Author: Complete Controller

What is Debt?

Debt is the borrowing of money from one party to another. The money is borrowed under the condition that it must be returned to the lender later mutually decided by the parties. Individuals and corporations often take debt to fund different projects and meet needs one cannot afford otherwise.

For example, if an individual wants to buy a new machine for his project and does not have the resources to do so, he can borrow the money from someone. This money borrowed by the individual is a debt that he must pay later. Debt is often spent with interest to make the exchange profitable for both parties.

This article talks about good and bad debt and sheds light on their significance.

What is a Good Debt?

How can a debt be good if one takes money from someone and returns it with interest? A debt is qualified as good if it helps the borrower increase his future value or net worth. It is an investment that will generate long-term income and grow in value in the future. Let’s consider someone who needs to pay tuition fees but does not have the money. He had two choices: study at another college or take loans from someone.

Instead of giving up on quality education that will help build a successful career in the future, isn’t it better to take loans from someone? The student loan taken today will help him pursue his career choice, increase his value in the professional world, and increase his chances of a higher potential income.

A good debt for one may not always be good for another. The classification of debt depends on the importance of the item purchased in the borrower’s life.

For example, an auto loan is a good debt if someone’s work requires a car. But, if someone cannot afford a vehicle and needs it to roam around with friends, the debt is not good. It is vital to use the money productively for it to be a good debt!

Debts that have low interest rates are also good. Student loans, home equity loans, and auto loans have low interest rates; therefore, they are good debts. Also, good debts help one better manage his finances, leverage wealth, and purchase things to handle unforeseen events.

What is a Bad Debt?

Bad debt is a loss incurred by the lender due to the inability of the borrower to pay back the money, or the borrower is bankrupt or has financial constraints that hinder the payment. Bad debt is an expense for the lender and most businesses, especially those that sell credit. The company realizes the possibility of not receiving the money and forecasts a lousy debt based on past experiences and records.

Bad debts defer from doubtful debts. Debt becomes a bad debt when it cannot be collected. On the contrary, a doubtful debt may or may not be collected.

For example, if the payment is associated with the sure profitability of the borrower, then chances are that the debt may become a bad debt or not. In this situation, the debt is doubtful. When the lender knows it will not be collected, the journal entry will debit Bad Debt Expense and Credit Accounts Receivable.

A lender must ensure the borrower is willing to return the loan before giving the money. The company does not have a lot of bad debt, as it becomes an expense and reduces profitability.

Conclusion 

In summary, debt, borrowing money with the commitment to repay, plays a pivotal role in both individual and business financial landscapes. The distinction between good and bad debt hinges on its impact on the borrower’s financial future, with good debt serving as an investment that enhances long-term income and growth potential, such as education loans.

In contrast, lousy debt represents a loss for lenders due to a borrower’s inability to repay. Lenders must assess creditworthiness to minimize the risk of bad debt. Prudent debt management involves making informed decisions, utilizing funds productively, and understanding associated risks, enabling individuals and businesses to navigate borrowing with financial acumen.

Now that you know what good and bad debt are, keep it in mind before taking a loan!

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Numerous innovations emerge in a world that is evolving at an unprecedented pace, making it challenging to keep up with the latest trends. Crowdlending, a financial concept gaining widespread recognition, is no exception to this rapid progression.

Despite its rising popularity attributed to high returns, some remain hesitant to explore crowdlending, primarily due to a lack of understanding. The term “crowdlending” might sound complex, contributing to the apprehension among potential investors. However, the essence of crowdlending is surprisingly straightforward.

In essence, crowdlending falls under the umbrella of crowdfunding investments, also recognized as Peer-to-peer or Marketplace lending. It involves a collaborative effort where investors collectively finance projects by lending money to borrowers in exchange for interest. Crowdlending offers a simple yet powerful way for individuals to participate in co-financing ventures, contributing to the broader landscape of innovative financial solutions and breaking down the barriers to comprehension.

What is Crowdlending?

Crowdlending represents a dynamic approach to financing, enabling the pooling of resources from numerous investors to support companies or individuals. Unlike the conventional route of seeking bank loans, which may not be feasible for everyone, crowdlending emerges as a viable alternative. This model is particularly beneficial for those who may face challenges obtaining traditional loans.

The participatory financing model allows many investors to contribute smaller amounts in crowdlending, resulting in a substantial cumulative investment. Often synonymous with peer-to-peer loans (p2p loans), this form of crowdlending involves individuals directly lending to one another. While closely associated, it’s essential to distinguish crowdlending from crowdfunding, as the former focuses on financing companies or SMEs, emphasizing the search for investors.

Crowdlending, an offshoot of crowdfunding, boasts diverse variants. In this dynamic landscape, investors enjoy the flexibility of choosing where to allocate their funds, granting them the autonomy to select recipients based on their preferences and risk assessments. The multifaceted nature of crowdlending underscores its adaptability, offering a tailored approach to investment opportunities.

Investing in Crowdlending

The primary motive behind diversifying my investments is to reduce reliance solely on the stock market. Currently, I’m allocating a modest percentage of my portfolio—less than 5%—towards this new investment avenue as I continue to gain experience in this domain.

Exploring and understanding this financial landscape serves as a valuable investment in itself. My strategy involves:

• Building a diversified loan portfolio.
• Prioritizing minimal risk.
• Targeting a realistic return between 7% and 10%.

This objective aligns with the potential returns of various platforms I’ve researched.

An additional advantage lies in the accessibility of these platforms, as the minimum investment requirements are remarkably low. With just $10, I can participate in various projects and loans, offering a flexible and cost-effective entry into this investment opportunity.

Risks of Investing Money in Crowdlending

Crowdlending involves risks such as default, lack of regulation, market volatility, platform failure, diversification challenges, interest rate fluctuations, illiquidity, information asymmetry, legal changes, and cybersecurity threats. These risks can impact returns and the overall safety of investments, highlighting the importance of thorough due diligence for potential investors.

I want to be transparent—I see this investment as riskier than Index Capital. However, let’s dissect the risks methodically. To mitigate this, I plan to diversify across two platforms. On Mintos, I’ll focus on loans with a buy-back guarantee, while on Circulantis, I’ll steer clear of low-rated companies. By investing modest amounts in each loan, the impact of any potential failure remains minimal. This investment won’t surpass 5% of my portfolio, at least for now. My chosen path is embracing a long-term approach akin to my stock market strategy.

Conclusion

In conclusion, delving into crowdlending or peer-to-peer lending unveils the associated risks and a host of compelling benefits. As you navigate this financial landscape, it becomes evident that the advantages outweigh the potential drawbacks.

Crowdlending offers the advantage of lower interest rates, enhancing affordability for borrowers. Transparency is a key feature, providing participants with a clear view of the lending process and the destination of their investments. Additionally, the assurance of no hidden fees contributes to a more straightforward and trustworthy financial experience.

In this dynamic financial environment, making informed and prudent decisions is paramount. As you embark on your crowdlending journey, take the necessary steps to maximize the benefits and mitigate the risks. With careful consideration and strategic planning, crowdlending can be an innovative and rewarding investment avenue.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In a business organization, downsizing decreases the total number of employers on the financial payroll. When the administration of a company decides that their business is not working at the maximum effectiveness, they generally search for approaches to make the business more profitable. Most often, this is when organizational downsizing takes place. It is a decline in the company’s size and working expenses executed by their administration, keeping in mind the goal of enhancing the business’s competence, proficiency, and competitiveness.

Organizations usually utilize a few methods to administer downsizing. It includes offering incentives to ask for early retirement and relocation to subordinate organizations. However, the most frequent strategy is to fire a specific number of individuals. 

Organizational Downsizing

Organizational downsizing influences the work procedures of a business since the final product of downsizing is usually fewer individuals working a similar workload to the one that was present before the downsizing occurred. The undertaking of downsizing brings about two groups of individuals: casualties, the individuals who automatically lose their employment because of organizational downsizing, and survivors, the workers who stay after the corporate downsizing happens. 

Impact on Work Processes

Entrepreneurs may have their reasons behind why they are looking to downsize their business. Although the primary reason is the absence of funds to keep the business running, it ensures the company does not become an enormous debt. A few entrepreneurs employ managers, yet other owners want to work alone so that downsizing might be the best possible alternative for them. Despite the exact reason, downsizing has advantages and disadvantages for entrepreneurs and employees. 

Entrepreneurial Perspectives

Even though it doesn’t seem that way, downsizing is very tough. It considers most of the assets and resources of a management team, including business intelligence and humanity. Nobody anticipates downsizing. Maybe this is the reason why so many top-notch executives downsize so inadequately. They overlook every sign indicating a layoff until it is past the point of adequate planning. At that point, quick action must lessen the additional staff’s pressure on the finances.  

Challenges and Tough Decisions

It is a tough decision when dismissing employees. What will be the period given for notification, the amount of severance paid, and what steps will the organization implement to help the employees find another employment; these details are not given as much consideration as they deserve. Basic choices have to do with the eventual future of the business, as they do with many downsized employees. 

Effective Communication and Support

The company’s administration must be honest to ensure the organizational downsizing is efficient. It should communicate freely with its workers regarding the purpose of the downsizing itself and the downsizing plan. Also, to ensure the survivors’ confidence and self-esteem are high, the managers and administrative staff should listen to the workers and offer assurance and support. 

Preparation for Efficient Downsizing

For effective downsizing, the administration must figure out how to set up the workforce ahead of the downsizing. Appropriate preparation incorporates outplacement schemes, which are the procedure of helping previous employees find new jobs and preparing the rest of the employees for their new positions. If an organization deals with the casualty of downsizing kindly and justly, the downsizing survivors will probably stay faithful to their company. 

Managing Public Perception

The public might see the downsizing of a company in a negative light if the entrepreneur is not open about the downsizing. A company terminating its employees and reducing the number of customers and products might resemble a flaw in the company. Likewise, the company may lose some reliability for the probably misguided judgment that the business fails. If the business owner is open about the reasons for downsizing, it might shield the company from the negative impacts of public opinion. 

Conclusion

In conclusion, organizational downsizing, undertaken by companies seeking enhanced efficiency and competitiveness, involves reducing workforce and operating expenses as a strategic response to business inefficiencies. This challenging process, impacting work processes with casualties and survivors, brings advantages and disadvantages for entrepreneurs and employees. Entrepreneurs may opt for downsizing due to financial constraints or a preference for independent operation, necessitating tough decisions such as notification periods and severance packages.

Effective communication and support during downsizing are crucial for maintaining confidence, while proactive preparation with outplacement schemes and workforce training ensures efficiency. A compassionate approach to downsizing fosters employee loyalty and transparent communication about the reasons for downsizing, helps manage public perception, shields the company from unwarranted judgments, and contributes to a more resilient organization in the long run.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In the ever-evolving landscape of personal finance, credit cards are pivotal in shaping individuals’ financial choices. While these plastic companions offer convenience, their associated fees and interests often become a concern. This article delves into the realm of different credit cards, a growing trend that challenges the conventional notion of hefty charges for card issuance and maintenance.

Join us in exploring the multifaceted world of credit cards, where choices abound, and financial empowerment is vital.

Here is a list of all the different characteristics of cards. They include the following.

Free Credit Cards

When a credit card is delivered, a series of commissions or interests are usually charged that focus on issuing, renewing, and maintaining that product. The price typically ranges from $200 to $500, depending on the financial institution with which you get it. Although to be more competitive and attract more customers, more and more entities offer them for free.

It means that no commission or commission is charged to obtain it, renew it in the second year, or maintain it. In any case, we advise you to read the small print of each company before finally requesting it.

Online Credit Cards

They are characterized by being able to make their contract through the Internet without having to go physically to a bank. They provide significant advantages since they are swift if you have little time.

You only need to have the papers they request: payroll, a bank account, stable employment, and send them to you through the internet. It will ensure that all data is reliable and can send the card to your home.

Credit Cards with Your Bank

This type of product can be requested with an online banking entity, a physical company, or the bank with which we have always worked. It is your decision.

If you are happy with how your bank has treated you, you can negotiate with them to open an account for that credit card. In most cases, they provide advantages by being a regular customer, having the account domiciled with them, and having a recurring income.

Credit Cards for Students

Experts design such credit cards, particularly for college students. They ensure that young people often have small credit, and sometimes they don’t have a credit history. They can easily apply for a credit card as they don’t have to wait longer for approval for a student credit card than another type.

Also, such young adults get leverage from additional perks like low-interest rates or rewards on balance transfers. But you will not consider such bonuses for students who are finding credit cards for the first time. Generally, only students eligible for a credit card’s approval are enrolled in a four-year university program.

Charge Cards

You do not include the present spending restriction and balances in charged cards. You must pay the total amount together at the end of the month. Such cards do not have a finance credit or fewer payment cards, as creditors must pay the total amount. If you don’t pay the amount on time, you will pay the fee as card cancellation, with charge limits that depend on your card agreement. You must have a good credit history to qualify for a charge card.

Types of Credit Cards According to the Issuer

There are different types of services aimed at managing and disseminating this type of product. Therefore, you will find different types of cards, choosing the one that best suits your circumstances, depending on the advantages offered. These are:

• American Express credit cards: They stand out for boosting the value ​​of their payment service, offering a program of points, and having high-quality procedures.
• Visa credit cards are characterized, above all, by offering high security and efficient customer service. It is one of the most requested.
• MasterCard credit cards: They are another of the most widely used. Also, it offers advantages in shows, events, museums, etc.

Types of Credit Cards According to the Payment

Credit cards are so attractive because they allow you to make payments for products or services without having the total amount of money at that time. Therefore, you establish a contract with the issuer on how you will return such an amount. In this way, we can distinguish two products:

• Single payment cards. Those arriving at a specific date pay the total amount you have spent. For example, if you spend $600, you must pay 100% when the time is up.
• Deferred payment cards. The refund is made monthly, establishing an amount month by month. In this way, the debt is adjusted to the client’s needs. Yes, both have commissions.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Private Banking vs Wealth Management: Which Is Right for You?

Private banking vs wealth management represent two distinct approaches to managing significant wealth, with private banking focusing on exclusive banking services and personalized lending solutions for ultra-high-net-worth individuals, while wealth management provides comprehensive financial planning and investment strategies for a broader range of affluent clients. The fundamental difference lies in scope: private banking excels at sophisticated banking transactions and credit facilities, whereas wealth management delivers holistic financial advisory encompassing investments, tax optimization, and estate planning.

I’ve spent over two decades as CEO of Complete Controller working alongside businesses and high-net-worth individuals across every industry imaginable. During this time, I’ve witnessed countless entrepreneurs and executives struggle with the same critical decision: should they pursue private banking’s exclusive services or wealth management’s strategic approach? The answer always depends on their unique financial priorities and life stage. This article breaks down the real differences between private banking and wealth management, explores when each service truly shines, and provides the framework you need to make the right choice. You’ll gain insights into service comparisons, fee structures, minimum requirements, and real-world case studies that illustrate how successful individuals leverage these services to protect and grow their wealth.

What is private banking vs wealth management?

• Private banking provides exclusive banking services and personalized lending, while wealth management offers comprehensive financial planning and investment advisory
• Private banking focuses on sophisticated banking transactions, credit facilities, and cash management for ultra-wealthy clients
• Wealth management encompasses investment strategies, tax planning, estate planning, and philanthropic guidance
• Private banking typically requires $1-10 million in assets, wealth management may accept clients from $250,000
• The choice depends on whether you need specialized banking services or holistic financial planning

Understanding Private Banking Services

Private banking delivers white-glove financial services exclusively designed for ultra-high-net-worth individuals and families. These services go far beyond standard retail banking, offering customized solutions that traditional banks simply cannot match.

At its core, private banking provides dedicated relationship managers who understand every aspect of your financial life. These professionals coordinate specialized lending products, including securities-backed lines of credit, art and yacht financing, and jumbo mortgages with preferential terms. Private banks also excel at complex international transactions, multi-currency accounts, and providing access to exclusive investment opportunities typically reserved for institutional investors.

The hallmark of understanding private banking services lies in their bespoke nature. Your private banker becomes your financial concierge, handling everything from urgent wire transfers to coordinating with your other advisors. Many private banks offer additional lifestyle perks such as:

• Priority access to IPOs and private placements
• Exclusive networking events with other high-net-worth clients
• Concierge services for travel, entertainment, and luxury purchases
• Preferential foreign exchange rates
• Enhanced privacy and security protocols

Global private banking assets under management grew 21.3% in Asia to $1.8 trillion in 2023, driven by post-pandemic recovery and major consolidations in the industry. This growth reflects increasing demand from entrepreneurs and business owners seeking sophisticated banking solutions beyond traditional offerings.

Defining Wealth Management Services

Wealth management services take a completely different approach by focusing on your entire financial picture rather than just banking needs. This comprehensive advisory model integrates multiple disciplines to create coordinated strategies for building, protecting, and transferring wealth across generations.

Professional wealth managers act as the quarterback of your financial team, bringing together expertise in investment management, tax planning, estate planning, risk management, and philanthropic giving. They develop customized financial plans that align with your values, goals, and time horizons while adapting to changing market conditions and life circumstances.

Modern wealth management has evolved significantly beyond simple portfolio management. Today’s leading firms offer:

• Dynamic asset allocation strategies responsive to market conditions
• Tax-loss harvesting and strategic asset location
• Comprehensive estate planning including trust structures
• Business succession planning for entrepreneurs
• Philanthropic planning and family foundation management
• Risk management including insurance optimization

A striking 71% of wealth managers now offer ESG-focused portfolios, reflecting growing client demand for sustainable investing options that align financial returns with personal values. This shift demonstrates how wealth management adapts to evolving client priorities beyond pure financial metrics.

Key components of modern wealth management

The sophistication of contemporary wealth management extends into specialized areas that address complex financial situations. Multi-generational planning has become increasingly important as families seek to preserve wealth across multiple generations while instilling financial responsibility in heirs.

Wealth managers utilize advanced planning techniques including:

• Grantor retained annuity trusts (GRATs) for estate tax minimization
• Charitable remainder trusts for philanthropic goals
• Dynasty trusts for multi-generational wealth preservation
• Qualified personal residence trusts (QPRTs) for real estate planning
• Strategic use of family limited partnerships

Service Comparison: Private Banking vs Wealth Management

Understanding the practical differences between these services helps clarify which approach aligns with your needs. The following comparison highlights key distinctions:

Service Element	Private Banking	Wealth Management
Primary Focus	Exclusive banking services, lending, liquidity management	Comprehensive financial planning and investment advisory
Minimum Assets	Typically $5-10 million in investable assets	Often starts at $250,000-$1 million
Fee Structure	Average 0.8% of AuM for $2M+ clients	Typically 1-2% of AuM for portfolios under $5M
Service Depth	Deep expertise in banking and credit	Holistic approach to all financial aspects
Client Relationship	Single dedicated banker	Team of specialized advisors
Investment Access	Exclusive opportunities, private placements	Diversified portfolios, alternative investments
Planning Scope	Limited to banking-related planning	Comprehensive life and legacy planning

The financial advisory comparison reveals that private banking excels when you need sophisticated banking solutions, while wealth management provides superior long-term planning and investment guidance. Many successful individuals actually utilize both services, leveraging private banking for immediate financial needs while relying on wealth management for strategic planning.

Real-world service differentiators

Private banking relationships often include tangible benefits that enhance daily financial operations:

• Same-day large wire transfers without standard limits
• Access to private bank investment funds with institutional pricing
• Streamlined mortgage approvals with portfolio-based underwriting
• Securities-backed lending at prime rate or below
• Direct access to senior bank executives for problem resolution

Wealth management relationships focus on measurable outcomes:

• Systematic rebalancing to maintain target allocations
• Coordinated tax planning reducing overall tax burden
• Integrated estate plans minimizing transfer taxes
• Business transition strategies maximizing sale proceeds
• Family governance structures promoting unity and communication

When Private Banking Benefits Outweigh Wealth Management

Private banking becomes the superior choice when your financial life revolves around complex banking needs and maintaining significant liquidity. Entrepreneurs actively running businesses often find private banking indispensable for managing cash flow, securing acquisition financing, and accessing working capital without liquidating investments.

Real estate developers and investors particularly benefit from private banking relationships. The ability to secure rapid financing for time-sensitive deals, access portfolio-based lending for property acquisitions, and maintain multiple currency accounts for international transactions provides competitive advantages in fast-moving markets.

Private banking also excels for individuals with concentrated stock positions who need sophisticated lending strategies. Securities-backed lines of credit allow you to access liquidity without triggering taxable events, while specialized lending against restricted stock or private company shares provides flexibility unavailable through traditional channels.

Consider this real-world example: A technology executive with $15 million in company stock used private banking to secure a $5 million line of credit for a real estate investment, avoiding capital gains taxes while maintaining upside potential in their equity position. The private bank structured the loan with favorable terms based on the total relationship, something impossible through conventional lending.

Specialized situations favoring private banking

Certain financial scenarios particularly benefit from private banking expertise:

• International families needing multi-currency solutions and global access
• Art collectors requiring specialized lending against collections
• Athletes and entertainers with irregular income streams
• Venture capitalists needing bridge financing between fund closes
• Family offices managing complex entity structures

When Wealth Management Provides Superior Value

Wealth management delivers optimal value when your primary goal involves growing and protecting wealth over extended time horizons rather than managing immediate banking needs. Individuals approaching retirement, selling businesses, or inheriting significant wealth particularly benefit from comprehensive wealth management services.

The integrated approach of wealth management shines when addressing complex financial situations requiring coordination across multiple disciplines. A recent UBS case study documented how coordinated wealth management helped a business owner minimize taxes on a $100 million business sale through strategic use of trusts, charitable planning, and installment sales, saving over $15 million in taxes while achieving family and philanthropic goals.

Wealth management proves invaluable for families concerned about intergenerational wealth transfer. Professional wealth managers help structure inheritance plans that protect assets from creditors, minimize estate taxes, and incentivize responsible behavior in heirs through carefully designed trust provisions.

Investment management strategies employed by wealth managers go beyond simple diversification. They incorporate:

• Strategic asset allocation based on quantitative analysis
• Alternative investments including private equity and hedge funds
• Direct indexing for tax-loss harvesting
• Environmental, social, and governance (ESG) integration
• Tactical tilts based on market conditions

Long-term value creation through wealth management

The compounding benefits of professional wealth management become evident over time. Systematic rebalancing, tax-efficient portfolio management, and strategic planning often add 1-3% annually to investment returns after fees. Over decades, this enhanced performance dramatically impacts wealth accumulation and preservation.

Wealth management relationships also provide invaluable behavioral coaching during market volatility. Studies show investors working with wealth managers are 50% less likely to make emotionally driven investment mistakes during market downturns, preserving capital and maintaining long-term strategy adherence.

Making the Right Choice for Your Financial Future

Choosing between private banking and wealth management requires honest assessment of your current needs and future objectives. Start by evaluating your primary financial pain points and goals over the next five years.

Consider private banking if you:

• Regularly need sophisticated lending solutions
• Maintain significant cash positions requiring active management
• Value exclusive access and personalized service
• Operate international businesses or investments
• Prioritize banking convenience and exclusive opportunities

Choose wealth management if you:

• Seek comprehensive financial planning and investment advisory
• Want coordinated tax and estate planning strategies
• Need help with business succession or liquidity events
• Value long-term wealth preservation and growth
• Desire philanthropic planning and family governance

Many high-net-worth individuals discover that combining both services provides optimal results. Use private banking for sophisticated banking needs while engaging wealth management for strategic planning and investment management. This dual approach leverages the strengths of each service model.

Action steps for implementation

Begin your evaluation process with these concrete steps:

1. Document your financial priorities – List immediate banking needs versus long-term planning goals
2. Assess current service gaps – Identify where your existing relationships fall short
3. Calculate the total relationship value – Consider fees against tangible and intangible benefits
4. Interview potential providers – Meet with at least three private banks or wealth management firms
5. Request detailed proposals – Compare service offerings, team expertise, and fee structures
6. Start with a trial relationship – Many firms offer introductory periods to test compatibility

Global AuM dropped 10% to $115.1 trillion in 2022 due to market volatility but rebounded strongly to $128 trillion in 2024, demonstrating the resilience of professional wealth management during challenging periods. This recovery underscores the value of professional guidance during uncertain times.

Advanced Considerations for Sophisticated Clients

The evolution of financial services has created hybrid models that blur traditional boundaries between private banking and wealth management. Some institutions now offer integrated platforms combining the best elements of both services under unified relationships.

Family offices represent the ultimate convergence of private banking and wealth management, providing completely customized solutions for ultra-wealthy families. These structures combine:

• Dedicated banking services and treasury management
• Institutional-quality investment management
• Comprehensive tax and estate planning
• Lifestyle and concierge services
• Multi-generational education and governance

Understanding fee structures becomes crucial when evaluating options. Private banking fees averaging 0.8% of AuM for clients with $2M+ assets seem reasonable until you factor in the opportunity cost of maintaining large cash balances. Wealth management fees of 1-2% appear higher but often include comprehensive planning services that would cost significantly more if purchased separately.

Technology’s impact on service delivery

Digital transformation has revolutionized both private banking and wealth management delivery models. Leading institutions now offer:

• Real-time portfolio monitoring and reporting
• Secure document sharing and e-signature capabilities
• Video conferencing with advisors globally
• AI-driven investment insights and recommendations
• Integrated financial planning software
• Mobile apps for account management and transactions

These technological advances democratize access to sophisticated strategies previously available only to the ultra-wealthy while maintaining the personalized service that defines both private banking and wealth management.

Conclusion

The choice between private banking and wealth management ultimately depends on your unique financial situation, immediate needs, and long-term objectives. Private banking excels at providing exclusive banking services, sophisticated lending solutions, and privileged access for ultra-high-net-worth individuals who value personalized service and immediate financial flexibility. Wealth management delivers superior value through comprehensive financial planning, strategic investment management, and coordinated advisory services designed to grow and protect wealth across generations.

I’ve seen firsthand how the right financial partnership can transform a client’s financial trajectory. Whether you need the immediate sophistication of private banking or the strategic depth of wealth management, the key lies in aligning services with your priorities. Many successful individuals leverage both approaches, using private banking for complex transactions while relying on wealth management for long-term planning.

Don’t let indecision prevent you from accessing the financial expertise you deserve. Take action today by evaluating your current financial relationships against your goals. The team at Complete Controller stands ready to help you navigate these important decisions and connect you with the right financial partners. Visit Complete Controller to discover how our expertise in financial services can guide you toward the optimal solution for your wealth management needs.

FAQ

What is the minimum net worth required for private banking?

Private banking minimum requirements vary significantly by institution, ranging from $1 million at some banks to $10 million or more at exclusive firms. Major banks like JP Morgan Private Bank typically require $10 million in investable assets, while Chase Private Client starts at just $150,000. The level of service and exclusivity generally increases with higher asset thresholds.

How do wealth management fees compare to robo-advisor costs?

Wealth management fees typically range from 1-2% of assets under management annually, while robo-advisors charge 0.25-0.50%. However, wealth management fees include comprehensive financial planning, tax optimization, estate planning, and personalized advice that robo-advisors cannot provide. The additional value often justifies higher fees for complex financial situations.

Can I use both private banking and wealth management services simultaneously?

Yes, many high-net-worth individuals successfully use both services from different providers or within the same institution. Private banking handles immediate banking needs, lending, and liquidity management, while wealth management focuses on long-term planning and investments. This dual approach maximizes the benefits of each service type.

What’s the difference between wealth management and investment management?

Investment management focuses solely on portfolio construction and security selection to achieve specific return objectives. Wealth management encompasses investment management plus comprehensive financial planning, including tax strategies, estate planning, risk management, insurance optimization, and philanthropic planning. Wealth management takes a holistic approach to all aspects of financial life.

How do I evaluate the quality of a private bank or wealth management firm?

Evaluate potential providers based on team credentials and experience, depth of service offerings, technology platforms, client references, fee transparency, and cultural fit. Request detailed proposals outlining their approach to your specific situation. Look for firms with certified professionals (CFP, CFA, CPA), established track records, and robust compliance procedures. Most importantly, choose advisors who understand your goals and communicate clearly.

Sources

• APS ITaxes. (2024). “The Difference Between Private Banking and Wealth Management.” APS ITaxes Blog.
  • https://www.apsitaxes.com/blog/private-banking-wealth-management
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About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

One of the most challenging aspects of starting a business is financing. You can try to convince investors and venture capitalists, but your chances of getting funding through these channels are slim if you are new to entrepreneurship. You can also discuss this with your bank, friends, and family to see if they can lend you money, but it’s often a tough battle.

Crowdfunding: What Should a Budding Entrepreneur Do?

One of the best options available to you is crowdfunding. You can launch a crowd-lending campaign to request funding and validate your idea. But make no mistake, crowdfunding campaigns require a lot of work. If you want to start a business, you must be ready to invest the time and energy necessary to promote your project.

Crowdfunding introduced a significant change in how entrepreneurs evaluate and give birth to their products. As the personal computer has brought computing to everyone, Crowdfunding has put investment and financing in the hands of the masses.

Crowdfunding finances projects, from $ 1,050 raised for a chicken burrito to investing billions of US dollars in real estate investments. The range of projects using Crowdfunding is seemingly endless. However, obtaining funding is more challenging than it seems.

The First Failure: You Can Always Try Again

You can learn many things from a crowdfunding failure, and it could provide you with the lessons you need to make adjustments for a future campaign. Although you should never fail for the sake of failing, it is best to adopt the mindset that you have nothing to lose because you have none.

So, every attempt would provide you with invaluable data and feedback in the real world. The chance to appear on a crowdfunding platform that receives hundreds of thousands of visitors each month gives you an excellent exposure rate.

This audience will give you their comments and can help you guide the design of your future products. You must understand that it is not just a question of money. Your crowdlending campaign can help you validate a product, build a supporter base, and find future customers.

Set Realistic Crowdfunding Goals

The longer a crowdfunding campaign lasts, the more it raises funds. But, experts say longer crowdfunding campaigns are less likely to achieve their goals. Statistics show that a high percentage of donations come during the first days of the campaign. It always follows a lull, followed by another peak during the campaign’s last days.

Setting up your campaign for a month reduces the lull period between the initial and final peak of donations. It allows you to raise funds faster and move on to production and execution.

Many entrepreneurs are tempted to overestimate the capital they need to get their projects started. They have probably never done the research necessary to determine the costs for the start-up. So, do your homework before you set a campaign goal above what you need to start your business.

Find out about the actual costs. Get the real numbers. Then, you can adjust for a small safety margin. This process will help you set more realistic and achievable funding goals. However, it would be best to consider the costs of running a campaign and fulfilling orders before committing to a final funding goal.

Build an Access Crowdfunding Page

Having a fundraising page drives your crowdfunding campaigns towards remarkable success. Your crowdfunding page should provide details about the cause to attract donors for maximum donations. For this, you need to create a crowdfunding page that the audience can find easily on the internet. As a result, more and more donors will land on your page for donations.

Your crowdfunding page should include an intuitive campaign title, aesthetic visuals, and a precise and concise description. Everything on it must be well-engaged.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

There are many companies that, despite being profitable from an operational point of view, have been suffocated by a cluster of debts derived from poor financial management. That is why, after the approval of Royal Decree-Law 4/2014 of March 7, announced by the Government. With the latest measures for contracting and financing SMEs, many will have the opportunity to refinance their debt thanks to new formulas that simplify and streamline processes.

The new regulation, which entered into force on March 9, modifies some aspects of the Bankruptcy Law 2003. It aims at companies with excessive debts not involved in the bankruptcy proceedings and can opt for new formulas to relieve the financial burden or “deleveraging.” Thus, the new measures aim to protect companies with debts when banks demand a necessary bankruptcy.

But what does all this mean? These new measures allow companies to reach more favorable agreements with their creditors (usually banks). It will enable them to request new financing to continue operating and deal with long-term debt. Also, it opens the possibility that creditor banks can convert part of their debt (which is not sustainable for the company) into capital.

Refinancing Formulas for Companies with Debts

Individual refinancing agreements: Refinancing agreements may reach one or more creditors if they improve the patrimonial position of the debtor without the need for significant liabilities.

Collective Refinancing Agreements not Judicially Approved

The independent expert report will no longer be necessary, and a certification from the auditor will prove that the concurrence of the required liability majorities is sufficient. These agreements may not terminate later (unless they fail to comply with the requirements) if the debtor comes into bankruptcy proceedings.

Collective Refinancing Agreements Judicially Approved

The judge will only have to verify the concurrence of the required majorities. That is 51% and not 55 until now—the formal requirements to agree on their approval. The agreements, once approved, may not be terminated if the debtor comes to enter bankruptcy proceedings.

Although the new measures aim to prevent the liquidation of companies, they can continue to operate and contribute to the generation of wealth and employment. It seems that they are more destined to solve the financial problems of the enterprises and financing paths. It includes a medium-sized enterprise and a smoothness for Small businesses and freelancers, who are precisely those who find the most difficulties when accessing credit.

The Best Financing Measures to Get Rid of Debts

Managing finance has multiple complexities, especially when it comes to running a small business. Often, the owners of such companies need a reasonably obvious method for completing the rundown of what they wish to have.

Reset your Budget Plan

You must have a complete record of your current and updated financial status for business management processes. For this, you will have evaluated your business operations and the level of money transactions. It would be best if you used all your financial key performance indicators. You must know when, where, and how you have spent your money and what resources you have used, including your rent.

Hire the best bookkeeper or accountant to evaluate your business budget. You can also consider free businesses that offer different workshops on business budget management. Use accounting software to automate the budget process. QuickBooks can be the best choice for you. Using it, you can monitor the smoothness of your business’s cash flow.

Cut Your Expenses

Check your total business expenses and operating costs. Look at your daily expenses, services, and operations, then evaluate them by cutting the rest. Check out which subscriptions and memberships you use rarely. Then, I decided to suspend all of them. Strive to negotiate with certain vendors for prices and flat rate reductions. Track the expenses of your advertising channels that give relatively little profit. Find out a single thing that adds up to substantial business debt. Pinpoint all these expenditures that increase your debt. In this way, you will have better cash flow, and there will be a significant reduction in the business debt burden.

Temporary Cash Payment

Change your business expense management that will bring your small business proceedings under control. Pay all your credit card bills on time if you want to shop online. Also, you can avail of loan services of any amount. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Since the start of the famous mortgage meltdown, which resulted in financial crises, “Resilience” has often been thrown around a lot. In simple words, resilience means rolling with the blows and keeping going despite the conditions, etc. Resilience in finance implies the ability to bear financial crises and keep moving forward. 

A few examples of economic resilience are getting a divorce, facing unemployment, dealing with disability, and other health problems that affect an individual and others, such as recession, stock market falling, and acts of terrorism that affect society. According to research done by a professor at the University of Minnesota, five main characteristics enhance resilience in people and enable them to face life changes and challenges. 

Here are the five main characteristics to enhance resilience. 

Positive

There is a famous example: what do we do when nature gives us lemon? We make lemonade.” Such illustrations portray the image of a positive individual who always tries to make the most of everything and never loses hope. A positive person can overcome almost anything. However, there is a thin line between positive and denial. Always be optimistic in all matters.

Focused

Maintaining a solid focus is extremely necessary; determined people will always find a way to get ahead. Staying focused is the main goal. People should always look towards the future and stick to their goals so that declining life events and other barriers cannot discourage them.

Flexible

Be flexible and learn to adapt, being open and adjustable when it comes to new opportunities. Adopting change is a high-key trait that makes a person resilient.

Organized

Staying organized is crucial. People who can set priorities properly and develop controlled approaches to manage change have a higher chance of being resilient.

Proactive

Be proactive in all of your affairs. These are the type of people who instead work with change and try to adjust to different environments rather than defend against it.

Building Financial Resilience

Financial resources such as savings, insurance, and decent-paying jobs can enhance financial resiliency in people. Another reliable source is capital, which can be when someone’s knowledge, skills, contacts, and other personal self-improving qualities.

Health is a big part of a person’s finances because it can affect someone’s efficiency and presentation. Having solid social capital can also increase financial resiliency in people. A strong social support system includes having good friends, family, neighbors, colleagues, and other people who can give financial and emotional support when needed during tough times. A few examples of this are below:

• Maintain a ratio of low debt-to-income. Once-a-month customer debt payments should be around fifteen percent or less than take-home monthly pay. For example, if 275 dollars of debt is divided by 2,500 dollars of net income, it will equal a consumer’s debt-to-income ratio of eleven percent.
• Having a reliable backup and emergency fund with at least three months’ worth of expenses for bad times. Keeping a liquid amount in extra cash equals a credit union savings account, money market fund, etc.
• Never stop learning new things, including education, job training, etc. Experts always advise people to care for their physical health and never stop learning new marketable skills. Insurance is another excellent way to obtain future security during challenging times such as accidents or illnesses.
• I want to learn more about finances and gain financial knowledge to help make better financial decisions. It is incredibly beneficial for a person to know more about such basic investing principles.

Not having surety is a scary thing. But it’s also a big reality of life that a person can’t ignore. It’s always better to prepare for the worst to avoid being a victim.

Summary

In summary, the article emphasizes the crucial concept of resilience in the financial realm, particularly in the aftermath of events like the mortgage meltdown. Resilience involves navigating challenges, adapting to change, and persisting through adversity. 

Applying these traits to finance involves building resources such as savings, insurance, and stable employment. Personal assets like knowledge and social connections contribute to financial resilience. Health and a strong social support system are integral components. 

The proactive pursuit of financial knowledge and preparation for uncertainty empower individuals to navigate the complexities of the financial landscape successfully. Building financial resilience helps individuals weather challenges but positions them to thrive in a dynamic economic environment.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

You had been planning to launch your startup for some time. After overcoming the usual hurdles and months-long planning to establish the business, it is time to get on with it. However, what if something goes wrong again or if you don’t know what medium to use to promote your business correctly? Launching a business can be confusing and sometimes downright frustrating for first-timers. If this is your first attempt, keep trying and continue learning the basics.

Make a list of methods that will help you promote your small business most effectively. Settle down and realize the usefulness of social media as it is being used by four billion users worldwide. Would you let the opportunity pass you by and not do something about utilizing it to the fullest? With that many users that you can potentially tap into as customers, you would love to.

Learn how to use social media to launch and promote your business worldwide.

Find a Massive Audience for Your Business

As discussed, social media continues to expand its footprint worldwide at an unprecedented pace like never before. It will help if you learn to use different social media platforms properly. Start using the most popular media and check if they can offer your desired business. Small businesses are known to put their social media accounts to good use. You are expected to achieve this by setting some rules that will help you develop your business account on a firm footing.

Hire social media experts and assemble a team to handle your accounts. Brief the team about targets you wish to achieve for your business using social media platforms. Social media experts understand what your business needs. They can fast-track the promotion of your business and make it happen much sooner than you could’ve achieved. That’s why you would hire them in the first place, right? With that in mind, take your social media team on board and have them do their stuff. Ensure minimum interference, but keep a vigilant eye on proceedings to be safe.

Affordable and Fast Promotion for Small Business

Did you know social media users often stay logged in day and night? There is an opportunity to identify and promote products and services to such customers for social media experts. They’ll start by creating a business account for your business and promoting it on different channels. They would request people like the performance and participate in activities and surveys whenever possible.

Next, social media experts will wait to flood the account with media and information. They’ll play smart and update the statement once or sometimes twice a week. The performance will stay updated at this frequency and attract users who prefer participating in activities. Launch the questionnaire and urge users to fill it out within a few days, preferably within a week. Check feedback on activities each time and notice the number of fans who participated in current and previous actions.

Keep Your Business Accounts for Business Purposes

Remember that business accounts are strictly for business, with no personal activities to occur on them. You can maintain a personal statement in addition to a business account and continue using it separately. The business account will continue to post business-related and product launch updates and acquire user feedback on each development.

As for other social media platforms, they’ll also promote your business and tap into customer feedback. After attaining enough users, social media experts should start using these accounts to promote business more aggressively. You should more frequently load updates, media clips, and photos with event-related updates. Surveys must be there with user feedback on each study to help you identify your business account’s overall popularity.

Paid campaigns on social media are a norm nowadays, so tap into that as well. These campaigns will cost you a little, but these platforms will prove more affordable for your business.

In the meantime, continue using other promotion platforms to promote your business. E-commerce entrepreneurs should work on their websites to improve customer experience. Usual tweaks may not cut it, so ask your developers to improve the overall experience and put the site through maintenance to improve its performance. These sites will likely continue receiving traffic constantly, so they should continue functioning correctly.

Keep these in mind and tap into social media to promote your small business to the world to make them buy your products and services as planned.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

If you already know what control means in GTD, it is time to delve into the first step: collect or capture. Collecting means capturing everything that goes through your mind in an external, reliable system you know will always be there and never forgotten. This is the first step to achieving an effective Productivity System.

A Demanding World Full of Commitments

I am sure that your life is entire of commitments. At all times, you have to do something. And if you are not doing it, sometimes it seems you are not as productive as you should be. Also, you often end your day with the feeling of not having done everything you should do.

Don’t worry, it’s normal. Right now, your life is going at a speed that even you cannot manage properly, hence the importance of the habit of capturing. If  you want to do many things to go far and achieve all your goals. Your partner, children, and parents want you to do many things to get you very far. The head of your company, you’re superior. They want you to do many things to get far and fulfill your goals. It can make you enter a spiral of doing, doing, but sometimes there are more important things. And obviously, you don’t get everything you would like.

The solution? I will tell you at the end of the article, but I think you already have it clear. Capture everything in an external system to live with less stress.

The Reality of Life in Our Day

As you can see, you and I were born in a world entirely of commitments. The thing may not be like that a few thousand years ago. At that time, the main objective of any person was to survive, hunt for food, and help their tribe with the best intentions.

Currently, living does not seem to be a problem. Food is not suitable for many of the people who live in our country. So, life has changed for the better, something you must take advantage of in your favor.

This change has led to a different way of working, not only at the industrial, technological, or electronic level. Now you have commitments that did not even enter people’s minds before, enough work they had to do to stay alive.

One of the main problems with all this is that you have to fill your mind with many commitments, which often causes you a feeling of stress that does not allow you to live in peace.

The mind is a great counselor and creative, but she has no idea how to manage the information you give her.

Your mind is perfect for some things. It allows you to feel and live life with the people around you.

It also allows you to find creative and different solutions to the problems of your day today. It even allows you to decide between several options and, often, correctly, as long as you have the correct information.

Strategies to Clear Your Mind

Distract Yourself

Find something else to think about when you are left alone with thoughts that leave you feeling overwhelmed. It doesn’t mean you take a break from your routine and go on vacation. You will have to be more concerned about your responsibilities. Take out some space and time to figure out the things. Try to find ways that can reduce pressure and tension.

In 2015, the researchers of the Journal of Neuroscience studied the way by which the brain archives optimal inattention. They said it could happen when the synchronization of brainwaves changes between different parts of the human brain.

Mindfulness

You can’t tell your brain to shut up as it continues, whether you are getting angry or upset. It means your mind is full. You only observe your mind and surroundings in a non-judgmental way. You are in a state of mindfulness whenever you get awareness from your direct experiences through your state of mind, senses, thoughts, and emotions. Try to remodel the physical structure of your brain while training your brain to be mindful.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.