$7.4M adviser explains the keys to his success

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This profile appeared earlier this year as part of On Wall Street's Top 40 Under 40. All details are as of Sept. 31, 2016. To see who else made the top 10, please click here.

What's propelled adviser Nick Kavallieratos to the top of this year's Top 40 Under 40 ranking?
Honing a personal style of communication and building a team of specialists, says the New York-based adviser, who ranked no. 1 with $7.4 million in production.

Effective communication is paramount for Kavallieratos, a theme he returns to again and again. It helps clients stay on course when major events like Brexit can stir emotional responses, causing people to act irrationally.

"Brexit was a lot of noise," Kavallieratos says of his team's work with clients during and after the U.K. vote.

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He had poignant conversations with clients where he was able to explain the importance of staying calm amid big news and market volatility. "We've spent countless hours creating a road map for you and your family," Kavallieratos told clients. "Does it make sense to make an emotional decision based on one event?"

Of course, developing effective listening skills didn't happen overnight, he says. "It has taken time to refine that element."

Kavallieratos also says that fostering a team of specialists has also been a key factor in his success. Over the past eight years, he's almost doubled the size of his team to 15, including four advisers.

"It's a sheer necessity to want to grow the business and offer more to clients. Being a jack of all trades and a master of none helps no one," Kavallieratos says.

Noting his firm's size and capabilities. Kavallieratos says he's also focused on finding new ways to leverage them for his clients. Adding subject matter experts to the team has helped them better tap resources at Morgan Stanley, where he has been his entire career.

"It goes back to our cornerstone belief that if you don't have the right customer service there is no basis on which to grow the business," he says.

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