The 10 Best Financial Service Providers – 2022

FEBRUARY 2022

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ANUP THAKKAR Founder

LEDGER FINANCIALS AND ALPHA NUMERIC DATA MANAGEMENT

&

GO FORTH

CONQUER THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021 Rise of the INDIAN STOCK MARKET Need for FINANCIAL LITERACY Is INSURANCE Important?

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From the

EDITOR T

he financial services sector provides financial services to individuals and businesses. This part of the economy consists of various financial companies, including banks, investment houses, creditors, financial companies, real estate agents, and insurance companies. As mentioned above, the financial services sector is probably the most crucial sector of the economy, leading the world in terms of stock market revenue and capitalization. This sector is dominated by large conglomerates but also includes various small businesses.

According to the Department of Finance & Development of the International Monetary Fund (IMF), financial services are the processes by which consumers as companies obtain financial items. For example, a payment system provider provides a financial service when it receives funds and transfers between payers and payees. This includes accounts managed through credit and debit cards, checks, and electronic money transfers.

The economy is made up of many different sectors. These sectors are made up of

different companies that provide goods and services to consumers. Companies grouped in one area provide a similar product or service. For example, companies that provide agricultural services make up the agricultural sector. The companies that provide mobile or mobile services are part of the telecom sector.

Running a business requires a lot of bookkeeping. It is an essential part of running a business. Do this every day, even if you don’t know it. Accounting is included when you record a transaction, prepare tax documents, or book an account.

In any case, you get an accounting degree to run a business. But the problem lies in the quality. If you don’t think about records and bookkeeping, your records will be messed up and you will hardly be able to make a living.

services can encompass a variety of things.

In our edition, The 10 Best Financial Service Providers – 2021, on the cover page we have Anup Thakkar, Founder and Principal of Ledger Financials & Alpha Neumric Data Management. The Company provides financial services regarding bookkeeping, data entry, CFO services and many more. The firm has an individualistic approach while addressing clients because every client is different.

SwiftNLift is not just a business magazine.

We aim to cover all other topics that account for our society’s betterment.

We always try to come up with articles covering the latest trends and essential topics. We as a team had worked hard for our readers and introduced to you this edition. Hope you enjoy reading this piece of our efforts!

Accountants take a lot of work and do it with efficiency and expertise. It makes a big difference to your business. Of course, accounting is a broad field, and accounting

- Nilesh Sabe Nilesh Sabe Chief Editor

C O N T E N T COVER STORY LEDGER FINANCIALS AND ALPHA NUMERIC DATA MANAGEMENT

22

Articles

The rise of the Indian stock market

30 38

Need for financial literacy Is Insurance imortant?

Profiles 16 SRJ Chartered Professional Accountants

18 MSCI Inc.

20 Travelers

24 Rocket Compnaies

26 PNC Financial Services Group, Inc.

28 Mindspace Outsourcing Services Pvt Ltd

32 FinAcc Global

34 VISTARA

36 Euro Accounting Ltd

ANUP THAKKAR Founder

Andre Stolz CEO

COVER STORY THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

LEDGER FINANCIALS AND ALPHA NUMERIC DATA MANAGEMENT Providing the best-in-class Bookkeeping & Accountancy and much more financial assistance at an affordable rate

LEDGER FINANCIALS AND ALPHA NUMERIC DATA MANAGEMENT

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edger Financials is a U.S.-based bookkeeping and accounting services firm located in greater Los Angeles. Its then founded a second company in Mumbai, India, Alphanumeric Data Management, to outsource its services to Ledger’s clients.

ANUP THAKKAR Founder

How did you come up with the idea of forming Ledger Financials?

I have always enjoyed working with numbers. Prior to founding Ledger Financials, I served as a controller for a subsidiary company of Lionsgate Entertainment in Los Angeles. Prior to that, I was the Director of Business Development and Finance at MGM Studios, where I oversaw their Asian, Latin American, and Pacific business interests. In that capacity, I traveled quite a bit and gained a tremendous amount of experience in accounting, financial services, and business development. I very much enjoyed that role.

But just as I turned fifty, after working in corporate America for 25 years, I reached a point where I wanted more autonomy over my life and more time with my family. I didn’t want to just be a cog in the wheel of a large entity; I wanted to make a real difference in the lives of others to

bring more meaning to my life.

With my extensive background in all those areas, I knew that I could offer these same services to my own clients and I started thinking about opening my own bookkeeping, accounting, and tax preparation practice in 2014. As it was a big undertaking to leave a stable and secure lifestyle, looking back on my decision, it was the right time for me to make that move.

Back in the beginning days of Ledger Financials, I thought I could do it all by myself, but I quickly learned that it was not possible to serve each client’s needs without the help of other trained professionals. I remember one specific client who came to me for help when I first launched my business. He had a small business that was providing vitamin supplements online, and he needed my help because he had not done any bookkeeping for the past four years, and he had not filed his taxes. As you can imagine, this was a huge ordeal!

Until that time, I had been a good provider to my family, and I knew that making this change would require adjustments, so I ran my ideas by my wife to see what she thought. My wife has always been a good resource for me and we have a true partnership in our marriage that extends to my work. My wife immediately saw the value in the proposition I presented and encouraged me to put my ideas into action. She supported me 100% in this business venture because she believed in me and knew that I had the drive and the willingness to do ‘whatever it takes’ to carry out my vision. I’ll never forget those words she said to me at that time. She told me, “Go do what you need to do and While I was able to straighten all of that out don’t worry about the money. I will support you while you and get his business caught up and in good financial condition, it took most of my time to are building your business.” do so – at the expense of my working with other, less Later, in June 2014, I founded Ledger Financials as a sole time-consuming clients. It was then that I realized my proprietor business model. With the mission of providing lofty goal of helping each of my clients, personally, was high-level business expertise in accounting, bookkeeping, not practical. While I had the business expertise and and tax preparation services, while also helping could advise them in each of these areas, it wasn’t the entrepreneurial and mid-size companies create strong and best use of my time to do all the work by myself. financially - sound business plans.

I also knew that if I didn’t get support from a team As far as the name of my company, Ledger Financials, in of certified accountants and bookkeepers, I would the old days, “bookkeeping and accounting” were done in get burned out and my health would suffer. I also a ledger, and “financials” refers to my firm’s expertise in would not have the time available for my family that all of the components that go into creating and running a I so wanted at this point in my life. Obviously, this was successful business. Together, the name Ledger Financials not what I envisioned while formulating the plan for depicts the expertise my firm offers to my clients. After Ledger Financials. working in corporate finance for 25 years, including as the controller of the subsidiary of a public corporation, This was a good lesson for me. When you recognize there my goal was to provide efficient, low-cost accounting and is a need in your business that has to be met to move bookkeeping services for small to mid-size businesses in forward, you have no choice but to make whatever changes are necessary. By realizing that, I was able to expand and the U.S. grow my business exponentially.

Whom does the Ledger Financials serve?

Ledger Financials’ clients range from entrepreneurial and start-ups to mid-sized businesses in all industries across the board. In addition to working directly with our clients, a division of Ledger Financials offers support to CPAs in the area of bookkeeping and accounting services.

Tell us more about how you overcome challenges.

In 2014, while still in my first year of founding Ledger Financial, I knew that I needed to outsource my bookkeeping and accounting services. The challenge was, finding a way to do this without creating higher costs because my business model was to provide efficient and

economical bookkeeping and accounting services for to take on the work that my clients in America needed them to do and I began outsourcing this work to the small to mid-size businesses.

What I hoped to do at that time was to find a way to certified accountants working for me at Alphanumeric provide my clients with the same quality of service that Data Management.

With everything in place, I could now focus on business development for Ledger Financials. One last thing I did in that sense was I changed my business model from a sole proprietorship to an S Corp at Ledger Financials. So, you see, by recognizing the need, then putting the time into researching a solution – and putting a plan into action – I was able to focus on what I do best, and my business has In April 2014, I booked my trip to Mumbai, India, not been going strong ever since. knowing how long I would be there or even what was required of me as an American citizen looking What is the list of services you provide? to open a business in India. The process took four months as I needed to study the Which service is the most preferred by landscape of India’s employment market your clients? and then meet specific requirements It’s hard to say what service is the most popular or needed in operating this business as a U.S. because every service that we offer caters to a specific need. citizen. I hired a lawyer and a Ledger Financials provides four different types of services: charted accountant to guide me bookkeeping, accounting, data entry for insurance through this process. With their companies, and as of November 2021, U.S. tax preparation assistance, I filed my paperwork services. The tax preparation service is 100% dedicated to in India for this initiative. Later, certified public accountant firms. It is our latest business I leased office space and hired model as I recognized that just as I was unable to do all and trained bookkeepers, of the work myself at the start of Ledger Financials, I saw certified accountants, and CPAs similarly going through intense weeks and months other staff. And finally, I set of burning the midnight oil. up my legal entity, which I named Alphanumeric Data Preparing their clients for filing deadlines, meeting those Management or “Alpha.” By filing deadlines, and getting extensions for other clients August 2015, my second who are not yet ready to file their taxes is always a stressful company was ready process. I created this tax preparation division to take

larger companies in the U.S. receive, but without the exorbitant costs. The answer came to me like a lightning bolt – I needed to go back to India, where I’m originally from and see if I could outsource my accounting and bookkeeping work there. I felt good about this because by outsourcing my work to India, I would also be helping the economy there, and it would be a win-win situation.

some of the burdens off of CPAs by having highly-trained certified accountants and bookkeepers doing a lot of the work behind the scenes. We enter all of the required data for our CPA clients right into their clients’ tax forms. This is an exclusive service designed just for our CPA clientele.

I have personally hired and trained my staff in India to complete the work for all four of our services. All of our staff go through a 3rd party verification system, and they all are either master’s degrees or bachelor’s degree holders, depending on the work that they are assigned.

How will you describe your services in this changing and competitive world?

☐ Founder and Principal: Anup Thakkar ☐ Year of Founding: 2014 ☐ Founding Member: Anup Thakkar ☐ Office Locations: Los Angeles, USA and Mumbai, India ☐ Website:

https://ledgerfinancials.com Having several conversations with my CPA clients last year, I understood that there was an urgent need for tax preparers for the current tax season of 2022.

After listening to my clients, I decided to launch a new department to serve their tax preparation needs.

By creating this new service, Ledger Financials has Fortune 100 companies use and have approved. The been able to continue to evolve and grow with our cloud computing company that services both Ledger clients’ needs.

Financials and Alphanumeric Data Management is an approved vendor to QuickBooks, which as we all know, is the top bookkeeping software today. With that How do you see the virtual accounting and said, our clients feel confident that their information is bookkeeping services? How will it take shape completely secure. in the near future?

Ledger Financials has been in business working this way for seven years now. We have a good system in place that works for our business and also for our clients, and that has allowed my business to continue to grow, even during the pandemic. Our services are one of the best in the industry.

We have a two-step process where the bookkeeping does all the entries by downloading the bank and credit card statements, which are categorized by line item. Then we have a chartered accountant review and do a quality check for the profit and loss statement and balance sheet.

Our work output makes it easier for CPAs to file accurate taxes for their clients. We aim to provide a comprehensive financial report package at year-end to support the client in streamlining and simplifying the tax preparation process.

As far as concerns people may have about hackers or financial information being compromised, we take this very seriously.

We have firewalls set up to protect our clients’ information and the systems that we use are the same ones that

Any final thoughts?

I would say that I am grateful for the support of my family in doing all of the work that involves starting a new business.

It took some time and required asking for help from those with expertise to help me in new areas of my business, but overall, I am very happy that I decided to change my life and to do something that, at the time, seemed a little bit risky. It’s never easy to make a change in your life, especially when it affects other people whom you love and who are dependent on you. Having gone through the challenges of launching, not one but two new businesses, and doing it internationally, has been a worthwhile experience and one that continues to enlighten me and teach me new things about how to adapt to a changing business environment.

THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Shayan Rashid CPA

SRJ Chartered Professional Accountants Providing professional development and tax accounting services

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RJ Chartered Accountants is a CPA firm with They are always ready to help their clients with all offices in Toronto and Mississauga. They provide accounting, taxation, and bookkeeping needs! taxation, accounting, and advisory services to small businesses. They specialize in helping entrepreneurs, small business owners, and healthcare Why Choose SRJ as Your Toronto professionals. At SRJ they are committed to providing Accounting Firm? their clients with world-class service. They are known for their professional development and tax accounting ☐ Chartered Professional Accountants: They’re a group of dedicated Chartered Professional services. They provide services to numerous industries Accountants who can help put more of your hardand associations across the GTA. earned money back in your pocket.

SRJ Chartered Accountants offers several important accounting services in Toronto for businesses and ☐ One-Stop Firm: They can handle all your accounting needs including bookkeeping, corporate tax filings, individuals to help them work and plan more effectively.

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personal tax filings, HST, payroll, and more.

■

Bookkeeping

☐ Small Business Focus: They work exclusively with ■ Financial Statements small business owners. Their goal is to ensure your ■ Professional Corporation business and your finances are where they should be. ☐ Advisory

Services they provide: SRJ Chartered Professional Accountants have always made it a priority to deliver quality service to clients.

Their accountants work with you to tackle the stresses of managing your corporate and private financial profiles.

Experts in the industry, they offer an array of services in a wide variety of industries. They take the time to understand your needs and work with you to assist with your financial needs. ☐ Personal ■

Personal Tax Returns

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GST/HST Housing

■

Tax Credit

■

Bookkeeping

☐ Corporate ■

Corporate Tax Returns

■

Incorporation

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SR&ED

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■

Valuation

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Litigation

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Estate Planning

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Forecasting & Budgeting

Whether you need the back-office support that includes payroll services, monthly reporting, tax advisory, or simply just someone to prepare and file your taxes, SRJ can help. Using technology, they can streamline the accounting function of your business. Whether it’s paying vendors or keeping receipts, technology is their friend, and they can help automate many of the mundane things that you hate doing to allow you to spend more time on managing your business.

SRJ’s advisors are trustworthy, hard-working, honest, and reliable. They demonstrate their big accounting firm experience in the quality of their work but do so with a more friendly and personalized touch.

Website- https://www.srjca.com/

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Henry A. Fernandez Chairman & CEO

MSCI Inc. Critical decision tools and services provider for global investment community

M

SCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data, and technology, they power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. They create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process.

Enabling their clients to make a better-informed investment decision is central to what they do.

Their innovation engine aims to: ■ Enhance their client offering to reflect evolving markets and the complex needs of the investment community ■ Pioneer new research and models to better assess investment risk

■ Help clients better assess the global opportunity set, including emerging markets, and public and Their senior leadership team is comprised of highly private real estate experienced executives from diverse backgrounds ■ Measure and model environmental, social, and – including asset management, banking, brokerage, governance and factor risk and performance consulting, private equity, and technology. The team’s common purpose is to deliver real and sustainable ■ Add value for their clients by delivering deep coverage and analytics of global data value to their clients, their shareholders, and their firm.

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Their technology:

■ Explore the depth of climate data and scenario analysis from MSCI ESG Research.

☐ Data Explorer: Data Explorer is a gateway to ■ Drill down into climate risks and opportunities by MSCI’s data universe. Data Explorer empowers issuer, sector, or peer set. quant analysts and product managers to search and explore data faster and enables Chief Data ■ Identifying emissions leaders and laggards; exploring climate-related risks and opportunities Officers to make informed decisions. It allows by issuer, sector, or peer set to compare performance institutional investment organizations to use MSCI and progress. data to power portfolio construction and analysis, investment strategies, and decision-making. Built ■ Explore transition and physical risks by the issuer, map exposure to physical risks for both current on Microsoft Azure, Data Explorer is intuitive, and projected scenarios. fast, and easy to use, and offers a modern datasearch experience.

They are an international company with a highly ☐ Developer Community: Developer Community diverse global footprint. Their people are empowered is a searchable directory of MSCI’s APIs. It’s to maximize their potential in an environment where designed to power better investing by putting their all individuals are respected and encouraged to bring APIs into the hands of developers, data scientists, their authentic selves to work. This culture drives and quantitative managers quickly to help them to innovate and provide industry-leading speed their work, serve clients better, and go to solutions that power better investment decisions.

Increasing their diversity expands their talent pool market sooner. which helps accelerate innovation in all they do. ☐ Climate Lab: MSCI Climate Lab Company is They are dedicated to hiring and promoting used by investment managers seeking to construct qualified candidates who have been historically climate-aligned portfolios. underrepresented in their industry, including women, ethnic minorities, and those in the Investors use Climate Lab Company to: LGBT+ community.

■ Visualize the forecast trajectory of companies’ emissions in the coming decades.

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Website- https://www.msci.com/

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Alan Schnitzer CEO

Travelers Keeping you & your property secured with assured insurance

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ravelers are an insurance company that cares.

Travelers take on the risk and provide the coverage you need to protect the things that are important to you — your home, your car, your valuables, and your business — so you don’t have to worry. They have been around for more than 165 years and have earned a reputation as one of the best property casualty insurers in the industry because we take care of their customers. Their expertise and focus 20

on innovation have made them a leader in personal, business, and specialty insurance and the only property casualty company in the Dow Jones Industrial Average.

Every day, their approximately 30,000 employees and 13,500 independent agents and brokers in the United States, Canada, the United Kingdom, and Ireland help provide peace of mind to their customers.

Their diverse teams of technologists and analytics professionals are developing breakthrough solutions FEBRUARY 2022

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that provide exceptional experiences for customers, improve academic and career success, develop agents/brokers, and employees. No matter what thriving neighborhoods, and create culturally industry you are in, your company faces risks every enriched communities. day. That’s why Travelers offers a wide range of business insurance options, designed to identify and reduce those risks. Beyond managing claim costs, they help Website- https://www.travelers.com/ companies prepare for risk and recover faster after an unexpected event. Managing the total cost of risk creates a competitive advantage, helping you protect and grow your business.

Services they provide: Travelers provide customized protection for all customers based on exposures they may face every day. Their industry expertise, along with a deep understanding of business needs, helps ensure they deliver service plans designed specifically for their customers. ☐ Risk Control: they have one of the largest Risk Control departments in the industry, and their scale allows us to apply the right resource at the right time to meet customer needs. ☐ Claim: their knowledgeable Claim professionals will respond to your needs with speed, compassion, integrity, and professionalism. It’s their business to help keep you in business. ☐ Premium Audit: Your business operations may ebb, and flow based on market conditions. That fluctuation could affect the amount you pay in insurance premiums. ☐ Risk Management Information Services (RMIS): Travelers RMIS uses advanced technology to gather and analyze many elements that can have a significant impact on loss experience. ☐ Online Customer Tools: MyTravelers for Business offers convenient, online access for policyholders to pay a bill, view policy documents, report a claim, obtain certificates of insurance, and more. ☐ Pay Your Bill: Go paperless! Pay your business insurance bill, monitor your account, and sign up for automatic recurring payments—all online.

Strong communities are sustained by educational and economic opportunities, and they are dedicated to assisting their communities in generating those opportunities. With a focus on equity and inclusion, they target their giving and volunteerism to help FEBRUARY 2022

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The rise of the Indian stock market

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“The key to making money in stocks is not to get scared out of them.”

-Peter Lynch

he stock market, or some call it a share market, was never as popular in India as it has gained in the last two years. March 2020 was the month where it all began. An ideal sitting position is one of the frustrating positions where you have no work or task to perform. That happened with many, as the jobs were on hold or the remote working was in progress and many college students were having no lectures for weeks that triggered their interest in something useful.

What does Covid19 do?

India’s share market was at the downfall in the same period.

BSE Sensex saw one of the worst single-day crashes, losing 22

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1,448 points, that took place in February 2020.

Later it got worse on March 23, recording its biggest fall of 3,935 points, closing at 25,981.24 after the central government announced nationwide lockdown. NSE Nifty took a dip of 1,135.20 points, closing at 7,610.25. At that moment, no one was sure about how the situation was going to be in the next couple of months.

China’s bio-weapon Covid19 virus took Sensex on freefall which exceeded the daily limit; and an automatic mechanism got activated to curb the freefall. Index operations paused for 45 minutes as it plunged 10 percent.

number rose to 27.4 million till November 2021.

Contribution & investors

of

retail

traders

According to news and a study report by NSE reveals that retail investors are dominating India’s stock market since the first covid 19 wave.

There was a time when retail traders were called net sellers of stocks. Now they play a prominent role in the stock market. In the last two years, FIIs have reduced their investments; still, the market is booming. All the credit goes to domestic retail The panic situation was all around with no clear traders who turned into retail investors by holding idea of, what will be the next step to restart the major stocks for the long term. operations. The government and entrepreneurs Retail investors are making it difficult for were in a situation where they were preparing for professional investors as they have showcased their the new financial year. This unprecedented event skills & knowledge of investment by diversifying shattered the planning of many as the companies their portfolio. were closed for an undisclosed date. Still, the stock market was running.

Investment types

When does the recovery begin?

The stock market offers a variety of investment opportunities out of which investors, especially new investors, are turning heads towards equity investment and mutual funds in large quantities.

Nifty was slowly recovering from the downfall at the beginning of April 2020. In the first week of April, it was at the level of 8,700 and was ready to take rally for the long run, as the government was Mutual funds are among the top picks of new preparing a budget that could help the market to buyers as it poses less risk compared to equity trading. Even mutual funds have different index restart its operations. funds that offer investments according to your Nifty displayed an upward trend at the beginning of preferences, like tax savings or hybrid funds.

June 2020. It was happening due to the reopening of the market as per the covid guidelines issued by It is definitely growing at a rapid pace, and everyone is expecting to dive into this growth race the central government. to increase their income. However, being bullish is Sensex recovered 484 points on 23rd April 2020, not enough to make money in the market. Taking closing at 31, 863. Meanwhile, Nifty closed at advice from experts or having proper knowledge 9,313.90, up by 127 points on the same date. can only help you in the long run.

Fintech startups contribution

- Parag Ahire

Fintech startups that were dealing in services related to the stock market went high on demand.

Zerodha, Upstox, Groww, and SAMCO are some of the largest stockbroking startups that have registered millions of retail traders in just two years of span.

As per the data available in the market, 10.5 million new Demat accounts were opened in 2020 and the FEBRUARY 2022

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Jay Farner VC & CEO

Rocket Compnaies

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Enabling home ownership and financial freedom

ocket companies is a Detroit-based company obsessed with helping its clients achieve the dream of homeownership and financial freedom. Their flagship business, now known as Rocket Mortgage, was founded by Dan Gilbert in 1985. Since then, we’ve revolutionized the mortgage industry – twice – and taken our place as the industry leader.

Today, the Rocket brand is synonymous with providing simple, fast, and trusted digital solutions for complex transactions. When you need a mortgage, a real estate agent, a personal loan, or a car, Rocket gets you there fast.

break into new markets so they can bring their digital solutions to a broader audience. The top five companies in retail mortgages make up less than a fifth of the market. They have a huge opportunity to gain market share with their scalable digital platforms and superior client experience.

Their innovation:

At Rocket Companies, they like to say, “Innovation is rewarded. Execution is worshipped.” Nothing better illustrates this philosophy than Rocket Mortgage – They’re not a company that settles. They’re seeking to the world’s first completely online mortgage process – 24

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which they launched in 2015. They’re proud to say that today, 98% of all the home loans they originate use the Rocket Mortgage technology.

being prepared no matter where the market takes them.

Their digital-first brand is a driver for growth in the highly fragmented mortgage market. Even with the In 2017, they became the nation’s largest residential title of the largest mortgage lender, they see significant mortgage lender, surpassing close to 30,000 lending opportunities ahead. they’ll build on the blueprint that institutions. Today, they have approximately 20,000 got them to where they are, while finding new ways team members across North America. Without their to enable the dream of homeownership and financial team members, they wouldn’t have been able to freedom for as many clients as they can reach. accomplish all of their amazing milestones, like closing $145 billion in mortgage volume in 2019.

Where do they go from here?

Websitehttps://www.rocketcompanies.com/

They have a proven record of leading the industry and

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

PNC Financial Services Group, Inc.

William Demchak Chairman, President & CEO

Bank at your doorstep

A

experiences as well as manage routine banking needs. The solution center provides a collaborative environment that connects its customers with their digital solutions and services, beyond deposits and withdrawals. Currently, they have more than 25 solution centers in Arizona, Colorado, Kansas, Massachusetts, Tennessee, and Texas. They also offer digital unsecured installment and small business More than 12 million consumers and small businesses loans in the expansion markets. use their various deposit, lending, credit card, cash management, and investment services. You can find Products & Services: PNC branches, solution centers, and ATMs across the Mid-Atlantic, Midwest, Southeast, and Southwest. PNC offers a wide range of services for all its They also offer residential mortgage loans within customers, from individuals and small businesses to corporations and government entities. No matter their branch network and nationwide. how simple or complicated your needs, they’re sure They’ve expanded their Retail Bank nationally to have the products, knowledge, and resources through a digital-focused, thin branch strategy necessary for financial success. outside their existing branch network, leveraging “solution centers” that combine skilled banker ☐ Checking assistance and technology to create personalized t PNC, they work hard to provide the easiest way to bank and invest to help customers achieve financial well-being. They strive to provide a great customer experience through their branches, care centers, ATMs, online and mobile solutions. Customers have secure and convenient access to personal financial expertise, tools, and competitive products and services.

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☐ Credit Card ☐ Saving ☐ Mortgage ☐ Retirement ☐ Auto Loans

Corporate & Institutional Banking PNC competes to win in the middle market, where they are proud to be one of the leading credit providers to middle-market companies across the country.

PNC is in the top five syndicators of middle market loan transactions for each of the last five years.

But credit is only part of the story. Underpinning their success at building deep and lasting relationships with middle-market clients is their breadth of capabilities-including extensive treasury management, capital markets, and international banking services--many of which have been tailored specifically for the middle market audience.

PNC is an industry leader in many other target markets as well. Their client list includes more than

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two-thirds of the Fortune 500 as well as thousands of real estate, utilities, healthcare, government, higher education, and not-for-profit entities. All these clients, including many of the nation’s largest competitors in their respective specialties, benefit from PNC’s deep industry knowledge and their sophisticated capital raising, treasury management, and capital markets capabilities.

Whether your strategy involves growing your company with access to the right capital or transitioning ownership to your employees or enabling a strategic direction, PNC can help. Through Harris Williams, an investment bank with a legacy in the middle market specializing in M&A advisory services, Solebury, a premier Equity Capital Markets and Investor Relations Advisory firm, and PNC ESOP Solutions, we offer a family of capabilities and specialized advisors to provide sophisticated advice and hands-on transaction support.

Websitehttps://www.pnc.com/en/about-pnc.html

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Manish Jindal Director & Co-Founder

Mindspace Outsourcing Services Pvt Ltd

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Modernized accounting solutions curated to help streamline financial preparation & reporting

indSpace was founded in 2007 and offers bookkeeping outsourcing and accounting outsourcing services to individuals and SME’s who are based in the US, UK, Canada, Ireland, and Australia. They are Certified Quickbooks Pro Advisor 2009 -2014, Xero Certified, and Sage Level 1 Certified. They are a member of the American Institute of Public Bookkeepers.

in US, UK & Australian GAAP’s, promoted by a team of well-qualified and experienced Chartered Accountants. They offer a range of services from basic payroll and bookkeeping to full management accounts and reporting, from a discrete budgeting exercise to rolling forecasts and analysis to daily cash flow management.

They specialize in servicing CPA firms as well as Their well-chosen and qualified personnel are trained small, medium, and large businesses. They are a 28

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true sourced accounting department providing the highest level of accounting and bookkeeping expertise and access to the latest technologies.

They believe even routine accounting and bookkeeping functions deserve special treatment.

They seek to enhance the business performance of their clients.

■ Trusted Service: Your accounts will be handled by experienced bookkeepers and reviewed by QuickBooks and Xero certified professionals.

Mindspace is actively providing bookkeeping, payroll, and accounting services across all major countries of the world to a wide variety of clients.

We at Mindspace, consistently maintain the quality of our services and keep high-quality standards for each of the Work Order. Our experienced Why Mindspace? team of professionals helps our clients to reduce ■ Domain Expertise: They have a well-qualified operational costs while providing the best of and experienced team comprising of accountants. support and consultancy along with extending They are QB and Xero certified with +9 years the core services. of experience.

Their team is headed by Chartered Accountant ■ Data Security: Protecting your data is of and Management graduates. Their team of junior fundamental significance for them. Their accountants has been trained. Each member is well committed IT policies ensure the information on chosen. Their knowledge of the latest accounting and servers, PCs, and messages inside the workplaces auditing practices and techniques are updated with reliably work to best-rehearse structures. It has 3 regular in-house training programs and professional development programs that enable them to provide tier security levels. superior services, cost-effectively.

■ Quality: They deliver a level of unwavering quality, consistency, and expertise in bookkeeping and tax return processing. Their firm’s prime concern is to Websitemaintain high standards for our clients in the US. https://www.mindspaceoutsourcing.com/ ■ Hassle-Free: Their bookkeepers are well equipped to support all aspects of your needs. Get your books to stay on top with them and with no binding contract they can manage your account outsourcing needs hassle-free.

■ Affordable: They aim to reduce your present cost by 50% with a dedicated round-the-year outsourcing service.

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Need for financial literacy

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n a rapidly changing world, financial literacy is one of the most important skills that can determine the future of a country. At the macro level, the government has analysts to monitor and predict the country’s future economy while studying changes in regional relations. However, there is a growing need to include financial literacy at the micro-industry level.

financial management, spending, and investing.

Financial literacy forms the basis of personal and financial relationships. Most experts say that financial education is a way to access life and it is recommended to start as early as possible. Recently, financial investment and services have become the model for people in all industries. Financially savvy people are COVID-19 has further increased the need for less likely to be involved in financial fraud. financial education to support industry growth. The outbreak has left millions out of work in just months, Why financial literacy? with plummeting costs. Although the market is slowly recovering and retail investment has increased, Money poses the most prominent position in the threat of financial uncertainty could have a having a particular standard lifestyle. Very few can survive without having money in hand. lasting impact.

According to some research and data revealed, only 24% of the Indian youth is capable of managing What is financial literacy? their finances.

Financial literacy refers to the ability to manage a Rising digital literacy and the government’s approach wide range of financial literacy, including personal towards the digital economy turned everyone’s interest 30

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towards financial literacy. There have been record- amount of bank balance and property. It is linked to breaking digital transactions in India. The reason was your family’s survival and growth.

UPI which is one of its kind in the world.

Small organizations mostly fail to sustain in the It is not just about the risk of getting your money stolen. competition for a long time. The reason is a lack of Proper management of cash flow could lead to less financial knowledge and the ability to maintain the cash wastage of money that could help you save a lot and flow in the business. utilize it as per your need in the future.

Financial Frauds There’s always room for drawbacks when something good is in place. The ease-of-making payments through mobile phones made it easier for money-laundering groups and hackers to target financially less literate people. You might have received at least one call or an SMS in your life to date where they offer you a handsome amount of money; you just need to follow the link in the SMS or give your bank details to receive the prize amount.

Contribution to economy Very few can link their financial growth to a nation’s economic development. Saving a lot on expenses and increasing your savings amount does not help you for long. Utilizing the same for purchasing assets and smart investments will help you grow your money.

Small organizations play a crucial role in developing the economy. Republic states like India, which is the world’s fastest emerging economy, need organizations that are capable of making a worth billion in value from a small budget. We have such Unicorn startups that have These are too easy tricks as very few people understand showcased the power of innovative technology and a that such fraudsters have a complete setup for hacking profitable unique business model. your device and stealing your bank balance within a fraction of seconds. More such tricks are not known to the common public, due to which they become victims of such Final thoughts frauds or scams.

Being financially aware makes you ready for uncertain events that could possibly damage your family expenses budget. Having stable financial planning Growth keeps you ready for your future targets and makes it Ambitious people strive for growth, and financial easy to achieve. stability helps you achieve your materialistic goals. No - Parag Ahire one can survive and grow without having an ample

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Jigar Shah Co-Founder & Director

FinAcc Global

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Dedicated towards providng a secure FTP (SFTP) account

very company has Accounting & Financing functions that need to be handled vigilantly.

With the pace at which businesses today are rapidly evolving and organizations are growing, it becomes a burden to streamline these processes, maintain compliance and optimize the spending.

If you are confronted with such Accounting & Financial hiccups and see an opaque path to achieve your business goals, it is high time you consider outsourcing your Accounting & Finance business functions. With the genesis of advancements, outsourcing has earned a new dimension that helps to achieve high performance, enhance seamless 32

end-user experiences resulting in the overall growth of a company.

FinAcc Global is one of the leading global accounting companies providing Accounting & Finance Outsourcing services to accounting firms based in the USA, UK, Canada, and New Zealand. Different processes that are covered under the gamut of their services range from Bookkeeping Services, Management, Payroll & Recruitment Outsourcing Services. Their vast talent pool comprising of Expert CPAs, Cas, and Accountants focuses on the needs of their clients to provide a personalized service, thereby, helping them in the smooth and FEBRUARY 2022

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accurate financial operations of a business. With more than a decade of experience in the same field, they help you achieve your business and personal goals by offering standardized processes, greater transparency, affordable, quick, accurate, and timebound professional services. They hold superior skills in Outsourcing Services and Practices which reduces the administrative burden on your staff and let you focus on the strategic business activities and sales, while they work to implement and manage the operations and business workflows seamlessly.

They provide expert and professional services with that extra personal touch which makes their goodwill so strong. They pride themselves on their client relationships, which is why most of their new business is derived from client referrals.

Why FinAcc Global?

■ Round the Clock Service ■ Technology-Enabled System and Processes

■ Unsurpassed Customer Service ■ Professional Expertise ■ Extend Your Team with our Trained Staff ■ Flexible Engagement Model ■ Client-Centric Approach

Services: ■ Recruitment Outsourcing Service ■ Management Outsourcing Service ■ Payroll Outsourcing Service ■ Bookkeeping Service Their Vision is to establish themselves as a well-known and trusted partner for Accounting & Financial needs for enterprises across the globe. They want to become a leading platform for all Accounting & Financial solutions and play the vital role of a strategic partner in your business growth. And deliver superior quality services that exceed clients’ expectations.

■ 100% Data Security & Confidentiality ■ Scalable Solutions

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Website- https://finaccglobal.com/

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Alan Brown CEO

VISTARA Empowring entities around the globe to manage their core tasks by taking on basic operations

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t Vistra, they believe your business and your people can make a difference in the world. As a leading corporate service provider and fund administrator, they work with clients who are changing things for the better—whether they’re developing new technologyww, new ways of investing, or new ways of working. That’s why their work is focused on helping their clients act with confidence and speed to seize opportunity wherever it arises.

Their people and their technology have always set them apart. Together, they empower legal entities globally to work smarter, grow faster, act responsibly, protect capital, minimize risk, and scale across borders. As a result, they’ve built long-lasting relationships with many of the world’s leading investors, corporates, and high-net-worth individuals. They rely on us to take care of their commitments so they can take their next bold step. As of 2021, they have more than 5,000 professionals in over 45 jurisdictions, manage 200,000 legal entities, 34

and administer assets valued at over US$395 billion.

They continue to innovate and grow together with their clients, that’s why they represent 20% of the Fortune Global 500 and work with two-thirds of the Private Equity International 300 firms, including every one of the top ten.

What do they do?

■ Governance, Risk & Compliance ■ Advisory & Transaction Support ■ Finance, Accounting & Administration ■ Corporate ■ Private Equity ■ Real Estate ■ Capital Markets ■ Private Wealth FEBRUARY 2022

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At Vistra, they help make the world an easier and ■ For their industry, it’s a way to highlight the positive role they all play in making it easier to do business more accessible place to do business, thus facilitating economic growth to positively impact our society. across borders – and so grow economies.

They believe that they have a positive role in economic progress, supporting entrepreneurial opportunities ■ For the environment, it’s a way of reducing their carbon footprint, and making the changes they need and facilitating global trade. At a more local level, to become more sustainable.

Vistra gives back to their local charity organizations by partnering with them on impactful initiatives.

All this is underpinned by their efforts to develop ■ For their employees, it’s a way of giving back global best practices in compliance and corporate and engaging in their Community Investment governance so that businesses operate to the highest Programme. Around the world, their employee’s standard possible. volunteer time as well as raise funds for groups and They say genius is 1% inspiration and 99% perspiration. organizations in their local communities.

What if you could give that 1% your 100%? With their technology and services doing the hard work keeping ■ For their communities, it’s a way for Vistra to your business and legal entities in order, you get more tangibly support them across three identified time to work on your next big innovation. global themes: the welfare of children, education, Looking to grow your company overseas? Or deploy and the environment. your private equity capital in multiple jurisdictions?

■ For their clients, it’s a way to start their own Are you employing someone abroad before setting up philanthropic and charitable endeavors, while a legal entity? Whatever your global business needs, also taking their investments and their businesses they’ve got the experts and insights to guide you. across borders.

Website- https://www.vistra.com/

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THE 10 BEST FINANCIAL SERVICE PROVIDERS - 2021

Shabir Djakiodine Founder

Euro Accounting Ltd Complete financial operation services under one umbrella

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uro Accounting Ltd is an accountancy practice helping clients in the UK, France, Switzerland, HK, and Ireland. They offer company incorporation, virtual office, accountancy, taxation, VAT including EU VAT, payroll, company, business plans, audit, etc.

They help companies to start their business in the UK/ France/Ireland and Switzerland (they speak 8 languages including English, French, Spanish, etc). They specialize in international taxation and taxation of expatriates, and 36

they also do Due Diligence. At Euro Accounting Ltd, they have a strong commitment to training. They recruit trainees regularly.

Their expertise and experience are very useful to all types of businesses, ranging from self-employed individuals to multi-million-pound companies.

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outstanding services whilst they are competitive with their fees. They work closely with other chartered and certified accountants.

Service they Provide: ■ Company Incorporation ■ Specialist Tax Advice ■ General Accounting Services ■ External & Internal Audit ■ Bookkeeping ■ Serviced Offices

Why Choose them?

Accounting they work closely with you throughout your business projects.

■ Create and manage your company: They focus on understanding your individual business needs.

Whether you are a large owner-managed business, subsidiary of an international company, a small business poised to grow, or self-employed, they are here to assist you. They position themselves as your trusted business partner.

At Euro Accounting they support their clients during the creation of their company with global handling of all administrative formalities. They then carry out the bookkeeping, the presentation of the annual balance sheets, the management accounts, the consolidation, the registration for the payroll, the preparation of the payslips, and the social procedures.

■ Offer a full range of accountancy: In today’s complex financial and business world, everyone needs reliable, professional help managing their personal and business finances. Not only is it necessary to ensure that everything is accounted for in compliance with the various statutory requirements, but it is also important to make the most of every opportunity to maximize your income and minimize your expenditure.

Their assurance of client service underlies all the work that they do. They provide high-quality advice delivered in a clear and friendly manner to help improve your business.

Their clients rely on them to provide the professional help that they need. They trust them to keep them informed and expect them to be always proactive so that they can concentrate on their business.

■ They help grow your business: They add significant value to your business and personal wealth. At Euro

Websitehttps://www.euro-accounting.com/

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Is Insurance imortant?

What is Insurance?

or may not be financial, but it must be financially deductible and generally includes something Insurance is a protection against financial loss. It is where the insurer has insurable benefits from an a form of risk management mainly used to hedge existing asset, possession, or relationship. the risk of accidental or uncertain losses.

A legal entity that offers insurance is known as an insurance company, insurance carrier, or insurer.

The person or group of people who have taken out the insurance is called the policyholder and the person or group of people covered by the insurance is called the insured. Policyholder and insured are often used interchangeably but are not necessarily synonymous. The insurance can be extended to other uninsured persons.

The insurance transaction includes guaranteed, recognized, and related damage in the form of payment to the insurer in exchange for the insurance company’s obligation to indemnify the policyholder in the event of damage. The loss may 38

What are the benefits of Insurance?

Insurance is an important financial tool. It will help you live a life with fewer worries, knowing that after a disaster or accident, you will receive financial assistance to help you recover quickly.

When it comes to life insurance, it can mean that your family does not have to move home or that your children can go to college. With car insurance, this can mean that you have extra money on hand to help you pay for repairs or a replacement car after an accident. Insurance can help you sustain your life as much as possible after something bad can derail it.

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Your independent insurance agent is a great resource for finding out more about claims, such as the benefits of your particular insurance policies. In addition to insurance coverage, you can, for example, have access to benefits such as a free assistance service, business risk management advice, or the monetary value of life insurance.

And in some cases, such as car insurance and employee compensation, you may be required by law to have insurance to protect others.

Need for Insurance ☐ Insurance plans can help you pay for medical emergencies, reduce hospitalizations, illnesses & treatments, and require medical care in the future.

This will help them cover the cost of running the house by paying out the insurance. Insurance money will provide your family with the necessary search space to cover all expenses in the event of death/accident/medical emergency of the policyholder. ☐ Insurance plans can help protect your child’s future concerning their education. It will ensure that your children have financial security in fulfilling their dreams and ambitions without compromise, even if you do not. ☐ Many insurance plans have savings and investment methods along with regular coverage. It helps in building wealth/savings for the future through regular investing. You pay premiums regularly and part goes to life insurance, while the other part goes to a savings plan or investment plan, which you also choose based on your future goals and needs.

☐ The financial loss of a family due to the unfortunate death of a single-income earner can be covered by insurance plans. The family can also repay all debts, such as home loans or ☐ Insurance can help protect your home in the event of an unexpected disaster or damage. Your other debts that the person who insures their home insurance plan can help you get damage life may have. to your home and pay for repairs or remodeling if necessary. If you have coverage on valuables ☐ Insurance plans can help your family maintain a and household items, you can buy replacement standard of living if you are absent in the future. items for insurance money.

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Building a Better Way

Managing risk is hard. Finding solutions to help doesn’t have to be. Exiger was launched to create a more sustainable path forward. https://www.exiger.com/