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Capital Gains Paralysis: Direct Indexing & Portfolio Ossification Solutions

February 2, 2026

In a feature article in Investor Magazine, PUREfi Wealth Founder & CEO Paul M. Simons discusses compelling solutions to the increasingly common challenges of Capital Gains Paralysis and Portfolio Ossification.

“Many investors who have wisely deployed direct indexing or other investment strategies and benefited from the strong market performance of the last 2 or even 20 years now find themselves with new challenges: their portfolios are overweighted with risk assets, over concentrated in a handful of high performing stocks, or they simply have no strategy at all anymore, unable to de-risk or rebalance due to excessive capital gains tax liability.

…there may be compelling solutions that you can thoughtfully consider rather than simply accept that you are “stuck” and have no choices at all.”

Paul M. Simons

Paul M. Simons

Founder & CEO

Paul began his career at Merrill Lynch, where he started as a financial advisor and spent 18 years in increasingly senior leadership roles. He left ML to lead the Private Wealth Business at Credit Suisse as Co-Head of Private Banking USA until July 2012. For the next 5 years, he served in a number of executive roles in financial technology companies and in 2018 returned to wealth management as President of Boston Private, where he led the Private Banking, Wealth & Trust business until the firm’s 2021 acquisition by Silicon Valley Bank. Paul’s strategic vision and leadership have been pivotal throughout his career and led to the founding of PUREfi Wealth in 2023.

Sandy Galuppo

Sandy Galuppo

Partner, Senior Wealth Advisor

Sandy joined PUREfi Wealth in December 2023 as a Partner and Senior Wealth Advisor, where he leverages his extensive experience to provide clients with tailored financial solutions. He began his career at Merrill Lynch in 1995, providing comprehensive wealth planning to executives of publicly traded companies, with a focus in retirement, equity compensation, and deferred compensation programs. Sandy graduated from Boston College and moved on to play professional hockey.

Timothy R. Jones

Timothy R. Jones

Partner, Senior Wealth Advisor

Tim joined PUREfi Wealth in February 2024 with over 30 years of experience serving innovators, entrepreneurs, and executives. Prior to PUREfi Wealth, Tim spent 12 years at Merrill Lynch and 10 years at UBS Wealth Management. Prior to his time at ML, Tim worked at Thomas Weisel Partners guiding executive clients on tax-efficient strategies. He started his career at Fidelity Investments, advising institutional clients on asset allocation models and risk-adjusted performance. Tim graduated from Noble and Greenough School, obtained his undergraduate degree from Lake Forest College and later earned his MBA from Boston University.

Bill Nichols

Bill Nichols

Partner, Relationship Manager

Bill joined PUREfi Wealth in April 2024 as a Partner and Relationship Manager, focusing on expanding our reach to both advisors and clients. With 35 years of industry experience, Bill has held numerous leadership roles in institutional equities sales and trading. In 2018, he transitioned to wealth management, working as a financial advisor at Wells Fargo. Bill graduated from Yale University, where he was a standout athlete and then a member of the 1983 US National Men’s Hockey team. His leadership experience and strategic vision have been crucial in driving the growth and success of our business development efforts.

Chris Roy

Chris Roy

Partner, Relationship Manager

Chris has spent over three decades working across wealth and asset management advising families, institutional and professional investors, business owners, and technology entrepreneurs through market cycles, business successions, and generational transitions, in addition to financial services and fintech operating and entrepreneurial experience.

Throughout his career with firms like BNY Mellon, Boston Private, and Acadian Asset Management, Chris has consistently focused on aligning advice, planning, and investment management with long-term goals and outcomes, grounded in a strong commitment to independence, accountability, and stewardship.

A graduate of Bowdoin College, Chris remains engaged in education and community service supporting a range of nonprofit and youth organizations in the Boston area, including his tenure as Trustee and Chair, Investment Committee at Dexter Southfield School.

George Ferrel

George Ferrel

Wealth Advisor

George Ferrel is a seasoned Wealth Advisor with over 12 years of experience in the financial services industry. He specializes in working with high-net-worth individuals and families, delivering comprehensive, goal-oriented strategies tailored to each client’s unique needs. His approach is grounded in putting clients first—crafting thoughtful, long-term financial plans that align with their goals and values.

Prior to joining PureFi Wealth, George held advisory roles at Bank of America’s Private Bank, Boston Private/SVB, and First Citizens Wealth. 

A graduate of Lehigh University, George serves on the Board of the Nantucket Boys & Girls Club. He and his wife live in Boston’s Fort Point Channel neighborhood with their two young children, and enjoy being part of the vibrant community they call home.

Alexandra Samson Bean, CFP<sup>®</sup>

Alexandra Samson Bean, CFP®

Wealth Advisor

Alex joined PUREfi Wealth in April 2025 with over six years of experience in the financial industry. As a Wealth Advisor, she partners with individuals and families on comprehensive financial planning and investment management. Throughout her career, Alex has worked closely with high-net-worth clients helping them solve complex financial planning issues and navigate major life transitions like marriage, career changes, or multigenerational planning. She’s especially passionate about building strong, lasting relationships and helping clients take meaningful action toward what matters most to them. Her personalized, relationship-driven approach helps clients feel confident, supported, and in control through every stage of their financial journey.

Alex earned her B.A. in Economics from Wesleyan University, an M.B.A. in Business Analytics from the University of Connecticut, and became a CERTIFIED FINANCIAL PLANNER® in 2024.

Charlie Corkery, CFP<sup>®</sup>

Charlie Corkery, CFP®

Wealth Advisor, CAO & CCO

Charlie joined PUREfi Wealth in September 2023, bringing over six years of experience in the financial industry. As a Wealth Advisor, he provides clients with comprehensive financial planning and investment management services. Charlie is a key member of the founding team, contributing to the day-to-day management and strategic direction of the firm. He graduated from Bentley University, where he earned a degree in economics and finance, and became a CERTIFIED FINANCIAL PLANNER™ in 2023. As an experienced advisor with deep generational connections to Millennial and Gen Z innovators, executives, and inheritors, Charlie brings a unique peer perspective to his clients.

Nicole Bogert

Nicole Bogert

Client Service Manager

Nicole joined PUREfi Wealth in November 2023, bringing over five years of experience in the financial industry, with a focus on client service and wealth operations. She graduated from the University of New Hampshire, where she developed a strong foundation in finance, and subsequently earned her MBA from Fitchburg State. Nicole’s commitment to excellence and dedication to service ensures that our clients receive the highest level of service and support.

Amelya Redman

Amelya Redman

Client Associate, Marketing and Social Media Manager

In March 2024, Amelya joined PUREfi Wealth as a Client Associate, focusing on client service as well as digital marketing and managing the firm’s social media platforms. She graduated from Boston University in 2021 with a degree in Business Administration, concentrating in Finance. Amelya brings over three years of client service experience. Her proficiency in digital marketing and social media enhances our outreach strategies, ensuring accurate and attentive delivery of services. Amelya consistently offers valuable insights and support to our clients, ensuring their needs are met with precision and care.

Bob Shea

Bob Shea

CIO | Dynasty Financial Partners

Bob leads Dynasty’s Investment Committee, provides top-down asset allocation insights and guidance, and leads investment manager selection. In addition, he constructs and maintains Dynasty’s Outsourced Chief Investment Officer (OCIO) portfolios, is responsible for asset manager relationships, and participates in the investment committees of Dynasty’s clients. Bob began his impressive career in Investment at Goldman Sachs, where he worked from 1991-2004 and served as Partner, Co-Head of Cash Equity Trading. He joined Dynasty from investment firm FCF Advisors, where he served as CEO and CIO.

Gordon Abel

Gordon Abel

CMO | Dynasty Financial Partners

Mr. Abel joined Dynasty in May 2016 as the firm’s Chief Marketing Officer. He leads marketing efforts for Dynasty Financial Partners’ corporate marketing, Network Advisor marketing, and Dynasty Community educational events and experiences. During his time at Dynasty, he has contributed to the firm’s growth by enhancing its brand profile and developing strategic cross-channel marketing strategies. He tests and leverages new marketing platforms, integrates technology and data, and builds awareness across relevant paid, owned, earned, and shared channels to enhance customer value.

Justin Weinkle

Justin Weinkle

CFO | Dynasty Financial Partners

Mr. Weinkle joined Dynasty in July 2012 and serves as the firm’s Chief Financial Officer. He is responsible for all aspects of corporate financial reporting and management, including leading Dynasty’s Finance team toward their goal of providing the right information to the right people at the right time. Prior roles include Director of M&A, SVP of Finance and Head of Strategic Analysis, and Chief of Staff supporting Dynasty’s CEO. At Dynasty, Mr. Weinkle has helped design, launch, and grow several key initiatives, including the Outsourced CFO, M&A advisory, and Capital Strategies business lines. He loves the opportunity to engage with Advisors in the Dynasty Network as they work to implement their own firm’s financial strategy.

Katie Tyrrell

Katie Tyrrell

Vice President, Relationship Management | Dynasty Financial Partners

Bio to come.

Harris Baltch

Harris Baltch

Investment Banking & Capital Markets | Dynasty Financial Partners

Harris is responsible for leading Dynasty’s Investment Banking division. Prior to joining Dynasty, Harris spent nearly a decade at UBS Investment Bank where he was an Executive Director in the firm’s Financial Institutions Group. While at UBS, Harris originated, led and executed over $10 billion of strategic M&A and capital market transactions for companies in the asset and wealth management industry. Earlier in his career, Harris worked at PricewaterhouseCoopers LLP in the Banking and Capital Markets Group. He has over 15 years of financial services experience and earned his M.B.A. from the Johnson Graduate School of Management at Cornell University. He also received a B.S. in Accounting at Binghamton University and is a certified public accountant, registered in the State of New York.

Sam Anderson

Sam Anderson

Managing Director, Co-Head of Investment Banking | Dynasty Financial Partners

Sam Anderson is the Co-Head of Dynasty Investment Bank at Dynasty Financial Partners LLC. Prior to joining Dynasty, Sam was Senior Managing Director and a member of the Management Committee at Medley Management Inc. Prior to joining Medley, Sam was Head of Commercial Finance M&A within the Financial Institutions Investment Banking Group at Goldman Sachs. Prior to joining Goldman Sachs, Sam was a member of the Investment Banking Financial Services Group at Bank of America. Prior to his time at Bank of America, Sam held various positions at Citi Smith Barney.

Sam is from New Portland Maine, a graduate of Bates College where he received his BA in Economics and was Captain of the Bates NCAA Division I alpine ski team. Sam currently lives in Vail Colorado with his wife Lisa and their three children. Sam and family are active in numerous local charities with a focus on youth sports.