Author: Paul Simons, CEO @ PUREfi Wealth
Paul Simons, CEO @ PUREfi Wealth
Paul is the Founder & CEO at PUREfi Wealth. 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. www.PurefiWealth.com
For families of significant wealth, whether earned and created by the current generation, inherited from past generations, or a combination of both, legacy wealth and family dynamics inevitably present challenges. And, while those challenges may be considered “nice problems to have”, they are challenges nonetheless. An objective of many wealthy families, whether newly created or multigenerational, is to preserve and pass on not only the wealth, but the values and the grit that helped to create it. With that ambition often comes fear; fear of raising entitled children, or fear of the potential for a lifetime of hard work to…
What is Direct Indexing For many investors, a core equity strategy is the centerpiece of a diversified investment portfolio, and this core is often represented by indexed exposure to core equities with “satellites” representing other asset classes completing the overall asset allocation. Direct Indexing strategies, which provide investors the ability to calibrate their core equity exposure to an index by directly owning the individual component stocks, have proliferated in recent years. Their appeal is straightforward: like index funds, these strategies can provide performance generally in line with the market, but rather than owning shares in a commingled vehicle such as…
Much of the conversation around the rise of the independence movement in wealth management has focused on financial advisors. They seek better work environments, better economics, ownership and control, and relief from constantly peering around corners for the next adverse corporate action. These benefits are compelling for advisors. But there’s another part of the story that’s gone largely unnoticed: independence isn’t just better for advisors, it’s transformative for clients. This angle has likely been overlooked because the most vocal advocates for independence have naturally been the pioneers and platform leaders facilitating advisor breakaways, like Shirl Penney, CEO of Dynasty Financial…