News and Commentary

Well as they say, “there are books where the front and back cover are the best parts”. As we mentioned last quarter and throughout this quarter, the tariff headline was the catalyst to a needed correction and our portfolio strategies again would “weather the market storm”. We are pleased that all our clients maintained their gameplan and were rewarded for the quarter. The S&P 500 was up nearly 7%, the international index EAFE was up over 9% though, and fixed income AGG ETF was down nearly 1%. It was a “risk-on” quarter once the correction ended and now valuations in the U.S. markets look a bit frothy. Many factors will influence the next move to new highs in the markets…will the Fed cut rates in September? Will earnings for Q2 beat estimates? We continue to see value in diversification outside the tradition U.S. indexes and will appropriately share and allocate our value-added strategies into our Private Client portfolios.  On side note, we continue to find higher yielding money markets, CD’s, and fixed income vs banks…just email us. Be on the look-out for our team videos coming out on social media! See here for more details on the 2nd quarter: Q2 Market ReviewSWM Team News:Jeff celebrated his birthday in Dublin Ireland with a group of good friends and clients. Clarke’s summer is off to a great start with a trip to Janney’s home office in Philadelphia to hear about new products and services coming soon for clients. He also spent some time at Lake Oconee with good friends and wrapped up the quarter with a birthday trip to Florida with Laura to celebrate turning 40.Kevin has been busy outside of the office coaching his kids at NYO in baseball and softball throughout the Spring and early summer months – in fact his daughter recently made the 8U All-Star team. Additionally, both of his kids just completed a stellar swim team season and were major contributors to the Capital City Club Waves championship season. His family also celebrated his daughter’s First Communion at Christ the King Cathedral with family and friends.Caroline and her family welcomed her 2nd nephew, Knox, in April of 2025. Disclosure: This is being provided solely for informational and illustrative purposes, is not an offer to sell or a solicitation of an offer to buy any securities. The information provided here is taken from sources that we believe to be reliable but is not guaranteed as to accuracy or completeness. Opinions expressed are subject to change without notice and do not consider the particular investment objectives, financial situation or needs of individual investors. Past performance is not indicative of future results, and future returns are not guaranteed. There are risks associated with investing, such as a loss of original capital or a decrease in the value of your investment. Employees of Janney Montgomery Scott LLC or its affiliates may, at times, release written or oral commentary, technical analysis or trading strategies that differ from the opinions expressed here.

April 2025 Quarterly Update

Friends, Coming into my 31st year as a Financial Advisor, market trends and opportunities begin to look similar as if I’ve read this book before. What a year we had in 2024 and very unexpected by most advisors and investors-we got a “soft landing” economically!  I believe 2025 is shaping up to be a year of earnings growth, Fed cuts, and potential volatility, with a new but familiar administration in office. This could be the year of “active” managers, and we may see earnings accelerate. Time will tell and we will continue striving to meet your goals and our obligations to your as your trusted advisors. See here for more details on Q4: Market Review 2024SWM NEWS: Jeff and SWM were once again named to the CEO Roundtable at Janney, reflecting the top 15% of the company’s Financial Advisors. Jeff and Michele visited the island of Aruba over the holiday: Caroline spent time with family over the holidays and enjoyed cheering on the Dawgs in Q4. She is busy studying for her security licenses in Q1.Clarke and Laura enjoyed the holiday season by hosting family members for a memorable and excessively filling Thanksgiving celebration. This year, they also ventured into new territory by participating in a turkey trot—despite earlier promises to avoid such endeavors. Pictured below, they pause to rehydrate after their spirited effort.For Kevin, 2024 ended with a number of highlights for he and his family. Coaching his son’s first season of flag football all the way to the NYO semi-finals……Coaching his daughter’s NYO softball team and watching her being awarded team captain by her teammates. Holiday’s were filled with memories that last a lifetime.