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July 2020 newsletter video

July 3, 2020

Welcome everybody! Abe Abich, Founder and CEO of Abich Financial Services wanted to shoot this video for our July newsletter and let you know what’s going on in the company for July of 2020.

First of, we’ve reopened our offices. If you want to meet us virtually over the phone and computer that is fine. But I can tell you , a lot of our clients want to meet us face to face so we’ve reopened our office full time now and we are having meetings on a daily basis. We’d love to see you here in our office because our office is your second home. I hope you feel that way.

We take measures to make sure our office is super clean, disinfecting surfaces, door handles and steels. And we have cleaning crews coming in everyday, so the office is very clean and we look forward to seeing you soon here in the office.

Second I wanted to talk to you about the state of the current stock market we believe that Main Street is not matching up with WallStreet right now because Wall Street is continuing to tick up and the markets continuing to go up on not a lot of great news out there you know we just reach 44 million people that are unemployed I know the week before last that number came down a little bit and then this past week that number went back up a little bit.

So you know the stock market’s continuing to go up but we feel like I don’t know that the current stock market is matching up with reality right now and the current MainStreet. What’s going on on the streets locally how our small business is doing you know we’ve seen a lot of businesses even in the Northern Virginia DC metro area that are never going to open again and those businesses that have stayed alive and are gonna survive what are they gonna look like in the future right so we think and this is just our opinions that sometime between August and November of 2020 things would get a little shaky. You know maybe we continue to peak up during the summer here of 2020 but August to November you know and even pass that be cautiously optimistic.

Don’t be too optimistic and and just think that we’re totally out of the
woods right now because I don’t think we are and we just have a feeling that we aren’t so again be cautiously optimistic about how you’re investing right now because we still think that things aren’t matching up right now and the market we still believe is very overvalued and can really can real we do for a pretty serious correction last want to give you wanted to give you an update on our team members so we’ve brought in on several new team members here over the last few months even during the middle of this pandemic in crisis we have been hiring and growing.

Our team which shows you how much our clients need us especially during the bad times when the markets are shaky so we brought on a brand new operations manager and you’ll see him when you come into the office and hear him over the phone and so forth and he comes to us from an accounting firm here in the DC metro area that he helped to really grow and build. So he we’re happy to have him on board and then we brought on to investment professionals one that’s that has 30 years of investment experience and has managed over 300 million dollars. He’s going to be like our investment partner here and someone we really look to to help our clients with the investment piece of their portfolio in addition to myself and then we brought on another gentleman who came over from a big time investment firm who is fully licensed so we brought on three new people.

We’re actually hiring for another fourth person and that person is going to be our new client services manager new business manager and client services to replace that old role so you’ll see some new faces here as you come into the office and call us over the phone we’re making those updates to the website and just wanted to give you an update as to the state of average financial services here right smack in the middle of 2020 we’re doing well and we’re here for you any time.

So if you just want a second opinion if you’re not working with us and you want a second opinion on your retirement plan now is a fantastic time to get one with the current state of the economy and market and if you’re a current client and you haven’t talked to us in the last few months we’d love to talk to you too just make sure you’re taking the appropriate risk and that your funds are in the right places from here on out which they should be so give us a call visit our website and we look forward to talking to you soon and until August of 2020. Have a great July!