Client Newsletter: September 30, 2017

Hoover Financial AdvisorsOctober 15, 2017

Clients Newsletters

It has been a pretty smooth ride – so far!

The third quarter is over and we would expect most investors to be very happy. As we head into the home stretch, we expect quite a bit of action – budget battles, geo-political volatility, tax reform issues, health care changes, holiday shopping, potential interest rate increase and list goes on. This year, so far, has been marked by historically low volatility and there doesn’t appear to be an imminent catalyst for a surge—barring perhaps a military escalation of the war of words between President Trump and North Korea’s Kim Jong Un. In the meantime, year to date, we have only seen 5% of trading days with a move in the S&P 500 of greater than  +/- 1%; by far the lowest level since 1982, when intra-day data began to be recorded. In addition, for the first time in a dozen years, there have been no +/- 2% days this year; while the maximum drawdown has been the shallowest in the history of the S&P 500.  But the year’s not over, needless to say (Charles Schwab Market Perspective 9/29/17).

So where does that leave us?  The term cautiously optimistic seems appropriate, although admittedly overused. With no shortage of pundits looking for a correction, it adds to the notion that the “wall of worry” stocks like to climb is still intact; notwithstanding the aforementioned bump up in optimism. Ultimately, we believe the next cyclical bear market will appear when stocks begin sniffing out the next recession—likely still in the distance—and/or if the Fed is forced to tighten monetary policy more quickly than what’s currently baked into assumptions. In the meantime, our advice is to remain diversified and disciplined, and stay focused on long-term goals—not always exciting, but historically profitable (Charles Schwab Market Perspective 9/29/17).

HFA and Villanova Financial Services have merged!

HFA is pleased to announce that we have merged with Villanova Financial Services (VFS) effective October 1, 2017. We are beyond thrilled to have the VFS team join us! The company continues to operate as Hoover Financial Advisors and the VFS team has relocated to our current location in Malvern. In concert with the seamless merger, several noteworthy outcomes are in place. Combined assets under management exceed $775 million. Employee count is 22, which includes five certified financial planners. Office space is increased by 2,500 square feet giving HFA 75 percent of the complex. The advantages of two successful family businesses working as a team promise substantial rewards for clients. 

All of our clients and their families can be confident we are mutually committed to a common goal of satisfied clients who are achieving their financial dreams. We positively look forward to the future as a combined firm. Thank you for your continued support and loyalty.

Please save the updated HFA team member contact information listed below. Please visit our website for additional details on their backgrounds and experience.  Feel free to reach out with any questions!

HFA Advisors

Pete Hoover: pete@hfaplanning.com Ext. 110

Will Mullin: will@hfaplanning.com  Ext. 130

Joe Dowling: joe@hfaplanning.com  Ext. 127

Brian Fisher: brian@hfaplanning.com Ext. 133

Pete Scilovati: petescilovati@hfaplanning.com Ext.122

Tim Curvan: timc@hfaplanning.com Ext. 115

Administrative Team

Sue Finnegan: sue@hfaplanning.com Ext. 102

Danielle Marinelli: danielle@hfaplanning.com Ext. 101

Katie Koons: katie@hfaplanning.com Ext. 121

Amy Keller: amy@hfaplanning.com  Ext. 103

Mary Pat Finn: marypat@hfaplanning.com Ext. 131

Kelly Hoover: kelly@hfaplanning.com Ext. 120

Financial Planning Team

Jerry Fahey: jerry@hfaplanning.com Ext. 112

Ted Braun: ted@hfaplanning.com Ext. 124

Rob Dowd: robert@hfaplanning.com Ext 128

Investment Management Team

Thomas Balis: thomas@hfaplanning.com Ext. 125

Tim Grove: tim@hfaplanning.com Ext. 105

Craig Eppler craig@hfaplanning.com Ext. 104

Mary Ostien: mary@hfaplanning.com Ext. 132

Tax Team

John Furey: john@hfaplanning.com Ext. 123

Carol Olver: carol@hfaplanning.com Ext. 106


Fall Funds for Food Campaign

We are excited to be raising money during October for our Fall Funds for Food campaign. Five years ago, our company chose Chester County Food Bank as its charity of record. Since then, we have contributed more than $50,000 to the not-for-profit 501©3 organization. In addition, HFA staff has spent numerous hours either at the Food Bank Kitchen or in farmers’ fields supporting various projects. We appreciate your generosity in the past and look forward to your continued support. Your donations allow the Food Bank help families in need.  It will also allow the Food Bank to create innovate programs to address the root causes of hunger, keep freezers running, trucks on the road and to purchase food in bulk. Please mail any donations to our office (112 Moores Road, Suite 100, Malvern, PA 19355). Checks can be made payable to “Chester County Food Bank”. Thank you again for your kind support and generosity!

HFA Open House

You should have recently received an invitation in the mail for our Open House event on November 7, 2017.  The event will be held in our office from 4pm-7pm.  We look forward to having both existing HFA clients and new clients who have joined us from VFS. This is an opportunity to celebrate our merger, get to know all of the HFA team members, enjoy food and beverages, tour our office and learn more about our technology products.  We ask that you kindly reply by October 24th to Katie Koons at either 610-651-2777 x121 or katie@hfaplanning.com. We look forward to the event and hope you can join us!

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®