Managing a concentrated stock position or preparing for a significant tax year can create complex planning decisions. This episode outlines a practical framework for using direct indexing to support diversification, reduce concentrated exposure, and prepare for liquidity events in a controlled and tax-aware way.

Rex Berger speaks with Jeff Murphy, Market Leader at Invesco, about how direct indexing works and why it has become a useful approach for handling concentrated stock, navigating equity-based compensation, and identifying tax opportunities within a portfolio. They discuss the differences between long-only and long-short structures, how tax loss harvesting functions in real portfolios, and how tracking error fits into overall portfolio design. The conversation includes examples relevant to business owners, corporate executives, and families managing long-term embedded gains.

What to expect:

• How direct indexing builds index exposure while allowing for customization
• Why tax loss harvesting can be a valuable planning tool
• How long-short direct indexing helps investors with concentrated stock
• Examples of preparing for liquidity events and reducing tax pressure

Connect with Rex Berger:

• LinkedIn: Rex Berger
• LinkedIn: Generation Capital Advisors
• Generation Capital Advisors

Connect with Jeff Murphy:

• LinkedIn: Jeff Murphy
• LinkedIn: Invesco
• Invesco

About our Guest:

Jeff Murphy is a market leader at Invesco with deep expertise in direct indexing, portfolio construction, and tax-sensitive investment strategies. He works closely with advisors across the country to help clients navigate concentrated stock positions, liquidity events, and the evolving world of personalized indexing.

When the market is shifting faster than most people can keep up, the real risk isn’t volatility; it is holding on to outdated assumptions.

Rex Berger sits down with David Wagner from Aptus Capital Advisors to break down what investors should actually pay attention to right now.

Rex and David open up the playbook behind Aptus’ philosophy of owning more stocks, fewer bonds, and still staying risk neutral. David shares why bonds may no longer serve as the traditional safety net many assume they are, how the 2022 drawdowns challenged decades of investment thinking, and why structure matters more than stock picking.

They also dig into longevity risk, drawdown math, and the discipline that guides Aptus’ collared strategy and compounder stock sleeve. It is a clear look into how to think forward, not backward, in a market full of noise.

What to expect:

• Why bonds struggled in 2022 and what that means going forward
• How Aptus builds portfolios that balance conviction and protection
• A simple explanation of the collared strategy that sits inside ACIO
• Why long-term investors should focus on structure instead of prediction
• And more!

Connect with Rex Berger:

• LinkedIn: Rex Berger
• Generation Capital Advisors

Connect with David Wagner:

• LinkedIn: David Wagner
• Aptus Capital Advisors

About our Guest:

David Wagner is the Head of Equities and a Portfolio Manager at Aptus Capital Advisors. Known for his conviction-driven approach, he leads the firm’s equity research, active ETF strategies, and the widely followed Compounder Stock Sleeve. His work focuses on building practical, risk-aware structures designed to help investors navigate both the left tail and the right tail of market cycles.

Concentrated stock positions can supercharge wealth creation or quietly threaten it. Rex and Sam break down the proven strategies that help you diversify smartly and protect your financial plan.

In this episode of the G360 Wealth Podcast, hosts Rex Berger and Samuel Diarbakerly unpack one of the most common and complex challenges for corporate executives and high-net-worth families: managing a concentrated stock position. Sam shares how these positions form, the risks they create, and the smart, tax-efficient strategies clients can use to diversify without losing hard-earned gains.

Through real-world examples and expert insights, Rex and Sam explore techniques like direct indexing, hedging, exchange funds, and charitable gifting to help listeners turn a concentrated holding into a more balanced and resilient portfolio. It’s an essential guide for anyone with significant equity exposure who wants to de-risk strategically and preserve long-term wealth.

What to expect:

• The biggest risks of holding a concentrated stock position
• How to diversify tax-efficiently using direct indexing and hedging
• When exchange funds or charitable giving strategies make sense
• Why planning first (before selling) can protect more than returns
• And more!

Resources:

• Charitable Giving with a Plan: Smarter Giving Strategies for Investors and Business Owners (Ep. 6)

Connect with Sam Diarbakerly:

• LinkedIn: Sam Diarbakerly
• Generation Capital Advisors

Connect with Rex Berger:

• LinkedIn: Rex Berger
• Generation Capital Advisors