Year End Fireside Chat with David Edwards, President of Heron Wealth

David Edwards, President and Wealth Advisor and Buff Parham of Parham Associates presented a webinar Sunday, December 19th at 6PM EST.

Here is the transcript of their conversation:

?Brief Look Back at 2021

What’s the one word you might use to describe 2021?

The one word for this year is the same as last year: Resilience. There are two things I’m talking about. One is the resilience of average Americans, and particularly our clients, who fought through every possible obstacle this year and came out on top. The other is the resilience of the American economy, which sprung back faster than anyone could have imagined, and is now well above the levels of March 2020, right before the pandemic started.

It’s instructive to look at how the 25 or so of our families who are business owners dealt with the past year. For sure, things were pretty bleak between March and May of 2020 — I spent a lot of time talking on the phone with our clients, making sure they got their PPP loans (I got mine). PPP loans were real life-savers for a lot of companies. Not everyone survived, but the ones who did actually ended up with a reserve of capital that they’d never had before, enabling them to go out and hire new people and expand their businesses.

My business had its best year ever — grew 51% in revenues last year. We were working so hard I had to hire two new people. Talk about resilience. I was worried about the survival of My business in May 2020, but I’ve never had a better situation than right now.?

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