Hoover Financial Advisors Fundraising Results For Chester County Food Bank

Malvern, PA – In 2012, Hoover Financial Advisors, PC, selected Chester County Food Bank as its charity of record. Each autumn it holds a Fall Funds for Food campaign to raise money for the food bank before the holidays. With participation from employees, clients and business colleagues HFA has brought in close to $50,000 since 2012.

At a recent check presentation, Pete Hoover, HFA founder and CEO, contributed $15,000 to the local food bank on behalf of HFA and its clients. “At this time of year, we look forward to upcoming holidays and many wonderful family dinners,” says Hoover. “What we too often overlook is the fact there are thousands of people who are unable to gather around the table and enjoy a delicious meal. Not in Chester County, you may say. Sadly, the fact is one in 14 people in the wealthiest county in Pennsylvania lack reliable access to a sufficient quantity of affordable nutritious food. HFA hopes to make the upcoming months brighter for these families.”

In addition to financial donations, this summer HFA’s staff created food boxes for kids and picked tomatoes at Pete’s Produce Farm. For each dollar donated by financial planning firm, Chester County Food Bank can provide four meals or five pounds of food. Since its inception in 2009, it has provided the equivalent of 1.7 million meals. Eighty-nine percent of the food bank’s operating budget supports the hungry.

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. This year, HFA PC was named to the Financial Times 300 Top Registered Investment Advisers list. In 2012, it was selected as 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 chestercountyfoodbank.org.

HOOVER FINANCIAL ADVISORS ADDS INVESTMENT ANALYST

Thomas Balis

Malvern, PA – Thomas Balis, a highly experienced financial services professional, recently joined Hoover Financial Advisors, PC (HFA), as an investment analyst. His appointment was announced by Pete Hoover, president and CEO of the firm.

Prior to HFA, Balis managed 21 H&R Block retail tax offices in Orlando, Florida. Before that, he was first vice president, district manager for 16 JP Morgan Chase Bank branches in Tampa. He and his family relocated to King of Prussia earlier this year and he worked as a part-time consultant for HFA. His background, investment expertise and keen analytical skills prompted Hoover to create a permanent position for the value-driven analyst. He holds a bachelor’s of science degree in Business Administration from Ohio State University.

Balis’ responsibilities include reviewing assets of HFA clients and recommending how to best allocate their money. “We are pleased to have Thomas on the team,” remarks Hoover. “His skills and knowledge of finance and banking promise to be rewarding for HFA clients.”

“I’m thrilled with this opportunity,” says Balis. “Working with a team of high caliber experts is invigorating. The diversity of talent is top notch. In many financial planning firms, clients don’t have such a range of services. Only one slice of the business is available. At HFA, everything from tax advice to insurance counsel and more is under one roof.”

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. In addition to the new investment analyst, employees include certified financial planners, financial advisors, 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 ADDS CFP®

Malvern, PA – Sara A. Nelb, CFP® recently joined Hoover Financial Advisors (HFA). Her appointment as a financial planner was announced by Peter K. Hoover, president and founder of the firm.

In her new position, Nelb will work with HFA clients to help them manage and maintain financial plans and achieve their singular goals. Prior to joining HFA, she was senior investment officer at The Haverford Trust Company in Radnor. Before that, Nelb held various positions at QVC in West Chester, including business analyst for Sales and Product Planning.

Nelb, who holds a B. S. degree in Business Administration from Drexel University, graduated magna cum laude. She is a member of the Financial Planning Association and holds a FINRA Series 65 license. She is also a past participant of Business on Board for the Arts & Business Council in Philadelphia. The CFP is a resident of Radnor.

“I’m excited to be part of the financial planning process,” says Nelb. “To work with a great team and contribute to the process that helps clients reach distinctive objectives is rewarding.” “It’s rewarding for HFA to have Sara on board,” adds Hoover. “Our company is celebrating our 10^th anniversary this year. We opened with one CFP. With the addition of Sara, we now have three.”

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. In addition to the CFPs, employees include financial advisors, insurance and tax specialists, attorneys, an investment analyst, 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 petehoover.com or call 610.651.2777.

BNY Mellon Posts Third-Quarter Earnings Of $1.07 Billion

Bank of New York Mellon Corp. posted a third-quarter profit of $1.07 billion, or 93 cents per share, up from $962 million, or 82 cents per share, during the same quarter a year earlier.

Read more: http://www.post-gazette.com/business/2014/10/17/BNY-Mellon-posts-third-quarter-earnings-of-1-07-billion-Pittsburgh/stories/201410170178

HOOVER FINANCIAL ADVISORS STAFF VOLUNTEERS AT CHESTER COUNTY FOOD BANK

Shown left to right at the Food Bank warehouse are: Gail Coxe; Kelly Hoover; Phil Gagliardi; Carol Olver; Pete Hoover; Jerry Fahey; Beth Hoover; and Tim Curvan.

It was a wonderful day for the Hoover Financial Advisors staff. Employees donated a day of service to work at the Food Bank’s new location on Pennsylvania Drive in Exton. Splitting into two shifts, the group repackaged vegetable, including onions, lettuce, beets, celery and cabbage. HFA adopted Chester County Food Bank as its charity of record last year. The Malvern-based financial planning company will hold a fundraising campaign this fall.

“Hoover Financial Advisors is a terrific asset to the efforts of the Chester County Food through its support in three-fold giving with food donations, monetary support and volunteering,” says Phoebe Kitson-Davis, manager for Agency and Community Partnerships. “HFA has hosted fund drives amongst its clients to strengthen giving for the Food Bank, packed food boxes in our warehouse, helped in our farm fields and held food drives. We are very appreciative. Hoover Financial Advisors is a true ambassador of the Chester County Food Bank.”

Changing Skyline: Is ‘Over-Success’ In Development Hurting Philadelphia?

English: 1616 Walnut Street Building in Philadelphia. On NRHP since October 17, 1983 1616 Walnut Street in Rittenhouse Square East neighborhood of Center City. (Photo credit: Wikipedia)

It wasn’t long ago that Philadelphia’s movers and shakers were lamenting that the city was being ignored by international retailers. Those chains finally discovered the city, and now they’re colonizing the shopping districts around Rittenhouse Square and the West Philadelphia universities at a stunning pace. Sometimes, the only way to be sure you’re not at the King of Prussia Mall is to look up at the sky.

Having gotten what it wished for, the city is starting to feel the first side effects of what New York urbanist Kent Barwick, former head of the Municipal Arts Society, identified as “the over-successful city.”

This may sound like an odd worry in a town that looks over its shoulder and still sees Detroit. It’s certainly great that the chains help draw throngs to Walnut and Chestnut Streets again. They’ve brought their stylish displays and uncovered the dormant charms of many old commercial buildings. Yet, there is a numbing sameness to much of the retail. You’ve seen identical mannequins in identical outfits perched in windows on New York’s Fifth Avenue, Boston’s Newbury Street, and Chicago’s Michigan Avenue.

Read more at http://www.philly.com/philly/columnists/inga_saffron/20140711_Is__over-success__in_development_hurting_Phila__.html#OwFqlzCPsHwibjmA.99

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.

Nearby Businesses Can’t Escape Effects As PNC Tower Goes Up In Downtown Pittsburgh

Locator map with the Central Business District neighborhood in Pittsburgh, Pennsylvania highlighted. (Photo credit: Wikipedia)

As a $400 million project to build PNC Financial Services Group’s new corporate headquarters nears the midpoint, surrounding business owners are anxiously awaiting completion of Downtown’s biggest skyscraper in more than a quarter-century.

Some look forward to an anticipated boost in business. Others long for their misery to end.

“It’s tough to complain about progress, but this project has definitely been a struggle for us,” said Rob Kania, owner of Metropolitan Preschool & Nursery, which runs a Fifth Avenue facility in the shadow of the project.

Most agree The Tower at PNC Plaza will become a jewel in the city’s skyline. PNC hopes it will be the world’s most environmentally friendly office building.

Read more: http://triblive.com/news/allegheny/6233934-74/pnc-project-tower#ixzz34AFlxv00
Follow us: @triblive on Twitter | triblive on Facebook

National Penn Bancshares Holds Grand Opening At New Allentown Headquarters

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

For the first time in nearly 35 years, a bank has established its headquarters in the city of Allentown.

More than 500 people today attended the grand opening and ribbon-cutting of National Penn Bancshares’ new headquarters in the 11-story Two City Center in the city’s downtown neighborhood.

Mayor Ed Pawlowski said it was more than simply a new business moving into the city but rather a showing of confidence in the ongoing revitalization of Allentown.

“We really appreciate the confidence you’ve put in us, and for bringing Allentown back to a central point for being a place of commerce and activity for the entire region,” Pawlowski told representatives of the bank.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/04/national_penn_bancshares_holds.html

PNC Shrinks Branch Network

PNC Bank shrunk its branch network by 160 offices last year, the most of any bank nationwide except for Bank of America, an analysis released Monday by SNL Financial found.

Collectively, banks cut their branch total by 1,487 locations in 2013, SNL said, as the industry contended with persistently low interest rates, slow loan growth and escalating costs.

Lenders large and small “grappled with weak revenue growth and heavy [regulatory] compliance costs that are motivating them to reduce the fixed expenses tied to large branch networks,” said SNL, a Charlottesville, Va.-based research firm.

PNC, Pittsburgh’s dominant bank and the eighth biggest nationwide, closed 182 branches and opened 22 others across its 19-state footprint in 2013 for a net loss of 160, SNL said. Bank of America, the nation’s second-biggest bank, had a net loss of 189 branches.

Read more: http://www.post-gazette.com/business/2014/01/28/PNC-shrinks-branch-network/stories/201401280041#ixzz2rjqmajiY

Wilkes-Barre’s Credit Rating Is Upgraded

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

WILKES-BARRE. PA — Mayor Tom Leighton is touting the city’s new “positive outlook” rating from a national credit rating company, and representatives of a local bond broker and financial services company say the city has reason to celebrate.

Standard & Poor’s Rating Services revised its outlook on the city’s outstanding general obligation bonds from A- negative to A- positive, according to a recently released S&P report.

It’s noteworthy, the mayor says, because “it saves taxpayers hundreds of thousands of dollars and allows us the flexibility to invest in our city, improve our infrastructure and create jobs for our citizens.”

Pete Shelp, a certified financial planner at Janney Montgomery Scott, a stock and bond brokerage and financial services firm in Kingston, said Thursday a higher credit rating could save the city considerable cash.

Read more: http://timesleader.com/news/local-news/1026124/Wilkes-Barres-credit-rating-is-upgraded

Pottstown National Penn Bank Robbed Again

Location of Pottstown in Montgomery County (Photo credit: Wikipedia)

Editor’s note:  Just another day in delusional paradise for Pottstown’s leadership who think there isn’t a crime problem.

POTTSTOWN, PA — Police are investigating a bank robbery which allegedly occurred late Tuesday afternoon

The National Penn Bank branch at the intersection of East High and North Franklin streets closed around 4 p.m. after it was reportedly robbed.

An active investigation was ongoing around 5 p.m. and Pottstown Police did not divulge a suspect or a description.

Read more:  http://www.pottsmerc.com/general-news/20130917/pottstown-national-penn-bank-robbed-again

Savings Slow In Reading Purge Of Insurance Rolls

A 1947 topographic map of the Reading, Pennsylvania area. (Photo credit: Wikipedia)

The city had budgeted savings of nearly $900,000 this year by purging its health insurance rolls of ineligible employees, dependents and police retirees.

It also budgeted a contingency fund of $980,000, if the purges didn’t go as planned.

They haven’t.

Managing Director Carole B. Snyder said the city has seen little savings so far because the police retiree purge got bogged down in arbitration and in complex evaluations that may not be complete by year’s end.

Read more: http://readingeagle.com/article.aspx?id=505866

Harrisburg Debt Announcement Leaves Public Wanting More

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

HARRISBURG – State officials generated a full house Wednesday morning with emails hinting at big news related to the city’s financial recovery.

And many the people boosting the typically sparse attendance – Harrisburg residents, reporters, elected and appointed officials – seemed underwhelmed by what they heard at the Municipal Financial Recovery Advisory Committee’s meeting in City Hall in Harrisburg.

Few numbers, no documents, scant detail – all of that is to come, likely by mid-August when debt resolutions deals are filed in court.

Instead, the point was to broadcast an attitude adjustment among stakeholders involved in negotiations to resolve more than $600 million in debt, state-appointed receiver William Lynch said.

Read more:  http://www.pennlive.com/midstate/index.ssf/2013/07/harrisburg_debt_announcement_l.html#incart_m-rpt-1

Children’s Hospital Of Philadelphia Gets $50 Million Gift For Advanced Care Center

Children’s Hospital of Philadelphia will announce on Tuesday its biggest gift ever: $50 million toward the $425 million cost of an outpatient center rising on the institution’s University City campus.

The Buerger Center for Advanced Pediatric Care, named for a family that owns a Fort Washington financial-services firm, will become the hub for complex outpatient care in the hospital’s network in Southeastern Pennsylvania and New Jersey.

The donation is part of a $100 million capital campaign to help pay for the facility, expected to open in 2015. Remaining costs will be paid through additional philanthropy and money from operations.

Spearheading the family’s gift was Reid Buerger, who said his view of Children’s, frequently ranked among the best of its kind nationally, took on deeper significance when he was looking forward to fatherhood several years ago.

Read more at http://www.philly.com/philly/business/20130625_Children_s_Hospital_gets__50_million_gift_for_center.html#d5XYbYJiCEFCdIaI.99

PNC Bank To Close 10 Branches In Pittsburgh Region

PNC Bank will close 10 more branches in the region within the next 90 days as part of an effort to cut costs and focus on serving customers who increasingly are banking online and via smartphones.

The closures, which include the last remaining bank branch in the city of Clairton, come on top of four other branches shuttered earlier in the year.

Spokeswoman Marcey Zwiebel declined to say how many more branches in the region might be closed this year, saying decisions beyond 90 days may not be final.

Pittsburgh‘s biggest bank has said it planned to close about 200 branches this year across its footprint in 19 states and Washington, D.C., which is about 7 percent of its network of roughly 2,900 offices.  The bank closed 65 branches last year.

Read more: http://www.post-gazette.com/stories/business/news/pnc-bank-to-close-10-branches-in-region-687669/#ixzz2TQEP42Sq

PNC Forecasts Strong 2013 For Pittsburgh Region

Locator map of the Greater Pittsburgh metro area in the western part of the of . Red denotes the Pittsburgh Metropolitan Statistical Area, and yellow denotes the New Castle Micropolitan Statistical Area, which is included in the Pittsburgh-New Castle CSA. (Photo credit: Wikipedia)

The Pittsburgh regional economy, which snapped back from the recession early but stalled in 2012, is poised to head higher again this year, according to forecasters at PNC Financial Services Group.

A reviving national economy will provide the oomph needed to reignite growth locally, PNC economist Kurt Rankin said in an interview.

The Pittsburgh region experienced above average growth in the first two years of the economic recovery in 2010 and 2011, but hit a lull the middle of last year.

Pittsburghers were more willing to spend coming out of the recession than consumers in many other regions because the local economy did not fall as far, but that willingness has been fully tapped, Mr. Rankin said.

Read more: http://www.post-gazette.com/stories/business/news/pnc-forecasts-strong-2013-for-pittsburgh-region-679225/#ixzz2NYkffzC6

Arbitrators Slash Newer Reading Police Officers’ Pay, Benefits

A 1947 topographic map of the Reading, Pennsylvania area. (Photo credit: Wikipedia)

City police, especially those hired this year and in the future, will take major pay and benefit cuts now and when they retire, according to a five-year contract handed down Friday by a panel of arbitrators.

The panel froze officers’ salaries and step increases for three years and cut starting salaries, vacation time and sick leave in the new contract, which is retroactive to January 2012.

In setting the terms, the panel followed the city’s Act 47 financial recovery plan to cut millions of dollars a year from police costs.

For employees hired before the old contract expired at the end of 2011, the panel kept that contract’s pension benefits – up to 70 percent of working salaries, the ability to buy years of service to raise that pension, and city-paid retiree health insurance.

Read more: http://readingeagle.com/article.aspx?id=428754

Fulton Bank’s Expansion Grows By 75 Percent

Plans for Fulton Bank‘s expansion near Lancaster‘s Penn Square may have been delayed by two years, but those plans have also increased in size by 75 percent.

The county’s largest bank now plans an eight-story office building, with a two-level underground parking garage at 23 E. King St.

Project planners on Tuesday provided no cost estimate for the 159.000-square-foot building which will replace the former Sovereign Bank building now on the site.

The building was originally slated for completion in 2013.  In May, Fulton announced it would be begin construction next spring of a 91,000-square-foot, six story building that was due to be completed in spring 2015.

Read more: http://lancasteronline.com/article/local/728196_Fulton-Bank-s-expansion-grows-by-75-percent.html#ixzz25t5BQYml

Hartford Reports $101 Million Loss

English: The skyline of Hartford, Connecticut, USA as seen from across the Connecticut River (Photo credit: Wikipedia)

Bloomberg – Hartford Financial Services, Inc., which employs more than 1,000 workers at an Upper Macungie Township call center, posted a second-quarter loss on the cost of retiring investments made by Allianz SE.

The net loss of $101 million, or 26 cents a share, compares with profit of $33 million, or 5 cents, a year earlier, according to a statement today from Hartford, an insurer based in the Connecticut city of the same name.  Chief Executive Officer Liam McGee struck a deal in April to pay about $2.4 billion to buy back debt and warrants that were issued to Allianz.

McGee is counting on profit from property and casualty policies as the insurer shrinks life operations.  He reached a deal in April to sell an annuities-distribution business and an agreement yesterday for American International Group Inc. to buy Woodbury Financial Services.

“Selling Woodbury is a favorable sign that Hartford is making progress on its divestiture plans,” Meyer Shields, an analyst at Stifel Nicolaus & Co., said in a note today.  “Individual life and retirement plans will probably be more difficult to get done,” and those deals may be necessary to push the stock above $20 a share, he wrote.

Read more: http://www.mcall.com/business/mc-hartford-financial-20120802,0,62163.story