Market Update
Investors for the third quarter of 2014 received mixed news, with the S&P 500 index up only 1.13% for the quarter, while the MSCI EAFE NR USD (international stocks) was down 5.88% and the Russell 2000 TR USD (small cap stocks) was down 7.36%. Bonds held their value with the Barclays US Agg Bond TR USD providing a .17% gain for the quarter. We should expect more volatility in the fourth quarter as the Federal Reserve discontinues the bond buyback program and eliminates the Quantitative Easing stimulus. Please do not hesitate to contact us with any questions about your investment portfolio.
Simplifying Medicare
We recently completed a client educational event on the topic of ‘Simplifying Medicare’. If you were not able to attend our seminar, we have taped the presentation and will make the handouts available on our website www.petehoover.com for your benefit. We will notify you when the materials are available. You may also want to contact our speaker, Lisa Korab, President of Positive Insurance Solutions, LLC, and her office may be able to answer your questions. You can contact Lisa at the following number, 610-716-1378 or through email: LisaKorab@comcast.net. Please feel free to visit her website as well – www.PositiveInsuranceSolutions.com.
Employee Updates
As you may be aware, Gail Coxe has moved on from her position with Hoover Financial Advisors, P.C. after fifteen years. We are sorry to see her go but wish her well in her new endeavor.
Starting October 13th, Danielle Marinelli joins our team. We are very excited to welcome Danielle and look forward to her getting to know all of you. She will work with Sue Finnegan in HFA’s Client Service Department. Their responsibilities include:
Contact Information:
Danielle Marinelli – Phone: 610-651-2777, Ext. 101 and Email: danielle@petehoover.com
Sue Finnegan – Phone: 610-651-2777, Ext. 102 and Email: sue@petehoover.com
We are also pleased to announce John Furey, CPA, JD, LLM has joined the HFA team as a Senior Tax Advisor. John’s background includes more than 25 years as an executive with Campbell Soup Company. He is knowledgeable about the tax implications of executive compensation, stock options and restricted stock, incentive programs, deferred compensation, 401(k) and pension plans and employee benefits. He enjoys helping clients with their tax planning to achieve their financial goals and prepare for retirement.
John’s experience will bring additional tax expertise to HFA. In addition to being a CPA he has a Doctor of Jurisprudence degree and a Master of Laws in taxation. John will be available to work with HFA’s clients on any simple or complex tax related issues. John’s contact information is – Phone: 610-651-2777 Ext. 123 and Email: john@petehoover.com.
Year-End Tax Planning
As we approach the end of the year, you may want to consult with John or our tax planning team to discuss any tax planning strategies that may be beneficial for your situation. Here are a few strategies we think are worth considering:
HFA Funds for Food Month
As you all know, HFA has designated the month of October as HFA Funds for Food Month. We are collecting money to support the Chester County Food Bank and its many programs. We greatly appreciate all of the donations we have received thus far – your generosity is overwhelming. If you have not donated and would like to do so, please send your check (made out to Chester County Food Bank) to our office by Friday, October 31st. Thank you very much for your assistance in supporting this cause.
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®