2020 – and what a year it was! Through elections, pandemics, lockdowns and PPP loans , WealthEdge® was proud to be able to proactively help our many clients through this tumultuous year.
Our tax and accounting team prepared over 50 PPP loan applications, securing over $5.8 million in much needed small business funds. They have also expanded their payroll services to include HR administration and compliance, integrating a more complete Business Planning service.
Our investment team spoke with many clients, reassuring them to avoid emotional responses to the marketʼs volatility. They provided investors a Second Opinion Service to reevaluate portfolios and make any necessary adjustments.
We also implemented a “Virtual Catalog” for prospective clients
(www.wealthedgesoundcheck.com/conversations/ ) which helps to visually and audibly explain the services we provide and the unique way we provide them.
Our WealthEdge® family expanded as well – welcoming 2 baby girls, hiring a new Junior Accountant, JiaYin Lu (a previous intern here), and congratulating James Lee for passing three of four parts of his CPA exam.
But, much of what we do at WealthEdge® has remained the same. We continually evaluate and upgrade our security systems to protect against malware attacks, minimize downtime and improve our clients’ data security. We continue to evaluate and adapt to the manner in which we meet and exceed our clients’ needs. We are constantly improving strategic relationships – eliminating those that aren’t up to our standards and engaging those that show the same level of professionalism and care that we do. We take our role of your financial partner seriously and expect our strategic alliances to do the same.
We continued to stress the importance of sound business practices – having an emergency “nest egg” of funds to cover at least 3 months expenses, focusing more on your balance sheet, as opposed to profits and losses, and stressing the importance of feeding your business with the reinvestment of funds.
And for our Personal Planning clients, we have stressed the importance of having and adhering to a plan. Even with tumultuous market fluctuations, remaining calm and keeping emotion out of financial decisions is always in your best interest. We stressed the importance of being prepared; not just with adequate coverage for health and potential long-term issues, but also having a seamless access to important paperwork and information with our client online vault.
Although 2020 was a truly unique year, it didn’t really uniquely affect how we treat our clients at WealthEdge®. EVERY year has its challenges and each of those challenges can have a major impact on our clients’ lives. It is true that 2020 caused many of our clients to experience unforeseen obstacles to overcome, but don’t we have that every year to some degree?
We, at WealthEdge®, try to help our clients handle any circumstance – whether preparing for retirement, expanding or closing a business, or handling the expense of college or other major life changes. 2020 has helped us further realize the importance of communication – that all relationships basically stem from timely and informative “conversations”, even if those conversations cannot be done in person. We will continue to think outside the box to deliver a truly unique and complete Wealth Management service to you, our clients – through it all. Here’s to 2020 being in hindsight and to a happy and healthy 2021!