In The News
Below, you’ll find links to articles in which our advisors have contributed, firm press releases, and media mentions. Learn more about us by reading our perspective shared in popular publications and articles on topics including wealth management, financial planning, investing, and more.
August 25, 2022
Gene McManus was quoted in the article, 7 Fastest Ways To Save $20K, According To Experts, on opening a savings account and setting up automatic payments. “Have the savings contribution drafted electronically into your savings account before you can spend it,” said McManus, CPA, CFP(R), partner at AP Wealth Management. McManus noted that even though it may seem like painful deprivation at first, it will get easier as you get used to not having those funds to spend.
July 21, 2022
AP Wealth made two announcements regarding its involvement with the Columbia County Chamber of Commerce. AP Wealth Partner and Financial Advisor, Clayton Quamme, CFP®, was named a graduate of Leadership Columbia County Class of 2022. Additionally, AP Wealth participated in the Columbia County Summer Internship Program and was paired with a local student. The Columbia County Chamber of Commerce runs both programs.
(June 27, 2022)
Clayton was quoted in this article, “Why Advisors Are Rethinking The 4% Rule” in Financial Advisor Magazine. Clayton Quamme, partner and financial advisor at AP Wealth Management in Augusta, Ga., points out that retirees tend to spend more in the early years of retirement as they travel and otherwise enjoy their new freedom. They spend less in the middle stage and then more again later as medical expenses increase. “If you understand this, you can effectively plan your retirement to maximize each phase and not run out of money,” he says. To manage such changes wisely, he suggests setting “guardrails” to minimize risks. “Each client’s guardrails will be different,” says Quamme, “based on their mix of retirement income sources and the flexibility in their expenses.”
(June 7, 2022)
AP Wealth Management Announces New Office, Service Expansion to Columbia, SC. Augusta-based financial advisory firm continues its endowment of the Walton Award; and The Treehouse offers a unique client experience. Read the full press release for more details. (4 min read)
April 29, 2022
In collaboration with our operations manager, Sharon Head, CPA, Gene McManus, CFP, CPA, partner and advisor at AP Wealth, was quoted in this article in Business Insider, “I asked financial advisors which credit cards their millionaire and billionaire clients use — and now I know what perks matter to the wealthy.” Gene shares, “The Chase Sapphire Reserve® card has some excellent privileges that the higher net worth client who is, also, a consumer of travel services would find beneficial, and they would meet the financial requirements to be approved for the card.”
(April 4, 2022)
Tom was quoted in this article, “6 Ways Your Lack of Financial Savvy Hurts Your Wallet” in GoBankingRates. The good news is that it’s not too difficult, or too late, to gain some financial common sense. Tom O’Gorman, partner and advisor at AP Wealth Management, said do not enter into any agreement that you do not fully understand. Consider the person who is on the other side of the trade, especially in the case of financial products like annuities and real estate investments. It might be someone who knows more than you do and is trying to sell you, regardless of whether the sale is good for you or not. Reach out to a financial advisor or another financial professional to further discuss any agreements and determine if it’s in your best interest.
(March 23, 2022)
Tom O’Gorman was recently quoted in this article by Heather Taylor in Yahoo! News, “How To Navigate Tricky Financial Situations With Your Siblings.” Tom O’Gorman, a partner at AP Wealth Management, said a common issue is when illiquid assets are part of the inheritance. These include possessions like homes, cars, jewelry, and art. Some siblings may need cash right away and want to sell these assets. Other siblings may want to keep the assets intact.
(March 23, 2022)
Gene McManus of AP Wealth was quoted as an expert by TheStreet’s Brian O’Connell in this update of the article, Follow the Bouncing Market, studying the underlying market conditions this week. “Last year large-cap growth stocks outperformed large-cap value stocks by over 32%,” he explained. “Last year’s winners are often this year’s losers,” McManus added that while investors are likely to be less patient with these stocks given the sentiment shift, there is still promise in many stocks for the future.
(March 22, 2022)
Tom was quoted in this article, “How To Navigate Tricky Financial Situations With Your Siblings” in GoBankingRates. “Face-to-face family meetings should take place so there are no surprises when the will is executed following the parent’s passing,” said Tom O’Gorman of AP Wealth. O’Gorman said the parent leaving the inheritance has a responsibility to have their will written in such a way as to mitigate any possible arguments between siblings. This includes direction as to the disposal of illiquid assets and explanations for any disproportionate allocation to siblings.
(February 22, 2022)
Clayton was quoted as a panelist in this article, “The #1 Money Question to Ask Before Marriage” in Finmasters. “Money conversations can be emotional and tough, so the way you ask a question can make all the difference. You want your partner to feel that you are on their team and not being judgmental as you prepare to manage money together,” says Clayton Quamme of AP Wealth.
(February 15, 2022)
Clayton was quoted in this article, “How To Launch a Get-Rich Plan in Just a Week” in GOBankingRates. Let’s address the elephant in the room: you shouldn’t expect to get rich in a week. You can start getting rich in a week by putting the right systems in place or by starting a new business endeavor, but the wealth-building itself will likely take time. “If you want to start getting rich this week, the best thing you can do is establish automatic savings plans,” says Clayton Quamme, financial planner at AP Wealth Management. Quamme recommends opening a Roth IRA and setting up automatic weekly or monthly deposits into your account.
Gene McManus of AP Wealth was quoted as an expert by TheStreet’s Kevin Curran in this article studying the underlying market conditions this week. He has some advice for antsy investors – keep an eye on the staying power of the current market upturn, as it’s crucial for portfolio positioning.
(February 3, 2022)
Clients often have complex estate planning needs that go behind a financial advisor’s expertise. That’s why some advisors are teaming up with estate planning experts to improve the level of service. “Collaboration is key,” says Clayton Quamme, in “5 Ways Advisors Can Team Up With Estate Planners” in Barron’s. Quamme is a partner at Augusta, Ga.-based AP Wealth Management, who works closely with estate planning attorneys to meet his clients’ needs.
(February 3, 2022)
When it comes to saving $20,000, it’s unlikely that one financial move is going to help you achieve that goal in a short amount of time. According to “7 Fastest Ways To Save $20K, According to Experts” in GoBankingRates, one way to start is to open a savings account and set up automatic contributions. “Have the savings contribution drafted electronically into your savings account before you can spend it,” said Gene McManus, CPA, CFP®, partner at AP Wealth Management. McManus said that even though it may seem like painful deprivation at first, it will get easier as you get used to not having those funds to spend.
(January 27, 2022)
It seems that with each pullback that has hit the market over the past decade, the idea is floated that a real rotation to value from the high-flying growth stocks that have dominated in recent years is imminent. However, against a backdrop of an accommodative Federal Reserve, a strong economy, and low inflation, high-multiple stocks have persisted in pushing higher and leading the market. As these variables augment, there arises a serious question as to whether this time is different. Read this article in TheStreet, Is it Time to Believe in a Value Rotation? that quoted Gene McManus, CFP, managing partner and financial advisor at AP Wealth Management in Augusta, Georgia. “Last year large-cap growth stocks outperformed large-cap value stocks by over 32%,” he explained. “Last year’s winners are often this year’s losers,” McManus added that while investors are likely to be less patient with these stocks given the sentiment shift, there is still promise in many stocks for the future.
(January 13, 2022)
Clayton Quamme of AP Wealth Management was featured in this article, “Experts Say These Are the Money Resolutions You Need To Make in 2022” by Gabrielle Olya. If your goal is to improve your financial situation in 2022, the best way to achieve this is to have some clear-cut, actionable resolutions in place. “If your financial resolution is to maximize your Roth IRA by putting in $6,000, you can break that down into monthly contributions of $500 or, even better, weekly [contributions] of $115,” said Clayton Quamme, CFP, partner and financial advisor at AP Wealth Management in Augusta, Georgia.
(December 12, 2021)
Clayton Quamme of AP Wealth Management was featured in this article, “Holiday Supply Chain Woes? Consider Gifting to 529s Instead” which was initially posted to Nerd Wallet and was picked up by several additional outlets. Clayton discussed the many benefits of giving 529s as gifts, including tax deductions. “Due to federal gift tax limits, one caveat to consider is the size of this gift along with any other gifts to the same recipient or their parents. Unless you’re giving more than $15,000 in 2021, you shouldn’t need to worry. However, if the amount is over $15,000, discuss your gift with your tax and financial advisors first to understand any potential gift tax ramifications.”
Clayton Quamme is quoted in the article, “Will there be a Santa Rally in December 2021?” in Capital.com. The author writes that some believe a Santa Rally is as mythical as the man in red himself. “The Santa Rally is a myth,” argues Quamme, partner and financial advisor at AP Wealth Management. “You don’t have to look back far to find examples of this. December 2018 was a very rough month for the stock market. The S&P 500 fell 11% in December 2018. The market just kept going down all month long. Even Santa could not turn it around.”
Gene was quoted recently in, Inflation may be high but remains manageable by Erica Thompson in Talking Biz News. “Inflation these days is relative. The US has experienced very little inflation over the last ten years. The Federal Reserve (The Fed) has done everything in its power to get the inflation rate up to two percent and has been largely unsuccessful until recently. Many contend that the increase in inflation has very little to do with The Fed’s actions. – Gene McManus, CPA, CFP (Advisor, Managing Partner)
AP Wealth Management Announces New Partners Clayton Quamme and Tom O’Gorman.
AP Wealth Management announced new partnerships within the firm as well as recent Walton Award winners in their recent release, “AP Wealth Management Announces New Partners Clayton Quamme and Tom O’Gorman.” The release details how the firm is sponsoring PGA Tour Champions golfer Scott Parel and is in the process of creating a space called The Treehouse at AP Wealth which includes a golf simulator and a comfortable meeting space for clients and their families.
Outrage Builds Over Expansion of IRS Reach
Gene McManus was quoted in this article by Lee Barney in Newsmax Finance, “Outrage Builds Over Expansion of IRS Reach.” McManus was quoted as saying, “If all transactions above $600 were examined, it would be akin to letting sunlight into a solitary confinement prison cell. Light would show on things that at been in the dark for eons.”
Who Pays for What? How You and Your Partner Can Fairly Split Expenses
Clayton Quamme, a partner at AP Wealth Management was quoted in this piece by Gabrielle Olya, “Who Pays for What? How You and Your Partner Can Fairly Split Expenses” in GoBankingRates.com. “For couples that are starting with a simple [financial] situation, using joint accounts for all income and sharing all expenses is a great strategy to keep things simple. William Shakespeare said it best: ‘What’s mine is yours and what is yours is mine,’” says Quamme.
How Women Can Conquer Their Financial Fears and Anxiety
Clayton Quamme, a partner at AP Wealth Management was quoted in this piece by Gabrielle Olya, “How Women Can Conquer Their Financial Fears & Anxiety“ in GoBankingRates.com. Quamme says, “We are huge proponents of the ‘pay yourself first’ strategy. The idea is that before you pay monthly expenses, you save money first. Most 401(k) plans work like that — you elect to have a percentage taken out of your pay. The money is taken out of your paycheck and put in a separate account for you. If you do not have access to a 401(k), you can set this up yourself with automatic withdrawals from your checking account to a savings or investment account. The more you automate your savings and ‘pay yourself first,’ the better your chances of sticking to a plan.”
What to Do If You Lose Money in Your 401(k)
Clayton Quamme was quoted in this article by Rachel Hartman in US
News and World Report, “What to Do If You Lose Money in Your 401(k).” If
you have made contributions to a 401(k) through your employer, it’s
natural to be concerned about the plan’s performance. “People get scared
when they see account balances start to go down during market
downturns,” says Quamme. “They start to panic and move their money
into cash for safety.” Quamme urges caution. “When you sell during a
downturn, you are making a temporary loss permanent. If you stay
invested, your account balance will go up as the market recovers.
News from the Augusta-area business community: Columbia County Chamber names 2022 Leadership class
Tactics for Building Connections With Clients’ Kids
Clayton Quamme was profiled in this article by Anne Field in WealthManagement.com, “Tactics for Building Connections With Clients’ Kids.” The article focuses on the AP Wealth Management Treehouse and how the golf simulator can be used to foster relationships with clients’ children. The writer also shined a light on how, as a younger advisor on the team, Quamme has been cultivating relationships with the next generation.
Optimism and Client Morale - Post-Pandemic Trends and Projections (WealthManagement.com Midyear Outlook)
Gene McManus and Pat Fair of AP Wealth Management co-wrote this article in WealthManagement.com’s Midyear Outlook, titled “Optimism and Client Morale – Post-Pandemic Trends and Projections“, to discuss their perspective of positive financial trends after the pandemic.
July 29, 2021
Gene McManus was interviewed for this article by Chris Davis regarding investing in precious metals. Gene said that he’s seen claims that precious metals IRAs (which invest in gold and silver instead of stocks and bonds) are a better choice than typical IRAs. He disagrees. “The long-term history and performance of gold and silver do not indicate that they are a rewarding asset class,” he said. “There are short-term periods that they might outperform the S&P 500, but over the long term, they don’t make sense to own, especially exclusively or overweight in a portfolio.”
The 5 Worst Investment Tips on TikTok
Gene McManus was interviewed for this article by Chris Davis of Entrepreneur regarding investing in precious metals. McManus, a CFP, certified public accountant and managing partner at AP Wealth Management, said that he’s seen claims that precious metals IRAs (which invest in gold and silver instead of stocks and bonds) are a better choice than typical IRAs. McManus disagrees. “The long-term history and performance of gold and silver do not indicate that they are a rewarding asset class,” he said. “There are short-term periods that they might outperform the S&P 500, but over the long term, they don’t make sense to own, especially exclusively or overweight in a portfolio.”
A Beginner’s Guide on How and When To Dive Into the Cryptocurrency Market
Clayton Quamme was featured by Casey Bond in her article, “A Beginner’s Guide on How and When To Dive Into the Cryptocurrency Market,” in GOBankingRates regarding cryptocurrency.
According to Quamme, a certified financial planner at AP Wealth Management in Augusta, “Before diving into crypto, make sure you have your financial house in order. There are some fundamental financial principles you should follow when deciding where your next dollar should go — investing in crypto is a good ways down the list.”
Millennial Millionaires Are Getting Rich Off Crypto – Older Generations, Not So Much
Clayton Quamme, a partner and financial planner at AP Wealth Management, notes that older investors who are already millionaires simply don’t need to take the risks involved with investing in crypto in this piece by Gabrielle Olya in GoBankingRates.
“For clients near retirement or in retirement, capital preservation and income are the primary goals for their portfolios,” he said. “They have already become millionaires, so they don’t need to try and hit home runs in their portfolios. Older generations are doing the prudent thing by limiting the amount of high-risk investments to less than 10% in their portfolios.”
A Second-Act Consulting Gig Takes Time and Effort to Succeed. Here Are Some Tips
Clayton Quamme was interviewed by Cheryl Winokur Munk at Barron’s regarding tips on starting a consulting gig in retirement. According to Quamme, a certified financial planner at AP Wealth Management in Augusta, formulating the plan takes time. “It’s a little harder than just looking for another job.”
Gene McManus of AP Wealth: How To Successfully Ride The Emotional Highs & Lows Of Being An Entrepreneur
Gene McManus of AP Wealth was profiled in Authority Magazine. Being a founder, entrepreneur, or business owner can have many exciting and thrilling moments. But it is also punctuated with periods of doubt, slump, and anxiety. So how does one successfully and healthily ride the highs and lows of Entrepreneurship? In this series, called “How To Successfully Ride The Emotional Highs & Lows Of Being An Entrepreneur” we talked to successful entrepreneurs who can share stories from their experience. Here is the interview of Gene McManus, AP Wealth Management, in Augusta, GA.
What are Dividends, and How Can You Tell What Dividend a Company Is Paying?
Tom O’Gorman of AP Wealth was quoted in this article on NextAdvisor, in partnership with TIME, titled “Dividends, and How Can You Tell What Dividend a Company Is Paying?” O’Gorman provides insights on benefits and drawbacks of dividend stocks. “Dividend stocks have traditionally been for more senior investors, who are looking toward income in retirement years and frankly sometimes people live off dividends in retirement years.” However, these stocks aren’t without risk. “If a company runs into financial hard times and they can no longer pay the dividend, that price is going to drop quickly,” warns O’Gorman
Where is Currency in Crypto?
Bitcoin and other cryptocurrencies continue to dominate the headlines and prices seem to fluctuate more in line with Elon Musk’s latest tweets rather than changes in the underlying fundamental value, whatever that may be. Clients rarely call to inquire about investing in traditional currencies, so why are cryptocurrencies suddenly top of mind for so many investors? Tom O’Gorman of AP Wealth explores that topic in this article, “Where is Currency in Crypto?” in Business Digest Magazine.