Client Newsletter: April 15, 2014

Happy spring!  We are all glad to see winter gone!

Market Update

We have changed the Market Update report to reflect the four major indices and their past performance over quarter end (3/31/14) rolling returns for YTD, 1, 3, 5 and 10 year periods of time.  We feel this data will be more useful in analyzing the past returns of various markets.  Obviously, past performance is no indication of future results.

3-31 Rolling

The following is a brief description of each of the various indices.

Barclays US Agg Bond Index – A market capitalization-weighted index, of most U.S. traded investment grade bonds, excluding Municipal bonds, and Treasury Inflation-Protected Securities.

MSCI EAFE NR USD A free float adjusted market capitalization-weighted stock market index that is designed to measure the equity market performance of developed markets outside of the U.S. & Canada. The EAFE acronym stands for Europe, Australasia and Far East.

Russell 2000 TR USDA small-cap stock market index of the bottom 2,000 stocks in the Russell 3000 Index, typically identified as small cap stocks.

S&P 500 Index A stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.

Tamarac Is Complete!

We are very pleased to announce that the full conversion from our old investment management system has now been completed and our new client portal – TAMARAC is now fully functional!  Many of our existing clients are already using this system and have been very pleased with the information and results that are available. If you have not had a chance to review the system, the following is a list of the information that should be available on your personal site.

  • Current asset allocation of your existing investment portfolio
  • Current values of all your assets within the system
  • Past Performance of your assets over various time frames
  • Investment history showing transactions in your account
  • Ability to link assets outside Schwab and PKS to have all investment assets reported on one report
  • Document vault to electronically store important papers such as estate documents, tax returns, beneficiaries and insurance policies

The statements attached to this letter are provided by Tamarac.  In the future, we will run all of our statements through Tamarac.  We encourage you to visit our website- www.petehoover.com and go to the Client Access section to get started. If you have any questions or need help accessing Tamarac, please do not hesitate to contact our office.

Email or Mail

Now, that Tamarac is completed, every client should be able to access their investment accounts online anytime desired.  Beginning in June, 2014, we are going to stop mailing quarterly statements via U.S. Mail and begin to post them to the client portal of Tamarac.  Through your secure login and password, you will be able to access your statement electronically and save a few trees.  This will also allow you to store the quarterly statement in your client portal for future review and not clutter your home file cabinets.  We will notify you by email when the statement has been posted to your client portal.

If you would like to continue to receive your quarterly statements via U.S. Mail, please complete the enclosed card attached to this letter and return to us.  Please note it is only necessary to return this card if you would like to have future mailings and statements received via U.S. Mail.

Meet our Newest Team Member

We are delighted to introduce the newest member to the HFA family. Peter A. Scilovati, CIMA®, recently came on board as a financial advisor. His 20-plus years of asset and wealth management experience are an asset to both HFA and our clients.

Prior to joining HFA, Peter was a financial advisor in the Berwyn, PA, office of Morgan Stanley Wealth Management. Before that, he was a principal and director at Turner Investment Partners in Berwyn. He is an active member of the Investment Management Consultants Association and the Philadelphia Estate Planning Council. He and his wife Jane and three children, Alec, Natalie and Luke reside in Devon. In addition to family, Peter lists his passions as golf, reading and spending time at the beach. Peter holds a BS degree from Excelsior College (USNY) in Albany. He completed studies for a minor in business administration from Pennsylvania State University. In addition, he earned Certified Investment Management Analyst (CIMA) designation, an executive education program offered in conjunction with the Wharton School, University of Pennsylvania.

When asked why he chose HFA, Peter was quick to reply. “I’ve known Pete for 12 years. His integrity, character, and work ethic are exceptional. The opportunity to join an independent advisory firm was extremely compelling. Moving my practice from a wire house to Hoover Financial Advisors ensures that my clients will feel an increased sense of partnership and friendship.”

Upcoming Seminar

Please join us over lunch on May 20, 2014 at The Desmond Hotel in Malvern for our spring client educational seminar.  Our guest speakers will be Edward Lee, CPCU and Nancy Albanese, AAI.  Edward (Ned) is Vice President and Nancy is a Personal Lines Manager, both at Powers, Craft, Parker & Beard, Inc.

During the program Ned and Nancy will review the basics of personal line policies, exposure and coverage analysis, how to address key exclusions, ways to reduce the potential of a claim and what to do if a claim occurs.  In addition, the program will also focus on Identity Theft/Cyber Security issues including the loss exposure and associated costs.  They will also cover ways to reduce the chance of identity theft and what to do if it occurs.  Lastly, they will touch on identity theft protection services that are available and help you determine if it is worth the additional cost.  Our speakers will also be sure to leave time to address any questions.

We truly believe this will be an extremely valuable and informative discussion for all of our clients.  We encourage you to attend if you are available.  The seminar will begin with lunch at 11:30 and the presentation will continue at 12:00.  Please RSVP to Sue Finnegan at 610-651-2777 x102 or sue@petehoover.com in order to confirm your attendance.  We look forward to seeing you there!

Tell us what you want to hear!

By now, all of you should be aware that we have started a Blog and are sending out information semi-monthly.  We are trying to provide information that is important and relevant to your financial situation.  You can view our Blog on our website, but it is also being emailed to you every other Friday.  If there are any topics of interest that you would like us to research or write about, please send them to us.  We would be glad to try to answer your financial questions in a future blog.

As always, please do not hesitate to contact our office if there have been any changes within your financial situation.  We look forward to continuing to be of service to you in the future.

Best Regards,

Peter K. Hoover, CFP®