Episode Title: Section 351 Exchanges Explained: Simplifying Concentrated Stock Positions with Jack Vogel (Ep. 12)
What do you do when your biggest investment win becomes your biggest portfolio risk?
In this episode of the G360 Wealth Podcast, Sam Diarbakerly sits down with Jack Vogel, Co-CIO of Alpha Architect, to unpack one of the most powerful yet underutilized tools in the tax code: the Section 351 exchange. For investors holding highly appreciated, concentrated stock positions, diversification can feel costly and complicated. Jack walks through how a 351 exchange works, who it may be appropriate for, and how it may help simplify portfolios without immediately triggering capital gains taxes, subject to meeting IRS requirements.
They also explore how this strategy compares to exchange funds and direct indexing, where it fits within a broader wealth plan, and why simplification often leads to better long-term outcomes.
What to expect:
- A clear breakdown of what a Section 351 exchange is and how it works
- The diversification rules required to qualify
- How 351 exchanges compare to exchange funds and direct indexing
- Why simplifying a complex portfolio may improve clarity and coordination
- And more!
Resources:
Connect with Sam Diarbakerly:
Connect with Jack Vogel:
About our Guest:
Jack Vogel is Co-Chief Investment Officer at Alpha Architect, where he oversees investment strategy and ETF development. Since co-founding the firm in 2010, Jack has helped build multiple business lines, including ETF operations, 1042 solutions for ESOP transactions, and Section 351 exchange strategies. His work focuses on delivering disciplined, research-driven investment solutions while helping advisors and investors navigate complex portfolio challenges with greater tax awareness and structural efficiency.
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