Davis Financial Group Operations Update
Dear Clients and Friends,
First and foremost, we hope you’re well, and that you and those in your lives stay well! We’re writing to check in with you, and let you know what our plans are over the next weeks or months possibly as we contemplate life in the time of COVID-19, a strange new world indeed. Obviously, we are committed to doing our part in helping our clients, other visitors, and our staff stay safe as we move through this global event, while at the same minimizing or eliminating any disruptions in service and staying connected. We’re also committed to doing our part in slowing the spread and “flattening the curve”, that we’ve all been instructed on by numerous public health officials we now share our living rooms and cell phones with, by allowing for maximum social distancing. Luckily for us this can be done easily as so much of our work with existing and even prospective clients can be done remotely – via phone/teleconferencing, email, snail mail, Skype and/or Zoom. We will be contacting those with whom we have face-to-face appointments to make arrangements for alternatives – feel free to check in with us as well if you have an appointment on the books or would like to make one.
It should be said that during moments like these, the best thing to do for you – and those you know – is either to refer to your existing financial plan, or to craft a new one. This will help you apply the discipline needed to manage your affairs optimally and avoid being in the dark and driven entirely by emotion, which is so easy to do in these informationally overloaded and uncertain times.
Now a few more words about the investment markets: I’m writing this on Sunday, at a moment of relative respite from the storm, but none of us believes that the storm is over. Not by a long shot. What has become clear, and what I find personally comforting as this continues, is that it appears that the market volatility is a response to the fear and uncertainty brought on by the COVID-19, and likely is not indicating any major systemic weakness that could traumatize the system the way the debt crisis did in 2008. This is not to say that there are not rumbles – the market was at an all-time high, with many stocks highly valued, and some “correcting” was bound to happen. Unfortunately, we do know the virus is already bringing on financial woes and hardship – layoffs, systemic business disruptions, cash flow crisis, etc., and the analysts are already saying that these could lead to conditions consistent with the early stages of (or a brief) recession, which we might have been due for anyway. I guess there are always those who see in a crisis the possibility of apocalypse, but we don’t go there – far from it. It will be a challenging time, and things will get worse before they get better. There will be worry and loss, but also tremendous opportunity. We believe that sometime later this year we will be on the other side of this and will be on track for better times ahead.
Most importantly, we want you to know we’re here with you on this journey – never hesitate to be in touch with us for any reason. We will be reaching out to many of you by phone in the coming days, but don’t wait – we’d love to hear from you, and of course we wish you safe passage through the coming days and weeks. And as my Yiddish speaking progenitors would be saying, “Vash Ayere Hent, un Blaybt Gezunt” – wash your hands, and stay well!
Allen & the DFG Team
Allen J. Davis, CFP® ChFC
Financial Planner and Advisor
Davis Financial Group, LLC
10 Bay Road, Hadley, MA 01035
(413) 584-3098 x11 office
(413) 427-2782 mobile
(413) 584-0160 fax
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