Client Newsletter: September 30, 2016

Hoover Financial AdvisorsOctober 20, 2016

Clients Newsletters

Market Summary

The Third Quarter is over and most investors should be very pleased with their investment results thus far!  2016 has proved to be somewhat unusual in that both stocks as measured by the S&P 500 (up 7.84% YTD) and bonds which are represented by the Barclays US Agg Bond TR (up 5.80% YTD) have delivered positive performances.  Good economic news, mild inflation, substantial new jobs, a friendly Federal Reserve, and positive corporate profit outlook all have contributed to the profitability of the markets.

Our past two client educational seminar speakers, Liz Ann Sonders, Senior Vice President and Chief Investment Strategist and Jeffrey Kleintop Senior Vice President and Chief Global Investment Strategist, Charles Schwab & Co, offer their opinions on the upcoming 4th quarter.  

Investors are gearing up for the fourth quarter

“Sports fans know that the fourth quarter is often when much of the game-deciding action occurs, and that may be the case for the stock market this year. The Federal Reserve has pushed the possibility of rate hike this year into the final quarter; the long-awaited return to positive earnings growth could be in store this quarter; economic data needs to show signs of bouncing back; and then of course there’s the U.S. election. Any or all of these could have a substantial impact on stocks. Add in what has a historical tendency for some pretty nasty October surprises, and the potential for an increase in volatility persists.

We continue to believe the secular bull market which began in 2009 is ongoing, but that we’re in a mature phase likely to see some discomforting bumps along the way. Timing these pullbacks right is extremely difficult and we urge investors not to try. Instead, stick with your long-term asset allocations and view pullbacks as a chance to add to positions as needed.”  ©2016 Charles Schwab & Co., Inc. All rights reserved. Member SIPC (0916-MKRG)

Our team at HFA stands ready to help you with any of your investment concerns.  We continue to invest in talent and technology to provide the best possible investment outcome.  Please feel free to contact us if you have any questions or concerns. 

Advisory HQ

Hoover Financial Advisors was named Top 8 Best Financial Advisors in Philadelphia, PA by AdvisoryHQ! AdvisoryHQ News is an online news media that provides extensive research, independent reviews, and top rankings of financial firms and products across the U.S., U.K., Canada, and Australia. Their goal is to give consumers, investors, high-net-worth individuals, and business owners the exact information they need, without any hype or jargon. This allows consumers to make their own decisions effectively regarding the best financial advisor that meets their own needs. To learn more about why AdvisoryHQ selected HFA go to: http://www.advisoryhq.com/articles/top-financial-advisors-in-philadelphia-pa/

Lunch & Learn

We have now hosted three successful lunch and learn meetings in our office this year; Schwab Donor Advised Fund, The Importance of a Family Meeting, and Medicare. We have received positive feedback from clients on these enjoyable and informative sessions. On November 15th, we will host our fourth lunch and learn of the year featuring Long Term Care. HTA Financial services will present important information regarding long-term care planning solutions and guidance regarding your personal situation. Space is always limited and slots fill up quickly! Let us know, right away, if you are interested in attending.  You will receive your invitation soon.

If you have any topics or ideas we could use as a future lunch and learn session, please feel free to let us know. We have enjoyed bringing clients into our office for these meetings and plan to continue them through 2017.

Fall Funds for Food Campaign – Chester County Food Bank

The month of October is HFA’s Fall Funds for Food Month, when we collect money to support the Chester County Food Bank and its programs.  Over the past four years, through your generosity, we have raised over $45,000 and provided those funds to feed the hungry people of Chester County. Last year, HFA set a goal to raise $15,000 and met the goal with ease!  This year we have already collected over $10,000 and with your help, we are hoping we can reach $16,000 to add to our impressive total. For each dollar contributed, the food bank can provide four meals or five pounds of non-perishable food. 

Our fund raising program has become a very valuable contribution to the Food Bank and its programs. There are over 70,000 local households that do not have enough food to feed their families. Chester County Food Bank distributes food to more than 30 local food cupboards and 60 other meal sites and agencies at no charge. We hope you will share our passion for this wonderful organization by showing your support with a donation.

Employee Updates

HFA is pleased to announce and welcome the newest member to our team, Matthew McLaughlin. Matt has accepted an Investment Analyst position and is currently working with Thomas Balis and Tim Grove in our Investment department. His primary responsibilities include the analysis and research behind our client portfolios. Matt assists with buying and selling securities on a day to day basis, performance measurement, reporting, investment research and rebalancing. He also monitors client accounts to ensure proper asset allocation. Matt brings a high level of experience to the team. His background, investment expertise and keen analytical skills have made him a wonderful addition to the team!

Contact Information:

Matthew McLaughlin – Phone: 610-651-2777, Ext. 104 and Email: matt@petehoover.com

Thomas Balis, APMA®, CMFC® has recently taken over the position of Investment Manager. Thomas joined the team in the fall of 2015 and has worked with the Investment team to construct and rebalance client portfolios, evaluate holdings, and prepare proposals with investment recommendations. We are confident that Thomas will continue to lead the Investment department and provide value added investment solutions to better serve our clients.

Contact Information:

Thomas Balis, APMA®, CMFC® – Phone: 610-651-2777, Ext. 125 and Email: thomas@petehoover.com

As always, please notify us if there has been a change in your personal financial situation, employment status, or family situation.  We thank you for the confidence you have placed in our team and look forward to continuing to be of service to you in the future.  Please let us know if we can be of any help at any time. 

Best Regards,

Peter K. Hoover, CFP®