I brought someone to a firm I used to work at and it did not go well…

The proposed portfolio transition involved selling a significant amount of highly appreciated stock, including Apple shares that had been held for decades.

The tax management strategy was simply to spread the sales over two calendar years.

If you’re in a similar situation: YOU DONT HAVE TO DO THAT!!

Depending on the facts and circumstances, tools such as:

• 351 exchanges
• Box spread loans
• Synthetic VPFs
• Tax-aware long/short overlays

may help improve diversification, access liquidity, or transition a portfolio in a more tax-efficient manner.

If you're being told the only way to diversify is to sell everything and write a massive check to the IRS, it's worth getting a second opinion.