HOOVER FINANCIAL ADVISORS EXPANDS OFFICE SPACE

PHOTO CAPTION: Hoover Financial Advisors, P.C. offices on Moores Road, Malvern.

Malvern, PA – Hoover Financial Advisors, P.C. opened 2016 with larger quarters to accommodate its growing staff. “We were beginning to get a bit too comfortably close,” says HFA founder and CEO Pete Hoover with a laugh. “We love the Moores Road architecture and relocation was not an option we wished to consider. When space became available in our building, we jumped at the chance to expand.”

The expansion gives HFA an additional 2,080 square feet for a total of 5,368. First and second floor conference rooms are now each a sweeping 375 square feet with ample room for large meetings, work sessions and small special events. The lower level conference area is enhanced with a 65-inch flat screen television set.

HFA, which is headquartered on Moores Road in Malvern, was launched in 2005 by Pete Hoover, who has been an independent financial advisor for more than 30 years. Since its inception, HFA has quadrupled in size. Staff members include certified financial planners, financial advisors, investment analysts, insurance and tax specialists, attorneys, a certified portfolio manager, and an information services manager. In 2012, HFA was selected as 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.

HOOVER FINANCIAL ADVISORS MEETS FALL FUNDS FOR FOOD GOAL

Malvern, PA – Each year, Hoover Financial Advisors, PC, conducts a Fall Funds for Food campaign to benefit Chester County Food Bank. Last year, HFA set a goal to raise $10,000 and actually brought in $12, 500. This year, the financial planning firm presented $15,000 to the local food bank. “With generous help from our clients, staff, vendors and colleagues, we reached our 2015 goal,” says Pete Hoover, CFP®, HFA president. “With each dollar contributed, the food bank can provide four meals or five pounds of non-perishable food.”

Chester County Food Bank stores and distributes food to more than 30 area food cupboards and 60 other meal sites and agencies at no charge. Since its inception in 2009, it has provided the equivalent of 1.7 million meals. In addition to raising money for the food bank, HFA provides sweat equity. Earlier this year, staff members worked in the kitchen at its Exton headquarters and at Charlestown Farm in Phoenixville. Last year HFA packed produce boxes and in past years, it pulled weeds and filled backpacks.

“It has been an interesting year,” notes Hoover. “Employment is up, always a good sign. Yet, there are over 70,000 households in Chester County Food Bank’s reach that do not have enough to feed their families. We are committed to helping these people, particularly as the holiday season approaches. It felt good to make our fundraising goal.”

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 quadrupled 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 petehoover.com or call 610.651.2777. To learn about Chester County Food Bank, call 610.873.6000 or go to http://www.chestercountyfoodbank.org.

A FAMILY MEETING CAN PREVENT FUTURE FRENZY AND FRICTION

Malvern, PA – “We frequently see a troubling situation that can easily be prevented,” says Phil Gagliardi, CPM, a planner with Hoover Financial Advisors. “A frantic call comes in from one of our client’s children. Their parent is very ill and no longer able to manage personal and financial affairs. None of the children know where any of the estate documents are located, nor do they even know the wishes of their parents.”

The dilemma is not uncommon. Generally, parents don’t want to burden their children with such issues. They sincerely believe things will work out because they took appropriate steps to put necessary plans in place. They have the will/trust, durable power of attorney and all beneficiary designations are proper. However, that is rarely enough. Communicating investment and tax planning strategy as well as ultimate hopes and requirements to the next generation is equally as important as having the documents prepared.

A family meeting is a valuable tool to ensure peace of mind and avoid friction in time of crisis. Everyone involved can ask questions and reach an appropriate level of understanding, which will help prepare children and loved ones if older family members are unable to manage their affairs. They will be ready and not burdened with an extra layer of complexity. Another benefit of this meeting is to build a relationship between outside financial advisors and family members to maintain a level of knowledge and comfort. Gagliardi offers suggestions gleaned from an article at http://www.EstatePlanning.com noting a few components and benefits of the family meeting:

1. Ask your estate planning attorney and financial advisor to be there to explain how your plan will work and why decisions were made.

2. Choose a date and time that is convenient for everyone and a place that is appropriate. The room should encourage discussion but also convey the seriousness of the meeting. Have a beginning and ending time.

3. Make a list of topics to cover. This meeting should be a general explanation of what parents have planned and why, in order to prepare family members for what they can expect and may need to do in the future. Encourage questions and discussion.

4. It is important to give children some idea of the size of any inheritance they may receive. With people living longer and long-term care expenses often lasting for years, there may be little to pass on. If the inheritance is large, it is be better to give them a realistic picture now rather than later. It is helpful to prepare a child for a sizeable inheritance so they don’t go on a spending spree, fall prey to a scam, or be afraid to use the money at all. Some people prefer to keep their wealth a secret, but it should be discussed, especially if there may be controversial issues.

More comprehensive details can be found on Gagliardi’s blog on Hoover Financial Advisors website (http://www.petehoover.com).

Gagliardi joined HFA four years ago. Prior to that, he was a trust officer with Charles Schwab Bank in Wilmington, Delaware. He is one of only 350 individuals in the U.S. to earn a Certified Portfolio Manager® designation. The planner holds a master’s degree in taxation and financial planning from Widener University.

HFA, founded by Pete Hoover, CFP® in 2005, has quadrupled in size since its inception. The firm was selected as the 2012 Small Business of the Year by Chester County Chamber of Business & Industry and the year before it was named among the top financial planners in the Philadelphia region. Headquartered on Moores Road in Malvern, HFA is an independent discretionary firm with no product ties. Services include wealth management, cash flow management, estate planning, retirement planning, financial forecasting, plan preparation and implementation, income tax strategies, insurance solutions and management of financial needs after the death of a loved one. For further information, visit the firm’s website at http://www.petehoover.com or call 610.651.2777.

HOOVER FINANCIAL ADVISORS EXCEEDS FUNDS FOR FOOD GOAL

Larry Welsch, Chester County Food Bank executive director, is all smiles as he accepts a check from Hoover Financial Advisors. Shown with Welsch (l to r) are Pete Hoover, Beth Hoover and Kelly Hoover.

Malvern, PA – Hoover Financial Advisors completed its fall Funds for Food campaign by raising     $12, 500 for Chester County Food Bank. The goal was $10,000. “We couldn’t be happier to exceed our original plan,” says Pete Hoover, CFP, president and founder of HFA. “The holidays can be tough for families who don’t have enough to eat. The Food Bank reports that more than 50,000 residents of Chester County are food-insecure. Last year, it distributed over 2.6 million pounds of food, including 800, 000 pounds of fresh produce, to 100 food cupboards. We are very pleased to be able to help and thank all our clients and business colleagues who contributed so generously to the fund-raising campaign.”

“Hoover Financial Advisors has been a wonderful partner to Chester County Food Bank, says executive director Larry Welsch. “The company supports us with both monetary contributions and through volunteering. HFA has hosted fund drives among its clients to strengthen this support. We are so very fortunate to have corporations like HFA, who are not only supportive of the efforts of the Food Bank, but are also genuinely committed to the Chester County community. HFA is a true ambassador of Chester County Food Bank,” concludes Welsch.

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 tripled in size. Employees include client relationship managers, financial planners, insurance and tax specialists, investment analyst and an information services manager. Two years ago, HFA was selected as 2012 Small Business of the Year by Chester County Chamber of Business & Industry. For more details, visit its website at petehoover.com or call 610.651.2777. Go to ChesterCountyfoodbank.org for Chester County Food Bank information.

Hoover Financial Advisors’ Philip Gagliardi Earns Prestigious Destination

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.