Start by peeling and deveining the shrimp, rinsing them under cold water and setting aside. Pick through the crab meat to remove any shells.

In a large pot over medium heat, add the butter and olive oil. Once melted, add onion, celery, and carrots; cook for 5-7 minutes until soft.

Introduce the minced garlic; sauté for about 1 minute before stirring in the tomato paste and cooking for an additional 1-2 minutes.

Sprinkle flour over the vegetables, stir well and cook for another 1-2 minutes.

Gradually pour in the broth while stirring. Add Old Bay seasoning, paprika, bay leaf, and adjust with salt and pepper. Simmer for 10 minutes.

Optional: use an immersion blender to partially blend for a smoother texture, while leaving some vegetable chunks.

Reduce heat to low, stir in heavy cream, and add shrimp and crab meat. Simmer gently for an additional 5-7 minutes until shrimp are opaque.

Taste and adjust seasoning as needed. Remove the bay leaf before serving.

Ladle into warm bowls, garnish with parsley or chives and serve with lemon wedges.