HOOVER FINANCIAL ADVISORS ADDS INVESTMENT ANAYLIST

Matthew McLaughlin

Malvern, PA – Matthew McLaughlin recently joined Hoover Financial Advisors, P.C. (HFA) as an Investment analyst. His appointment was announced by Pete Hoover, CFP®, founder and CEO of the firm.

In his new position, McLaughlin is responsible for analyses and research relating to client investment portfolios. He also assists with securities transactions, performance measurement, reporting and rebalancing.

Before joining HFA, McLaughlin was a wealth manager for Sage Financial Group in West Conshohocken. Prior to that, he was an analyst in the Market Neutral Hedge Fund of Bryn Mawr Capital Management. His career began at City Of London Investment Management Group’s Philadelphia office in Coatesville.

“Hoover Financial Advisors has an excellent reputation,” says McLaughlin. “It is a young company doing great things, which offers an opportunity for me to grow both professionally and with the firm. It’s a good place to be,” he concludes.

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 investment analysts, staff members include certified financial planners, financial advisors, insurance and tax specialists, attorneys, a certified portfolio manager, 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 http://www.petehoover.com or call 610.651.2777.

HOOVER FINANCIAL NEWS: THOMAS BALIS EARNS APMA® DESIGNATION

Thomas Balis

Malvern, PA – Thomas Balis, an investment manager with Hoover Financial Advisors, PC, recently earned the College for Financial Planning designation of APMA® (Accredited Portfolio Management Advisor). The two-part 150-hour program includes a self-study course, proctored exam and an online graduate course.

To hold the APMA designation, Balis completed a curriculum, which features client assessment and suitability, risk/return, investment objectives, bond and equity portfolios, modern portfolio theory and investor psychology. In addition, hands-on practice elements achieved during the program are analyzing investment policy statements, building portfolios and making asset allocation decisions, such as sell, hold and buy decisions within client portfolios.

“The most important part of the course for me,” says Balis, “is an enhancement of my Investment Policy Statement (IPS) knowledge and how to use its elements as a governing tool while developing client relationships. I now have an academic foundation to help me understand why we, as financial analysts and planners, do what we do. I learned the proper questions to ask to allow us to build right kind of IPS and better understand why we choose one equity index over another. As a result, I feel more qualified to make more effective recommendations for our clients and advance their level of involvement in the investment process,” he concludes.

Hoover Financial Advisors, PC, 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. Earlier this year, HFA was named to the Financial Times 300 Top Registered Investment Advisers. 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 www.http://petehoover.com or call 610.651.2777.

HOOVER FINANCIAL ADVISORS NAMED TO 2016 FINANCIAL TIMES 300 TOP REGISTERED ADVISORS

Pete Hoover accepts Financial Times Top 300 in New York in June.

Malvern, PA – Hoover Financial Advisors, PC was been named to the Financial Times 300 Top Registered Investment Advisers earlier this month (June). The list recognizes top independent RIA firms from across the U.S.

This is the third annual FT 300 list, produced independently by the Financial Times Ltd. in collaboration with Ignites Research, a subsidiary of the FT that provides business intelligence on the investment management industry.

More than 1,500 pre-screened RIA firms were invited to apply for consideration, based on their assets under management (AUM). Applicants that applied were then graded on six criteria: AUM; AUM growth rate; years in existence; advanced industry credentials of the firm’s advisors; online accessibility; and compliance records. Neither the RIA firms nor their employees pay a fee to The Financial Times in exchange for inclusion in the FT 300.

The average FT 300 firm has been in existence for 22 years and manages $2.6 billion in assets.

The 300 top RIAs hail from 34 states and Washington, D.C.

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.

Pennsylvania Pension Funds Could Run Dry In As Little As 10 Years

Without higher contributions from workers and taxpayers, Pennsylvania’s public sector pension plans may not be able to pay for their promises.

And if investment returns fail to live up to expectations, the two pension funds could run dry before the end of the next decade.

Those are the startling conclusions drawn by a pair of researchers at the Mercatus Center, an economic think tank based at George Mason University, which examined Pennsylvania’s Public School Employees Retirement System and the State Employees Retirement System.

The center says PSERS has a 31 percent chance of making it to 2030 with sufficient funding to pay for all the retirement benefits promised to current and former workers, while SERS has only a 16 percent chance of making it that long.

Read more:

http://www.dailylocal.com/general-news/20150419/pennsylvania-pension-funds-could-run-dry-in-as-little-as-10-years

PSERS Investments Exceed Expectations

Taxpayers and public school employees should expect some good news later this year when one of state’s major public pension systems releases its investment returns for the most recent fiscal year.

The state Public School Employees Retirement System, or PSERS, earned nearly 15 percent during the fiscal year that ended on June 30. A press release on the organization’s website Monday revealed the latest findings.

Exceeding the annual investment earnings assumption of 7.5 percent helps to ease the burden of the unfunded liability that must be made up in the future by some combination of future investment returns, contributions from workers and tax dollars.

Read more: http://lancasteronline.com/news/local/psers-investments-exceed-expectations/article_285ee46e-4e4c-11e4-b1be-001a4bcf6878.html

Lancaster General Hospital Surplus Soars After Several Years Of Decline

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

After five straight years of shrinking “profits,” Lancaster County’s biggest nonprofit hospital turned things around last year — due in large part to cost cutting.

Lancaster General Hospital’s surplus, or revenues over expenses, ballooned to $92.6 million in 2012-2013, up 54 percent from the previous year and the highest total since 2007-2008, according to the hospital’s IRS Form 990, released earlier this summer.

The hospital’s parent firm, Lancaster General Health, inched closer to becoming a billion-dollar organization in 2012-2013, with total revenues of $919.8 million and a surplus of $100.7 million.

Read more: http://lancasteronline.com/news/local/lgh-surplus-soars-after-several-years-of-decline/article_2a806084-2f92-11e4-8770-001a4bcf6878.html

Act 47 Cities Elect New Mayors Amid Changes

Map of Pennsylvania, showing major cities and roads (Photo credit: Wikipedia)

HARRISBURG – New mayors have been elected in four large cities under Act 47 status just as lawmakers are giving greater attention to urban fiscal issues.

Election Day brought victories to Democrat Bill Courtright in Scranton, Democrat Bill Peduto in Pittsburgh, Democrat Eric Papenfuse in Harrisburg and Republican Matt Pacifico in Altoona.

The mayors-elect came to office by various routes and campaigned on issues specific to their cities, but once in office they will face common problems with a shrinking tax base, greater demand for municipal services and the skyrocketing cost of unfunded pension obligations for municipal employees.

It could help matters that new elected spokesmen for cities will be on the scene while state lawmakers consider a wave of legislation to help municipalities address financial problems.

Read more: http://citizensvoice.com/news/act-47-cities-elect-new-mayors-amid-changes-1.1582982