Tag: Portfolio Simplification
Episode Title: Section 351 Exchanges Explained: Simplifying Concentrated Stock Positions with Jack Vogel (Ep. 12)

Episode Title: Section 351 Exchanges Explained: Simplifying Concentrated Stock Positions with Jack Vogel (Ep. 12)

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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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Generational Investments featuring CIO Steve Kolano (Ep. 2)

Generational Investments featuring CIO Steve Kolano (Ep. 2)

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There’s a quiet revolution reshaping how investors build wealth—and it’s not about chasing headlines or hype.

Why are fewer companies going public, and what does that mean for you? What’s really happening under the surface in private credit and equity markets?

In this episode, Rex Berger, Private Wealth Advisor of Generation Capital Advisors, sits down with Steve Kolano, Chief Investment Officer at Integrated Partners, to break down the realities of public versus private investing, why simplification beats complexity, and how private markets are evolving. Together, they unpack what it takes to construct portfolios designed to last for generations.

Key Takeaways:

  • Why most alpha should come from tax and estate planning rather than trying to beat the market [00:10:14]
  • How their “core and explore” philosophy balances efficient index investing with selectively vetted alternatives [00:13:20]
  • The dramatic drop in publicly listed companies since 2000 and the resulting rise of private market opportunities [00:14:40]
  • How market conditions and rising interest rates are forcing private equity firms to focus on long-term operational value over quick exits [00:19:38]
  • The importance of manager selection and due diligence in navigating the private credit and equity space [00:22:00]
  • And more!

Resources:

Connect with Rex Berger: 

Connect with Steve Kolano: 

About Our Guest: 

Steve Kolano brings a deep passion for both financial markets and people to his role, ensuring that every investment strategy he oversees is custom-built to align with each client’s personal vision of success.

He understands that financial markets are complex, dynamic systems, constantly adapting and evolving. People are no different. Each investor carries unique beliefs, perspectives, and goals that shift over time.

Steve’s mission is rooted in understanding the individual first. What drives them? What informs their decision-making? What is their “why”? By uncovering these insights, Steve crafts investment portfolios that are not only tailored to the person but also integrated with their broader financial plans and strategies.

Throughout his career, Steve has come to embrace a critical truth: there is no magic bullet in investing. No secret formula. No one-size-fits-all portfolio.

What sets Steve apart is his process, beginning with a deep understanding of the client and then applying the art and science of investing in pursuit of their specific goals.

In the end, Steve believes the closest thing to a magic bullet in investing is a well-designed, disciplined plan—and the commitment to stick with it.

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