R.V. Kuhns & Associates Inc, an investment consulting firm that advises on US$2.5 trillion in retirement plans and other assets, sent a message of confidence in a Securities and Exchange Commission filing this spring, as COVID-19 wreaked destruction across America's economy. The firm, it said, stood ready to"to maintain all the services we provide."
The loan to RVK was meant to protect 119 jobs at the firm, according to the government data. Voytko said in an e-mail that RVK had followed program guidelines and maintained staffing levels, though he declined to answer written questions about the extent to which the coronavirus pandemic had impacted the company's finances.He confirmed that almost all of RVK's revenue comes from fixed annual retainer fees.
Graphic: Industry jobs and PPP loans - https://graphics.reuters.com/HEALTH-CORONAVIRUS/PPP/rlgpdlqknpo/ Meketa, based near Boston with US$1.5 trillion of assets under advisement as of March 31, said in a regulatory filing this June that"we do not believe that we would have been unable to meet any contractual commitment absent our receipt of the loan. However, we believe that the loan was necessary to support our existing operations, including allowing us to maintain full staffing."
Hendrix said LeafHouse had received word from its mostly small business and non-profit clients that they were getting squeezed by a variety of factors, including a plummeting stock market and lower retirement contribution rates.