Valerie-Clark Roden

Alzheimer’s – Resources and Planning for Families, Caretakers and Loved Ones

Alz Photos Mar 10 2015FREE SEMINAR

Radnor Memorial Library, the Winsor Room

March 10, 2015, 6pm

Alzheimer’s – Resources and Planning for Families, Caretakers and Loved Ones

Alzheimer’s disease is the most expensive condition in the nation. In 2014, the direct costs to American society of caring for those with Alzheimer’s will total an estimated $214 billion, including $150 billion in costs to Medicare and Medicaid. Join Hotaling Investment Management and the Alzheimer’s Association on March 10th, 2015, 6pm at the Radnor Memorial Library to learn more about caring for Alzheimer’s patients and the valuable planning tools and resources available for you and your family.

Claire Day, Senior Vice President, Alzheimer’s Association Delaware Valley Chapter – Claire oversees all critical operations and service delivery throughout the Chapter’s 18 county territory. She and her highly trained staff of 22 coordinate and deliver community social services in the form of education, support, advocacy and care management to people with dementia and their families, as well as to professional caregivers.    She has appeared on numerous television and radio programs and has authored two forwards for Alzheimer books: Life Lessons from a Baker’s Dozen, and Lucy’s Tears.  Today, she co-hosts a monthly internet radio program on dementia caregiving.

Eileen J. Paul, CERTIFIED FINANCIAL PLANNER™ –  Eileen has more than 25 years of experience in the financial services industry. She guides clients in all areas of financial planning including retirement planning, cash flow management, investment analysis, minimizing taxation, insuring wealth protection, optimizing charitable gift giving, and defining estate planning. 

SPACE IS LIMITED – RESERVE YOUR SEAT TODAY!   Call Valerie-Clark Roden at 610-688-0697

Merchants Fund of Philadelphia

TMF_logoThe Merchants Fund is a part of the fabric of Philadelphia. As the Chair of the organization’s board, Bruce is extremely proud of the way the Merchants Fund links its resources with neighborhoods and corridors throughout the city to help merchants in need. Its direct grants can breathe new life into a small business in need of help, and create continuity for the owner, the employees, their families and the Philadelphia community as a whole.

The Merchants Fund has a long and proud history in Philadelphia of helping merchants when the chips are down, however circumstances may have led to that point. The resurgence of the food and food related businesses (urban farming, food trucks, neighborhood restaurants, corner groceries) in Philadelphia has taken on a life of its own. The Fund is very involved in this industry as it is so critical in bringing neighborhoods together, and to the attention of the greater community.

Executive Director, Patricia Blakely, is all about Philadelphia. She has her fingers in every pie, and takes great joy in directing the Merchants Fund’s efforts to make a difference to businesses in need.  

Learn more at http://merchantsfund.org/


FREE SEMINAR – Consciously Uncoupling Your Assets & Liabilities, Smart Divorce Planning

Tuesday, October 21, 2014, 6:30 pm

Radnor Memorial Library, the Winsor Room

Samantha Evian, Divorce Attorney, and Eileen Paul, Certified Financial Planner® team up to bring you vital information you need before, during and after your divorce. Learn how to identify and intelligently uncouple your assets and debt and walk away stronger with sustainable investment resources and savings for your new future. Samantha will debunk many of the common divorce myths while Eileen will guide you towards your fiscal independence. Special guest and motivational speaker Pamela Elaine Nichols will share her own, dramatic and ultimately triumphant experience with you.

Samantha Evian is a partner at Obermayer Rebmann Maxwell & Hippel LLC and chairs the Family Law Group.  She has dedicated her career exclusively to representing family law clients of all aspects of matrimonial negotiation and litigation including divorce, support, child custody, alimony, equitable distribution and domestic violence in Pennsylvania, specifically in the five county areas, as well as in New Jersey. Additionally, Samantha has extensive experience with international divorce, custody adoption and pre-nuptial and post-nuptial agreements. Named by Super Lawyers Magazine to the List of Pennsylvania Rising Stars published in Philadelphia magazine, she has also been named in the Suburban Life (Main Line and Montgomery County) and Philadelphia Life Magazines on the Who’s Who list of the best Family Law Attorneys and 2014 Top attorneys list. Samantha graduated from the Temple University James E. Beasley School of Law.  She earned her undergraduate degree from the University of Pennsylvania. 

Eileen J. Paul, CERTIFIED FINANCIAL PLANNER™ -Eileen has more than 25 years of experience in the financial services industry. Through Hotaling Investment Management’s Wealth for Women program, Eileen guides divorcing and divorced women in all areas of financial planning including retirement, cash flow management, investment analysis, minimizing taxation, insuring wealth protection, and defining estate planning. She also works closely with retiring and widowed women through their Wealth for Women outreach. https://hotalingllc.com/financial-planning/

Pamela Elaine Nichols, Inspirational Speaker and Owner of Destined for Greatness Enterprises, Inc. – Pamela Elaine has appeared on several radio and news programs to promote health and well-being for women, particularly mothers. She blends her motherhood and divorce experiences with her healthcare career into a business that teaches women how to create health and happiness in their lives. Pamela Elaine has appeared as a guest on the Dr. Oz Show sharing the story of how she built her business as a healthy way to bounce back from divorce. Pamela Elaine is co-hosting a women’s empowerment show about resilience from divorce on Voice America radio, a leader in online radio. She is a Certified Six Sigma Black Belt (an expert in business process improvement), a triathlete and half-marathoner. 



Back to School

The stock market is no wallflower.  For the month of August, stocks returned 3.77%, as measured by the S&P 500.  This was much to the chagrin of many investors, expecting August to deliver its usual malaise.  While so many were at the beach, the market chugged ahead to close out the month at 2,003.3, an all-time high.

It’s interesting how the S&P 500 is up 9.8% year to date while the “other” benchmark, the Dow Jones Industrial average is only up slightly more than 3%.  Technology, health care and energy stocks are the big sector stalwarts, while telecom, industrials and consumer discretionary have been a drag on portfolios, from a sector attribution perspective.

While the S&P 500 has broken through the 2,000 level, Bespoke Investments points out that only 69% of the stocks in the S&P 500 are above their 50-day moving average.  This somewhat weak breadth may allow room for stock prices to continue to move higher.  Interestingly, among the sectors with the most room for improvement are industrials and technology.  Both are sectors we favor and where we actively scout for new investment ideas.

One distinct difference we are seeing this year versus last is the solid contribution, across the board, from every asset class we utilize in client portfolios.  For example, fixed income is having a notable contribution to returns this year, whereas last year the asset class was a net drag on performance.  MLP’s (master limited partnerships) and REIT’s are also having well above average years.  The REIT’s saw some difficulty last year after the May interest rate spike, and the analysts gave up the ship like lemmings.

One pillar of support for stock prices (or for investors) in addition to strong earnings numbers, has been the steadily improving flow of economic data.  There was favorable commentary from the Federal Reserve Chair Janet Yellen at the Jackson Hole Economic Policy Symposium.  In addition, consumer confidence, durable goods, jobless claims and several other indicators point toward steadily improving economic conditions.  The 2Q GDP came in at 4.2%, above expectations and solidly counter-balancing the poor Q1 numbers. 

There is an implicit,  or “natural” assumption on the part of many investors, and certainly the pundit-crowd that the markets need to make sense.  A daily cause and effect sort of thing, where upon further assessment, we all collectively nod our heads.  The truth is quite the opposite.  The markets are indicators of collective human sentiment and behavior.  Somewhat like an Ouija board, the markets take on the direction of future “events” that are discounted into current price levels and action.

We “go to school” on a daily basis to study the underpinnings of the market’s movements, and more importantly, the components of our investment portfolios.  We use advanced computer software and access huge data bases of every sort for information to help guide our decision making.  Portfolio construction is based upon our blending fundamental analysis, quantitative measures and behavioral analysis.  And, possibly the most critical component of our process is keeping a continuous and careful watch.

                 In my opinion, we need to remain attentive and constructive on the markets as events unfold.  When the market begins to tip down we will want to address the level of “risk” assets we hold.  Until then, it is difficult to follow the lead of the skeptics.   Commentators will mention that we are now pushing into rarified territory.  The current “bull market” at over 930 days long, is more than twice the duration of the average bull market.  This is true, and yet by itself all it means is things have been going well, not that they are about to cave in.

Finally, I am very pleased to announce that Jean M. Rosenbaum has joined our team as Portfolio Manager.  Her role encompasses portfolio construction and equity analysis.  She comes to us after a long and successful career at BlackRock.  She holds the CFA designation and will work with me directing our proprietary equity portfolios.  Please feel free to stop in and say hello.


Bruce Hotaling, CFA

Managing Partner


By Valerie-Clark Roden

Deep thaw is what we need to heal the bruises of winter’s wrath. After this seemingly endless winter I am looking forward to seeing the first colors of spring as the crocuses pop their cheerful, bright purple and yellow cupped petals through the frozen earth to welcome the much-anticipated change of season.

Crocus-e1394760913359The crocus is nature’s promise that we are, finally, seeing the end of the bitter cold. They are the hardiest little plants – enduring the freezing temperatures of winter in order to grow and thrive. Crocuses easily self-propagate and can spread a carpet of blues, whites, purples or yellows across your garden. Honeybees are awakened and lured out of their hives by crocus. And the treasured exotic spice saffron is cultivated from some species.

Squirrels and other little creatures love crocuses as much as we all do. Squirrels, voles and chipmunks like to nibble the bulbs, also called corms, leaving no base from which to grow. With the snow that’s covered my lawn and garden for much of the past 80-some days now receding, I will look to see whether my crocuses survived winter’s hungry gnawing animals. Hopefully the bold little plants will soon be poking their heads up whole with their perennial promise once again announcing the onset of spring.