By Sherry Thomas
By Sherry Thomas
Steven Esposito has been advising high net worth portfolios for 37 years, always putting the client’s needs first. He got his start after graduating from college in 1983 when he applied for a position as a financial advisor. “They told me that I was too young and inexperienced, but I convinced one manager to take a chance on me,” explains Esposito, today the Executive Director, Senior Portfolio Management Director, and Wealth Advisor for Morgan Stanley. “I worked 28 days a month, on average 10 to 12 hours every day, and at the end of my first year the Branch Manager said to me, ‘I have never seen anyone work so hard. Congratulations. You finished first in your training class.’” In the nearly four decades he’s been in the wealth management business, he has experienced five market crashes and now, a pandemic. The first thing he asks his clients is what about their financial situation keeps them up at night. “Today, in my opinion, many advisors have little or no portfolio management experience. They rely on a software program to identify the ‘Style Box’ best suited to the client and then systematically deploy the client’s capital,” says Esposito, who leads the Lake Forest Group of Morgan Stanley with a boutique approach to wealth management. “Knowing the client’s needs and wants on a personal basis is more effective. We believe sometimes you have to ‘think outside the box’ and the pandemic is a perfect example.”
Steven Esposito’s office is located at 207 E. Westminster Avenue, Suite 300, in Lake Forest. For more information, call 847-604-7321 or email [email protected].
Steven Esposito is a Wealth Advisor with the Wealth Management division of Morgan Stanley in Lake Forest, Illinois. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley Smith Barney LLC, Member SIPC www.sipc.org. The Morgan Stanley Wealth Advisor engaged Sheridan Road to feature this profile. Steven Esposito may only transact business in states where he is registered or excluded or exempted from registration. http://fa.morganstanley.com/steven.esposito.
Morgan Stanley Smith Barney LLC. Member SIPC. CRC 3608123 05/21