Financial Focus: The Difference Between a Broker and An Advisor

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA PFA

When I graduated with my BA from college in Business Economics, I did what every person did in 1987: got a business entry desk job or a job in Wall Street. Starting on Wall Street from 1992 to 1997, I learned the “hidden secret” about how some can make” a million dollars real quick! Stockbrokers got paid, not based on their advice and expertise, but on the product they sold for a commission. Now is that in someone’s best interest? This was how Wall Street was born in the 1920s, but in the 1970s there was a “no commission” movement.

By DAVID CRUZ

Dear Fellow Readers, The year’s thirteenth edition of the Norwood News is out with plenty of great community news stories to dive into. There’s almost something happening in this corner of the Bronx, and we’ve captured a good chunk of it. And as usual, we’ll start with page one! Our front-page story focuses on more additions slated for the Jerome Avenue Men’s Shelter, which will now see a drug treatment center offered to those not housed at the shelter. Read the story by Jose A. Giralt. Read why the move has irked Community Board 7. Inside the cover you’ll find a piece on a barely

By JOSÉ A. GIRALT

The Bronx shoreline along the Harlem River is poised to undergo a massive change within Community Board 7’s (CB7) borders if developers win approval for their projects. But the city has already said this will be a complicated process. The area just south of the University Heights Bridge was bought for $31.5 million by Dynamic Star, a Connecticut-based developer headed by CEO Gary Segal. Their goal is to invest $3.5 billion in 5 million square feet that will include 2,800 residential units, with 30 percent set aside as affordable. A 700,000 square-foot Life Science Center, esplanades, and a stadium for

Bronx Librarian Recognized for Public Service

By JOSÉ A. GIRALT

At the end of 2017, the Mosholu Library was desperately searching for a children’s librarian to fill two vacancies. After a months long search by the New York Public Library, Bronx borough director Gesille Dixon hired two librarians and received many thanks from appreciative Norwood parents who depend on the library for education beyond regular schooling. For Dixon this was just another day at the office serving the nearly 1.5 million residents of the Bronx. On May 23, Dixon’s dedication to the community was acknowledged with the Fund for the City 2019 Sloan Public Service Award held at the Bronx

State Legislature Passes Rent Reform Laws. How Will This Impact Bronx?

By DAVID CRUZ

New layer of protections to safeguard about 1 million rent stabilized apartments in the city, with a majority of them in the Bronx, have now been hammered out after the State Legislature announced reforms to the state’s existing rent laws. The measure is now headed to Governor Andrew Cuomo’s desk, who announced he will “sign it.” The measures aim to prevent de-regulation of rent stabilized apartments, which are much more affordably priced than market rate apartments priced beyond $2700. Deregulation has long been blamed for aggressive displacement of low-income tenants, a problem that’s very familiar for the Bronx, which is

Norwood Bank Branches Face Pending Closures (Picture)

By DAVID CRUZ

Norwood’s East 204th Street commercial strip is currently home to four banks. By October, that will whittle down to two, making it a little tougher for residents to cash checks, deposit monies, or get a certified bank money order. It also adds to the ongoing trend of a borough that’s unbanked. Two of the banks–the Chase Bank at 311 E. 204th St. and Bank of America at 299 E. 204th St., occupying an baroque-influenced storefront just near Bainbridge Avenue–will close its doors, a move where low foot traffic and relatively closer banks are to blame. Bank of America customers will

By PROF. ANTHONY RIVIECCIO, MBA PFA

By the time you read this, summer school for colleges will begin. Yes, it’s time for college seniors to either make up those last classes, or adults, to continue their education. Myself, I will be spending the summer in the Business Department teaching what I believe will be the most important class that one could take this year: how to lower their tax burden in perpetuity. As I am sure you learned from your 2018 tax preparation, yes, your tax refund was probably lower! Remember, the 2017 tax reform changes effected many new things: lower individual and business tax rates,

By DAVID CRUZ

Williamsbridge Oval Park was the scene once again for the annual Bronx Family Day Olympiad on June 8, with families spending the day involved in several athletic events geared for family bonding. All sorts of games were on hand, and there was a visit by Bronx Borough President Ruben Diaz Jr. Check out these pictures by Miriam Quinones.

Neighborhood Notes: Free Diabetes Workshop

Free Diabetes Workshop Montefiore Health System hosts a free diabetes workshop at the Montefiore Medical Group, 2532 Grand Concourse, third floor conference room, on June 13 from 10 a.m. to 12 p.m. For more information, (866) 996-6683. NYBG Farmers Market The New York Botanical Garden is available for the season every Wednesday, beginning June 12 and into the fall from 9 a.m. to 3 p.m. at the Mosholu Entrace across the street from the Botanical Garden Metro-North station. Locally grown and produced vegetables, fruits, baked goods, and specialty goods will be available. Housing Resource Fair State Sen. Alessandra Biaggi hosts