Barron's Advisor Nick Kavallieratos: Mastering Lifestyle Planning | Next Gen
Oct 9, 2025
Nick Kavallieratos, a managing director and financial advisor at Morgan Stanley, dives into the evolving world of lifestyle planning. He explores how advisors can cater to multigenerational clients, emphasizing the importance of continuous questioning to adapt to shifting priorities. Nick highlights the impact of lifestyle inflation, particularly with travel expenses, and contrasts the spending habits of different generations. He also discusses the potential of AI in personalizing client experiences and encourages advisors to deepen their understanding of client lifestyles.
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Ask Continuously To Prepare For Change
- Continuously ask clients questions even when they seem irrelevant today.
- Plant seeds now so you can respond with concrete solutions when priorities change.
Client Who Exited A Business Then Co‑Invested
- A client sold his business expecting to retire but later faced a request to co-invest for a son-in-law.
- By planning ahead the advisor had a solution ready when the unexpected opportunity arose.
Ask Why Capital Is Being Preserved
- Start generational planning by asking why the client is preserving capital and what goals they want to fund.
- Tailor strategies for philanthropy, heirs, or community contributions and adjust as priorities shift.