Hoover Financial Advisors’ Philip Gagliardi Earns Prestigious Destination

Philip A. Gagliardi

Philip A. Gagliardi

Malvern, PA – Philip A. Gagliardi, a planner with Hoover Financial Advisors HFA), recently became one of only 350 individuals in the U.S. to earn the Certified Portfolio Manager® designation. This prestigious program is presented by the Academy of Certified Portfolio Managers and was completed at Columbia University in New York.

The designation, which was created five years ago, is the first of its kind for portfolio managers. To qualify, Gagliardi successfully fulfilled course studies in advanced concepts of Fundamental Analysis, Option Valuation, Foreign Currency Exchange, Credit Default Swap Strategy and Valuation Analytics. He and other designees explored cutting-edge issues in finance and investing with internationally recognized Columbia professors. The program was developed to meet a missing need among money managers enabling them to achieve the highest level of expertise in all facets in an ever-changing global economy.

Gagliardi joined HFA in 2011. Prior to that, he was a trust officer with Charles Schwab Bank in Wilmington, Delaware. Before that he held a similar position with Wachovia Bank in Wilmington. He holds a master’s degree in taxation and financial planning from Widener University, Chester. His Bachelor of Science degree from Cabrini College is in accounting.

“I am now better able to enhance portfolio models for our clients,” says Gagliardi. “The CPM program expanded my practical and pragmatic skills through in-depth theory and insight.” “We are very proud of Phil,” adds Peter K. Hoover, CFP, founder of HFA. “Achieving such a high-level designation is an excellent asset to the firm. Phil’s dedication to serving our clients is evident and testament to his commitment to the industry, as well.”

HFA, which is headquartered on Moores Road in Malvern, was launched in 2005 by Hoover, who has been an independent financial advisor for more than 30 years.  Since its inception, HFA has more than tripled in size. Employees include client relationship managers, financial planners, insurance and tax specialists, investment analyst and an information services manager.  HFA selected as 2012 Small Business of the Year by Chester County Chamber of Business & Industry. For more information, visit its website at http://www.petehoover.com or call 610.651.2777.

DA Announces Chester County’s Biggest Ever Drug Bust

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

WEST CHESTER, PA — Law enforcement officials gathered at the Chester County District Attorney’s Office Wednesday to announce dozens ofarrests in what officials called the largest drug ring prosecution in the county’s history.

Forty-four people were arrested and 12 more are wanted on outstanding warrants in what authorities dubbed “Operation Telaraña,” a year-long multi-agency probe targeting a major cocaine trafficking network with ties to a dangerous Mexican drug cartel.

Chester County District Attorney Tom Hogan led a press conference Wednesday morning that included members of local police departments, state police, a regional drug enforcement task force, and federal agentsfrom the Drug Enforcement Administration.

Salvadore Lemus, 65, was arrested on May 1 after a lengthy investigation identified him as the leader of a major cocaine trafficking network with ties to a violent Mexican drug cartel, according to police. Authorities said his 23-year-old son, Francisco Lemus, acted as Lemus’ lieutenant. A nephew, Mario Hernandez Garcia, was also arrested.

Read more: http://www.dailylocal.com/general-news/20140528/photo-gallery-da-announces-countys-biggest-ever-drug-bust

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PROTECTING HEIRS REQUIRES PRUDENT PLANNING

petehoovernewheadshotMalvern, PA – Recently, a profusion of Internet and print articles proclaimed problems with the will of Philip Seymour Hoffman, who died in February. The late actor’s estimated net worth at the time of his death was $35 million. A tax exemption on the first $5.34 million is provided by federal law. However, a tax of up to 40 percent can be levied against the excess.

One of many other glitches involves Hoffman’s three children. When the will was signed in 2004, he had one son. Thus, his daughters are not mentioned in the will, which leaves everything to his companion Marianne O’Donnell, the children’s mother. A Trust is provided for their son, but nothing is allocated to the girls. The family resided in New York and the state allows only a $1 million exemption. Thus, New York can tax O’Donnell up to 16 percent on assets left to non-spouses. A total of more than $15.1 million in combined state taxes was reported in an article in Forbes. Without a marital deduction, O’Donnell’s assets could be taxed again upon her death.

Last year, news sources stated that $30 million of actor James Gandolfini’s $70 million estate would be eaten up in state and federal taxes. Subsequent reports clarifying the earlier claim indicated this was unlikely to happen.

Peter K. Hoover, CFP, is intrigued with all these reports and sees essential value in alerting people to potential disaster if proper measures aren’t in place concerning estates and beneficiaries. “If ownership, beneficiaries and implementation of assets are not worded correctly, the Trust outcome will not work as intended by the testator. One way Hoffman (or anyone) could have prevented financial crises for his heirs was by adding one or two sentences to the will to provide for future children,” he notes.

“I believe that Gandolfini had an irrevocable Trust, which is tax free,” continues Hoover. “However, there are many misconceptions that can cause estate problems for heirs. To simplify, think of an estate as moving parts that must work together.

“For example, if a married couple prepare their wills when they are relatively young and name children beneficiaries of a sizable estate, it would seem there would be no issues. But say both parents die unexpectedly a few years later and the kids are under the age of majority. A court guardian may have to be appointed and fights over the estate could ensue, disrupting the family and perhaps denying one or more children the inheritance wished for them. To prevent this, children’s estate assets can be directed toward a Trust until they reach specified ages; a Trustee could be named to administer this Trust.”

Hoover suggests another possible inheritance problem prevalent in divorce situations. “If someone re-marries and immediately revises his will naming his new wife beneficiary, one would assume she would receive the estate. Not so, if all insurance and retirement beneficiaries are not updated, as well. Because a beneficiary supersedes the will, the former spouse could get nearly everything. This is because insurance policies, 401Ks and IRAs were not changed when the will was drawn up. These are only two of many situations that could be prevented with proper planning.”

Hoover notes that other stumbling blocks to a smooth estate execution include tax law changes, improper signatory or power of attorney, even lifestyle modifications. “An individual’s estate should be carefully structured and then reviewed on a regular basis. In short, planning today provides peace of mind for heirs tomorrow.”

HFA, which is headquartered on Moores Road in Malvern, was launched in 2005 by Hoover, who has been an independent financial advisor for more than 30 years. Since its inception, HFA has more than tripled in size. Employees include client relationship managers, financial planners, insurance and tax specialists, investment analyst and an information services manager. HFA selected as 2012 Small Business of the Year by Chester County Chamber of Business & Industry. For more information, visit its website at http://www.petehoover.com or call 610.651.2777.

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Gains And Losses In Philadelphia Region’s Population

A number of communities in the region’s Pennsylvania suburbs, notably in Chester and Montgomery Counties, grew substantially between April 2010 and July 2013, Census Bureau population estimates released Thursday show.

In Chester County, there were noteworthy upticks in municipalities such as Malvern, West Chester, East Brandywine, and West Goshen, and the same was true in Chester/Delaware County border towns such as Bethel and Chadds Ford. In central Montgomery County, Upper Hanover, Towamencin, and Salford were among the burgeoning towns.

Meanwhile, Philadelphia remained the fifth-largest U.S. city, with a population estimated at 1.553 million through July 2013, an increase of just over 27,000 from April 2010. It was the seventh year in a row of population growth, the census data showed.

(Population estimates for neighborhoods within the city limits will not be available until December.)

Read more at http://www.philly.com/philly/business/20140523_Gains_and_losses_in_Phila__region_s_population.html#MHpPEge1UgkCE6DR.99

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Truck Driver Who Damaged Rapps Dam Bridge Faces Charges

Rapps Dam Covered Bridge

Rapps Dam Covered Bridge (Photo credit: Wikipedia)

EAST PIKELAND TOWNSHIP, PA— Police say charges will be filed against the driver ofa truck that severely damaged the Rapps Dam Covered Bridge late last month.

Antoine Branham, who was driving the tractor-trailer with a load of flowers for a New Jersey nursery, is slated to be charged for a felony count of criminal mischief along with the lesser charge of causing or risking a catastrophe, according to the East Pikeland Police.

Read more: http://www.pottsmerc.com/general-news/20140522/truck-driver-who-damaged-rapps-dam-bridge-faces-charges

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Philadelphia-Area Municipalities Gaining, Losing Residents Fastest

The U.S. Census Bureau released new data today, showing the “subcounty” population figures for the year that ended July 1, 2013. That means every municipality in the country, no matter how small, can see how many residents it gained or lost in that period.

Census figures for counties and metro areas were released earlier this spring, with Philadelphia’s population standing at 1,553,165 residents, a 0.29-percent increase from the previous year.

The new numbers show which municipalities in the area gained or lost residents at the fastest rates between July 2012 and July 2013, and since the 2010 Census.

Read more at http://www.philly.com/philly/blogs/phillylists/Philadelphia-area-municipalities-gaining-losing-residents-fastest.html

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Boy Airlifted After Shooting In North Coventry

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

NORTH COVENTRY TOWNSHIP, PA— Two bicycles were left abandoned on the sidewalk of West Main Street in the South Pottstown section of the township Friday evening while emergency responders treated a child who suffered a gunshot wound.

The 8-year-old boy, according to witnesses, was riding his bicycle past the Pottstown Dance Studio near Coyne Alley when the incident happened.

An arch of blood that started near the bikes showed the path the victim took after the shooting. The crimson spots stopped in the grassy driveway next to the dance studio at 72 W. Main Street.

The child was not a student of the school, a dance studio official told The Mercury.

Read more: http://www.pottsmerc.com/general-news/20140509/boy-airlifted-after-shooting-in-north-coventry-video

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SpiritArts Workshop To Be Offered in Phoenixville

ImageProxy (7)
Come explore the practices in my new book!
SpiritArts Workshop

Develop your Spiritual practice through creativity. Drumming, singing and art making will be explored through a body-centered approach to develop Mindfulness, being present, letting go and having fun! Discover sources for self-discovery, artistry and well-being whether you are a beginner or are experienced in expressing yourself through the arts.  

Have fun in the
Healing Arts Studio
Church alley, Phoenixville, PA

Saturday, May 31  10-5pm   $65.

www.SpiritArts.us    call to register 610-999-5945

Join Lynn for a talk/and SpiritArts experiential sampler on
Wednesday May 14th @ 7pm
at the Phoenix Village Arts Center, 207 Bridge St. Phoenixville, PA

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April Showers Swamp Region, Trigger Flooding

The rains came heavy Tuesday into Wednesday as if all those metaphorical April showers waited until the last day of the month to show up.

It all started when a low-pressure front slinked into the region Tuesday and started dumping rain into the area to the point that by 5:30 p.m. Wednesday, a United States Geological Survey rain gauge along the Schuylkill River had recorded nearly 5 inches of rain in a 24-hour period.

And, as you might expect, the result was creeks bursting their banks — along with the Schuylkill River they ultimately feed — and flooded roads, and then trapping some motorists on those roads after they tried to drive through the water.

One of at least four “water rescues” in the area occurred on Bethel Church Road in East Coventry when a small blue sedan stalled in a deep swell of water on the road.

Read more: http://www.pottsmerc.com/general-news/20140430/april-showers-swamp-region-trigger-flooding

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PhillyDeals: French Building Firm Chooses Malvern For New U.S. HQ

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

John Crowe is the top North American executive for Saint-Gobain, the $55 billion- a-year French construction- materials maker that traces its roots to the group that built Versailles for King Louis XIV. Crowe has been looking for a place to build another palace – in Pennsylvania – as Saint-Gobain’s U.S. base and showroom.

To replace the company’s aging U.S. headquarters near Valley Forge, Crowe scouted sites for “an absolutely spectacular building that will incorporate all aspects of what we know as a building-materials company in terms of energy efficiency and a sustainable, open, collaborative workplace,” he tells me. Plus, a research and development center to replace the old labs in Blue Bell.

The search, extended by the recession, took Saint- Gobain six years. The company plans to announce this week that it has picked a potentially spectacular fixer-upper, an $80 million-plus expansion of the once-innovative but now-rusted and vacant complex built in 1969 by the former National Liberty Life Insurance Co. on 65 acres north of Malvern, close to the new State Route 29 ramp from the Pennsylvania Turnpike.

Read more at http://www.philly.com/philly/business/20140413_PhillyDeals__French_building_firm_chooses_Malvern_for_new_U_S__HQ.html#2pYscMdh5kLGVKze.99

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West Goshen Crowd Boos Sunoco Plan

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

WEST GOSHEN TOWNSHIP, PA – Sunoco Logistics Partners L.L.C. was granted a continuance Thursday night of its zoning hearing regarding a pump station it wants to put in at the corner of Boot Road and Route 202, much to the objection of hundreds of residents.

According to zoning board solicitor Mark Thompson, Sunoco originally appeared before the zoning hearing board three weeks ago and asked for the hearing to be continued to Thursday night. Between the last zoning hearing and Thursday, Sunoco submitted a request for continuance of the hearing. Thompson said he believed the reason for the request was to allow Sunoco time to find out answers to questions raised during the last hearing.

The project in the township, part of Sunoco’s Mariner East pipeline, includes the development of a pump enclosure, piping, valves and a vapor combustion system to be 34-feet high, according to the zoners.

The pump station would be constructed over existing pipelines that Sunoco previously shipped distilled petroleum through. The pipelines would be re-purposed to deliver natural gas liquids from Marcellus Shale areas in western Pennsylvania to the Marcus Hook refinery in Delaware County, Pennsylvania and New Castle County, Delaware.

Read more: http://www.dailylocal.com/general-news/20140404/west-goshen-crowd-boos-sunoco-plan

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Montco Official Says Keim Street Bridge Project Moving Forward

Location of Lower Pottsgrove Township in Montg...

Location of Lower Pottsgrove Township in Montgomery County (Photo credit: Wikipedia)

LOWER POTTSGROVE TOWNSHIP, PA — Not that she needed a reminder that all politics are local, but Montgomery County Commissioner Leslie Richards still remembers one of the first calls she got on the historic night she and Commissioners Chairman Josh Shapiro made history by being the first Democrats to take the majority in 100 years.

“I’ll never forget one of the first calls I got on election night,” she said March 24 as she, Shapiro and Commissioner Bruce Castor conducted the last of their roundtable meetings around the county, this one at the Lower Pottsgrove Township Building.

“I said ‘hello’ and the voice on the other end said ‘so when is the new Keim Street Bridge going to be finished?’”

The answer, she gave Monday, is that the project is “moving forward.”

Read more: http://www.pottsmerc.com/general-news/20140331/montco-official-says-keim-street-bridge-project-moving-forward

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Westtown Manager Bob Layman Replaced Abruptly

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

WESTTOWN TOWNSHIP, PA— Abruptly and without explanation, township supervisors have replaced Township Manager Bob Layman.

“We don’t discuss personnel matters,” said Carol DeWolf, chairwoman of the board of supervisors. “We have handled all of this in executive session as we are allowed to.”

Supervisors declined to comment on the circumstances surrounding Layman’s departure.

According to the township code “the Manager shall be appointed for an indefinite term by a majority of all the members of the Board, shall serve at the pleasure of the Board, and shall be subject to removal by the Board by majority vote. At least 15 days before such removal, the Board shall furnish the Manager with a written statement setting forth its intention to remove the Manager.”

Layman served the township for 11 years.

Read more: http://www.dailylocal.com/general-news/20140330/westtown-manager-bob-layman-replaced-abruptly

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Census: Philadelphia Population Grows Again, But Rate Slows

English: This is my own work, Public Domain Ph...

English: This is my own work, Public Domain Photograph, not copyrighted Ed Yakovich http://www.flickr.com/photos/10396190@N04 (Photo credit: Wikipedia)

Philadelphia’s population rose again last year, albeit at a slower rate than the city’s growth over the past few years, according to Census data released today.

The city’s population as of July 1, 2013, stood at an estimated 1,553,165 people, an increase of 4,518 residents, or 0.29 percent from the previous year. It marks the seventh consecutive year of growth for the city, according to the Census Bureau’s population estimates. So the turnaround continues, but not as dramatically.

Philadelphia saw steep declines in the latter part of the 20th century as it continued to struggle with the loss of its industrial base. That trend continued into the new millennium. Indeed, the city’s population declined every year between 2000 and 2006, losing nearly 26,000 residents during the span. But since 2006, the city has added more than 64,000 people.

The new census numbers, however, suggest that the population rise has slowed. Philadelphia added only about half as many residents in 2013 as it gained in 2011 and 2012. Between 2010 and 2012, the city’s population grew by more than 1.3 percent.

Read more at http://www.philly.com/philly/news/breaking/032714_Census_Philadelphia_population_grows_again_but_rate_slows.html#x6SWWPYwWoS51Kck.99

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Heroin Addict Admits To Chester County Bank Robbery

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

WEST CHESTER, PA – A 23-year-old man addicted to heroin told a Common Pleas Court judge he wants to make a change in his life when the time comes for him to walk out of prison.

Instead of robbing banks to fund his addiction, as Michael Brown pleaded guilty to before Judge Anne Marie Wheatcraft on Tuesday, he would rather find a job that allows him to speak to people dealing with the same problem.

Brown, a high school dropout who had been addicted to heroin for three years, told the judge he would appreciate the chance to tell others just starting on the road to drug addiction about how he had made the same mistake, only to see his life ruined by having to feed his habit, court observers said.

Wheatcraft appeared impressed with Brown’s determination, and in a recommendation to the state Department of Corrections, suggested that he be allowed to serve his prison sentence at SCI Chester, which has an advanced drug rehabilitation program for inmates.

Read more: http://www.dailylocal.com/general-news/20140318/heroin-addict-admits-to-bank-robbery

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Nor’easter Gone, More Snow On Way

The nor’easter that crippled the region yesterday dumped more than 20 inches in parts of Chester County, according to newly revised figures – and a bit more could be on the way for the entire Philadelphia region.

The official National Weather Service reading at the Philadelphia International Airport was 11.5 inches of snow. But totals varied with Birdsboro, Berks County, recording 20 inches, and Allentown, Lehigh County, with 18.8 inches – good news for skiers on a long President’s Day weekend. Closer to the city, West Caln, Chester County recorded 18.7 inches.

New Jersey saw higher amounts farther north, with Florence, Burlington County, seeing 12.7 inches and Washington Township, Gloucester County, seeing 12.7 inches. The shore was largely spared snow.

See storm totals for your area here.

Read more at http://www.philly.com/philly/news/Noreaster_gone_leaves_big_headache.html#OxeMvtAK9VEwllXD.99

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150,000 Peco Customers Still In The Dark In Chester County

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

Update: At 8:45 a.m. Saturday, about 152,000 were still without electricity, according to Peco, down from 715,000 at the outage’s peak. Sixteen percent of the Pennsylvania suburbs remain without power; including 30% in Chester County.

Nearly 40 percent of Chester County remained powerless late Friday, with several communities entirely dark for a third straight night and officials warning that it might be days before all the lights were back on.

Peco, which had more than 5,000 utility workers – half from out of town – clearing downed trees and repairing wires Friday, continued to make progress restoring power, with more than 60,000 customers brought online during the day. At 10 p.m. Friday, about 182,000 were still without electricity, down from 715,000 at the outage’s peak.

Peco ranked the event as the largest winter power outage in its history, second overall to 2012′s Hurricane Sandy.

Read more at http://www.philly.com/philly/news/20140208_Outages_drop__but_some_could_wait_days_for_power.html#4ypvLijq0jDuLQ2M.99

Pottstown Keystone Chapter 565 Vietnam Veterans Of America Receives Donation

482571_233140803532454_34686239_nOur thanks go out to VVA Chester County Chapter 436 for their donation of $1,000.00 to the Memorial Fund for the Pottstown Chapter.  Everyone was very surprised and very grateful. Frank Strunk, Pottstown Chapter president (left) is receiving the check from Ken Schweitzer, Chester County Chapter (right).

The funds will go to help with the upkeep of the memorial and also help with all the services scheduled to start in the spring.

Thanks again guys for the support!!

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