthy information that knew traders can use to gain knowledge with forex trading.

THE BIGGEST QUESTIONS ANSWERED

What is forex trading? One of the other biggest questions that arise when just starting out is when am I ready to make my first trade? Your ready to make your first trade when you know what currency pair you want to trade, at what price point you want to enter the trade and when to exit the trade whehter it wins or loses.

How do I Upgrade my QuickBooks Desktop to the Latest Version?

QuickBooks is an accounting software developed for US small-business owners and accounting professionals. It facilitates transaction records and operational reports. The developer and marketer of QuickBooks is Intuit Inc.

For the effective and efficient working of the software, you need to frequently upgrade it. It’s best to upgrade the QuickBooks Desktop software on a monthly basis. In the monthly update, there are only minor changes occurring in the software. In the yearly update, major changes in the application were added.

There are two methods for QuickBooks Upgrade 2020 to the latest version:

Automatically update the application.
Manually update the software.

You should have an active internet connection for the fast and proper download of the application or software.

Automatically Update the Application.

Proceed with opening the QuickBooks.
Move the cursor to the ‘Help’ menu.
Select the ‘Update QuickBooks’ tab.
Then, from the ‘Update QuickBooks’ window, select the ‘Update Now’ tab.
Tick a checkmark on the “Reset Update “box, for erasing all the early-downloaded updates,
Click on the ‘Get Updates’ icon.
Start the QuickBooks application again.

Automatic Download for Future

Proceed to the ‘Help’ menu and select the ‘Update QuickBooks’ option.
From the ‘Update QuickBooks’ screen, choose the ‘Option’ tab.
Select the ‘Radio button’ for the ‘Yes’ option to switch on the automatic updates.
At last, click the ‘Exit’ option.

Also Read: – QuickBooks Error H505

Manually update the Software.

Go to the ‘File’ menu.
Select the ‘Close Company/Logoff’ option.
Again, go to the ‘File’ menu, click the ‘Exit’ tab.
Right-click on the QuickBooks application, and then click the ‘Run as Administrator’ option.
From the ‘No Company Open’ windows, move to the ‘Help’ menu & then choose the ‘Update QuickBooks’ option.
Navigate to the ‘Update Now’ tab, and then check-mark the ‘Reset Update’ box.
Click on the ‘Get Updates’ option.
When the screen displays ‘Update Complete’ shut-down the QuickBooks application.
Open the QuickBooks application again.
You will see the install update message.
Click on the ‘Yes’ option.
Restart the system, once the installation is complete.

Conclusion

This article has covered almost every information and instruction regarding Upgrade QuickBooks to its latest version. QuickBooks offers QuickBooks Premier Plus for accessing the application and services. If you still get any issues or want any QuickBooks Professional help and guidance, feel free to contact this number: 1-877-349-3776.

What are the major benefits and limitations of PPF Accounts?

The fixed deposits have been the primary choices of the majority of people in India. For those, it could be one of the best modes of investment with assured returns because the rate of interest is also higher than other types of deposits.

Let us discuss other significant benefits and limitations of PPF Accounts in brief.

Advantages of PPF Accounts:

The major advantage of depositing money in a PPF account is that whatever interest you will earn in between, is a tax-free return.
The rate of interest in case of PPF investment is comparatively higher than the traditional fixed deposits (FD).
You are eligible to avail a tax rebate up to 1,50,000/- as per 80C of Income Tax Act.
You can start investing with a minimum amount as 500/- and a maximum of 1,50,000/- per financial year.
You can deposit said amount in monthly instalments (12 months) by cheque, cash, bank transfer.
A partial withdrawal is allowed but after 7 to 15 years of maturity period.
The PPF account can be opened in post offices, the recognised banks in India whether it is public or private sector banks.
Thus Investing in public provident funds offer several benefits when it is compared to other types of deposits like saving deposits, fixed deposits, recurring deposits or Flexi deposits.

Disadvantages of PPF Accounts:

The PPF accounts have a lock-in period of 15 years which can be extended in 5 years blocks, meaning you cannot withdraw the funds before 15 years.
The first financial year in which you have opened the PPF account will not be considered, meaning the maturity period would be fully 15 years besides the first year.
Only one PPF account per person is allowed, however, you can transfer your account anytime in any organisation.
The premature withdrawal is not allowed till the 3rd year from the date of opening, however, you can get a loan against the balance amount after a 3 to 6 years time period.
The monthly interest rate shall be applicable only if you deposit money into your PPF account from 1st to 5th of every month, otherwise, you would not earn any interest for that month.

Eligibility:

Any individual who is resident of India is eligible to open a PPF account in the post offices or any popular banks, but an NRI can’t open a PPF account in India.

Nevertheless, if you have already opened a PPF account before having NRI status, you can still operate it up to 15 years but it can’t be further extended.

The PPF account of minors can also be opened but it shall be operated by their parents.

How to open a PPF Account?

The process of opening a PPF account is very simple. You can either approach the post offices and commercial banks or can apply online.

You need to carry proof of identity, address and passport size photo and then fill the application form (Form A). The minors PPF account can also be opened under parents supervision.

If you hold an account in ICICI bank or HDFC bank, you can directly request for opening a PPF account through the internet banking portal.

Wrapping Up:

The PPF investments have always been preferred mode of investment for salaried as well as working professionals. The returns are not only guaranteed by the government but at the same time, it provides monthly compounding rate interest as well.

Moreover, the downside part, the rate of interest is not fixed depending upon the market and the lock-in period is also very long.

Examining Debt Settlement

Debt settlement is confused with financial management. The two are in fact quite different in how they work. I understand your worries about the settlement. I feel it is essential for anyone to avoid scams or worsening credit issues. Being hounded is not enjoyable and neither is remaining in a bad credit position. It can be hard to trust an online company. Word of mouth and independent reviews can only do so much.

Debt settlement will be defined along with what debt management is. This is in an effort to help you so that you will know exactly which product can help you the most. I have worked in this industry for several years offer you solutions to your financial burdens.

There are two types of financial solutions often confused: debt settlement and management. I will define both so that you can understand the differences between the two. Debt settlement is where you pay off your creditors with a lump sum. This lump sum is usually 50 to 89 percent lower than the amount owed. If you owe $100,000, you might be able to settle for $50,000. Of course, this is providing you have savings to settle with. The key to debt settlement is that you are able to pay a lump sum, not that you pay out over a given period of time. This process does not work for everyone. Given that you are required to have a lump sum for the payment amount, you have to act earlier with your debt issues than you might for other solutions. Keep in mind that with certain solutions you do not have to undergo bankruptcy, but you have more leeway in paying the debts off. Consolidation is one of those choices. You can consolidate your debts with a payment over time or a lump sum. Let the debt solutions work best for your situation by picking the correct one.

Using debt settlement if you do not have savings means the company or companies will not let you negotiate for a lower amount. They will want you to pay the entire amount in full even if that means paying a minimum payment for three decades. Debt settlement is not for everyone. Since it requires having a lump sum to give to the creditors, you either need savings or a consolidation loan. Working with an agency to negotiate for you typically means they have consolidation loans to offer you. In this way, you can use debt settlement to negotiate down your amount owed, obtain a consolidation loan to make the lump sum payment, and then pay the debt relief company. You should use a company that has the most advantage for you with regard to settling your debt. If you can get a loan to pay off the lump sum amount owed this can be helpful with the right company. You do have to be wary of the interest rate requested for the loan.

If you do use debt settlement with a consolidation loan you often pay a monthly payment plus interest to the debt help agency. You also pay a fee for the services provided to you. It is in your best interest to choose an agency that will settle your financial affairs all at once rather than one which settles each one separately in order to save money on the commission for settlement. This is completely different than management options.

Management differs from the settlement in that you are paying out over time. You set up a budget where you pay a little more than the monthly payment for one creditor. You do this until the creditor has been paid off. Already you can see the differences between this and settlement. In this manner, you do not negotiate, but create an arrangement on your own with a little help from the debt settlement company to see where you can save and start sending even more to one company.

The theory behind this option over debt settlement is that as you get one paid down, you use that money towards the next one, paying even more per month than you could have before. You repeat the process until all the money you were paying towards debt is now yours to save. The settlement clears it up in the beginning. Your financial burdens are over quicker when you use settlement versus management.

It is nice in theory to believe you could end your debt troubles all at once. Sadly, for someone who has waited too long or does not have any savings originally it is going to be harder to negotiate down. At the point you reach this harder situation for negotiation, you are also on your way to losing your good credit standing.

It is understandable that you might not want to face your debt issues. You might wish to avoid the situation because you are embarrassed or you feel as if you have failed. Things happen to you whether it is a loss of job, health issue, or something else. It is hard to live life, so you have not failed just because you are in a financial crisis. A failure to act will worsen the situation, so acting as soon as possible is important.

Debt solutions are only going to help you when you actively start seeking help. It is time to make a decision about your financial situation and end your debt troubles. Until you take action you will not be able to solve the money troubles you have. Furthermore, you may get into a worse situation. Do not wait until the bankruptcy is your only choice. It is not too late to speak with a representative about your situation.

I hope the above has been helpful to you need to make an educated choice about debt relief.

What Are The Advantages Of Holding An NRO Account?

If he moves abroad for whatever cause, an Indian resident can convert their regular savings account into an NRO account. Through this conversion, the NRI deposits the NRO account from their investments, loans, rent, etc. In the form of the Indian currency, all gets carried out.

Here are the benefits of holding an NRO account

NRO accounts provide many services to NRIs. For depositing and withdrawing money, you can do so either with a current or savings account. Daily deals would see NRO savings account opened by a person with not many transactions. It is because of the money that you get from your savings account. The NRO saving account, where you can obtain a deduction of up to INR 10,000 on the interest earned while filing returns, also provides an additional benefit. For investment purposes, you can vote for NRO recurring or NRO fixed deposit services.

The entire interest earned on behalf of NROs is taxable in the individual’s possession. Thus, no portion of the income would be considered tax-free, and any balance would be included in the taxpayer’s tax return. Non-residents, however, are not worried, as they can make use of the necessary exemptions for calculation purposes, which is approximately INR 2.5 lakh.
To reap the benefits of various tax provisions, NRO account holders need to ensure that additional work is done. Currently, 30 per cent of the interest earned from the NRO savings account is withdrawn, which is high. There are circumstances under which lower rates apply. However, you need to consult the bank on the same matter. It makes it essential to file tax returns and get refunds for individuals.

How to convert regular savings account to NRO account:

Notify the bank where you have your savings account that you have moved abroad and opt for an NRO account opening online.
Complete the conversion form that includes information about your KYC, new address details, contact point, etc. It can be accessed either from a branch of a bank or on the bank’s website.
Certify the form until finished. Provide documents such as a visit permit, PIO card, passport copy, etc., with the approved form.
If the savings account is a zero-balance account, you would need to change it to a minimum average balance savings account.

Preliminary Steps to Take Before Starting a House Cleaning Business

When it comes to starting a business, you need to have skills to get it off the ground. Every business requires a few preliminary steps to take so you can run your business smoothly, and the house cleaning business is no exception. It can be a profitable business because most people do not have time to clean their houses as they spend all day working.

However, rendering a professional cleaning service is not that easy even if you clean your house daily. If you are looking to open a house cleaning business, there are a lot of things you need to do to make it to the top. The best part of this business is you do not require an initial investment. By spending as little money as possible, you can earn a lot of money.

Plan
Before you plan your business, the first step is to determine if you are suitable for this kind of business. Cleaning is a bit hard. It is strenuous work. You must have physical stamina. Once you are sure that you fit entirely into this kind of business, the next step is to start planning.

You will have to think about what kind of cleaning service you will offer to your clients. For instance:

Will it be general cleaning or green cleaning?
Will it be after-party cleaning or something else?
If you are mulling over providing different types of services, you should plan how you will manage all of them. You will also have to decide whether you buy your own cleaning tools or require your clients to provide them to you. Even if you are using your tools, you should be flexible with them.

Fulfill all legal formalities
Since you will be cleaning the premises of other people, they will not let you enter their homes unless you prove that you do not have a criminal background.

It is crucial that you have got done police verification before you opt for such work. If you have a clean background, it will be much easier to get work.

Set up an accounting system
Whether you have picked one type of cleaning service or are offering a combination of them, you will need a reliable accounting system to record all invoices, expenses, and taxes. Ensure that you have complete knowledge about using accounting software and do not mix your business records with personal costs.

If you do not know how to use such software, you can learn it through online classes. You can also consider hiring an accountant who will be responsible for keeping all records. Do not forget that you will have to pay a salary to them. In case you are running out of money, you can take out very bad credit loans with no guarantor.

Set a smart pricing strategy
Setting a price limit is also an essential part of business planning. You should charge for your service based on the quality. The prices need to be neither too high nor too low. If you keep costs very low, people will assume that your services are not up to par and inexperienced.

However, it does not mean that you will charge too high because otherwise, you will lose your clients before attracting them. It is crucial that you set realistic prices for your service. For instance, you can charge on an hourly basis or a full home basis.

However, you should charge per home basis because clients will not mind if you take some more time. Further, the estimation of prices needs to be based on the area of a house. Of course, prices for two different size homes cannot be the same.

Market your business
Your clients will not get to know about your business until you advertise it. The first step of marketing is creating a website. Having a website increases credibility. They will be able to know about your business in detail.

The next step is to create posts for Facebook, Twitter, and other social media networks. You will have to invest in additional marketing methods such as flyers, door hangers, pamphlets, and leaflets. Do not forget to get your business card published. This will also do indirect marketing for your business.

A house cleaning business follows the same steps as other businesses. You need to have a business plan that outlines:

Who your target audience will be
What kind of cleaning services you will offer
How you will market your business, and above all;
How much money you have to cover all preliminary expenses
However, if your cash reservoir has fallen short, you can take out text loans. Make sure that you apply for these loans with a reputed direct lender that charges affordable interest rates.

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Exploring Maruti Car Options in Thane: A Comprehensive Guide

In the bustling city of Thane, finding the Maruti Car Showroom in Thane can be an exciting yet daunting task. With numerous options available, making an informed decision requires thorough research. This article aims to be your go-to guide for navigating the Maruti car market in Thane without explicitly mentioning showroom names.

Understanding Maruti’s Legacy

Maruti Suzuki, a renowned name in the Indian automotive industry, has established itself as a reliable and innovative brand over the years. The first step in your car-buying journey is to familiarize yourself with Maruti’s legacy, emphasizing its commitment to quality and customer satisfaction.

Popular Maruti Models in Thane

Thane’s car market offers a diverse range of Maruti models catering to different preferences and budgets. From compact hatchbacks like the Alto and Swift to family-friendly option like the Dzire , understanding the features and specifications of each model is crucial in making an informed decision.

Budget Considerations and Financing Options

Determining your budget is a pivotal aspect of car shopping. Whether you are looking for an affordable entry-level model or a premium variant with advanced features, Thane’s Maruti market has options for every budget. Additionally, exploring financing options, such as loans and installment plans, can make your dream car more accessible.

Comparing Prices and Discounts

To get the best deal, it’s essential to compare prices across different dealerships in Thane. While doing so, keep an eye out for seasonal promotions, discounts, and special offers. These can significantly impact the overall cost of your chosen Maruti model.

After-Sales Services and Maintenance

A crucial aspect of owning a car is ensuring reliable after-sales services and maintenance. Look for dealerships in Thane that offer comprehensive service packages, timely maintenance, and easy access to genuine Maruti Suzuki spare parts. This ensures a hassle-free ownership experience.

Customer Reviews and Testimonials

Harness the power of the internet by researching customer reviews and testimonials about various Maruti car dealerships in Thane. Real-life experiences from fellow car buyers can provide valuable insights into the dealership’s customer service, transparency, and overall satisfaction.

Exploring Thane’s Neighborhoods for Test Drives

Thane is a sprawling city with diverse neighborhoods. Make the most of your car-buying journey by exploring different parts of the city for test drives. This not only helps you get a feel for the car’s performance but also allows you to assess the accessibility of the dealership from your preferred location.

Environmental Considerations: CNG and Hybrid Options

In the era of environmental consciousness, Maruti Suzuki offers CNG and hybrid variants that align with eco-friendly initiatives. Explore these options to contribute to sustainability while enjoying the benefits of fuel efficiency.

Tech-Savvy Features and Connectivity

Modern cars come equipped with advanced technology and connectivity features. Explore the tech-savvy aspects of Maruti models available in Thane, including touchscreen infotainment systems, smartphone integration, and advanced safety features.

Conclusion: Your Maruti Car Journey in Thane

Finding the perfect Maruti Car Showroom in Thane requires careful consideration of various factors. From understanding Maruti’s legacy to exploring neighborhood dealerships and researching customer reviews, each step contributes to a well-informed decision. By following this comprehensive guide, you are well on your way to driving home your dream Maruti car in Thane. Happy car shopping!

What Is The Right Time To Upgrade Your Used Equipment?

Every construction equipment has a life that ends at a certain time or needs a proper makeover. Do you have old equipment standing useless in your fleet?

You must be thinking of replacing it as it surely will be taking over the space and putting the burden on your account. You need to be aware and mindful enough to figure out the right time to upgrade your used equipment so that it may last longer. Upgrading old equipment is a strategic decision that weighs the possible increases in productivity, efficiency, and safety with new purchases against the maintenance expenses of ageing assets.

If you are thinking of upgrading any of your old equipment recently, takes a moment to read this article to understand the right reasons for it. This blog is going to tell you about some of the most convincing reasons to upgrade your equipment.

When repairing cost increases
Equipment needs maintenance whether it’s new or old. However, the amount of money you spend and the punctuality of maintenance are what decide the life of the equipment. When you keep them safe from the beginning it will not take most out of your pocket. However, the delays in maintenance and using low-grade components to save money will deteriorate the equipment’s life.

Notice that when the expense of repairs and maintenance for used heavy construction equipment exceeds the cost of purchasing a new one, this is the right time to think about upgrading. Although it also depends on several other things you must make up your mind on it.

When engine hours meet the limit
The engine in the equipment has a limit of hours to run. Manufacturers provide enough warranties that the engine will run for several hours without any need for major repair. However, using the equipment after exceeding the engine run limits will harm the other parts of the equipment as well. If your budget allows, you must upgrade your equipment once the engine meets the limit.

Check the condition of the equipment
Apart from the internal components, the outer and general condition of the equipment may alone tell you about the right time of upgradation. When you see the major wear and tear and deterioration in the body, engine, brake system, and hydraulic system, you must think about the upgrade. Sometimes the issues in these systems are severe enough that may take more money on replacement which is not a smart option for sure. The decision to replace the machine becomes more than just a financial one if crucial components are affected. It also becomes an issue of maintaining a safe and effective work environment.

When the in-built tech is outdated
As the new techs in equipment are changing the world rapidly, the use of old ones may pile up the work and affect the performance of the equipment. Closely analyze the tech in your equipment. If it can run compatibly with the upgraded tech then you may install them in the equipment. Otherwise, the advanced tech may not be compatible with your old equipment and here is when you need to upgrade or replace your equipment.

The latest techs are actually smart enough that boost performance efficiency and are cost-effective as well. In this scenario, if you are using outdated tech and equipment, you must work very hard which may take time, resources and money. So, move with the industry trend and adopt all the latest techs from time to time. this will keep you aligned with the evolving industry.

When the sale is live
Sale on equipment is rare but at the end of every year, many dealers offer a big heavy machinery sale. Discounts on current models are frequently offered by dealers to make room for newer models. This is the right time to look and invest in your old equipment upgrade. All you need to do is keep track of all the auctions, exhibitions, and sales through online portals and show up when they are live. Also, make all the necessary notes about the equipment model, make, type and other specs. So that when the sale is live you do not waste time in figuring out what you need in your new equipment. Buying heavy equipment from sale might also be beneficial for you as sometimes the dealers offer the after-sale services along with the equipment and you may also get to see other valuable models as well. A well-timed purchase can maximize your investment by resulting in cost-effective acquisitions.

Conclusion
Investing in and upgrading the old equipment is a complex issue that requires careful consideration. Construction companies can increase their efficiency, productivity, and overall competitiveness by making smart decisions that take into account variables like engine hours, machine conditions, technology improvements, and financial considerations. Make thoughtful upgrades and see how your projects flourish in the fast-paced construction industry.