Parsec Financial, Asheville’s largest independent wealth management firm, announces zero job cuts as it navigates through the 2008-2009 recession. We started the year with 24 employees and we still have 24. Each one of those 24 is an individual whose job is very important to him or her and their family. Never in our 28 year history have we laid off a person for economic reasons.
This is the 14th recession since World War II. It is temporary and we’ll get through it. We are a financially solid, stable firm that is profitable and has very little debt. Clients of our firm, unlike those of many of our competitors, will not experience the discomfort of disruption of service that bankruptcies and mergers entail. Many major financial institutions have had massive layoffs and tremendous write-downs this year, but Parsec is retaining employees and remaining profitable.
Our motto is to always tell the truth; we offer smart, strategic, low cost advice from a locally-owned shareholder firm.
Bart Boyer, CFP®
CEO and Chairman