The Passman Saperstein Bahr Group at Morgan Stanley

David E. Passman
Executive Director
Senior Portfolio Management Director
Alternative Investment Director
Senior Investment Management Consultant

A seasoned industry veteran, David is an Executive Director and co-founding partner of The Passman Saperstein Bahr Group at Morgan Stanley. Since 1986, he has worked in the Capital Markets and Wealth Management. David combines his keen listening and relationship building skills with his extensive market experience to guide clients in making informed and confident decisions about their wealth. He receives great satisfaction knowing he is helping clients navigate the financial markets. His goals-based process, which includes a commitment to ongoing education and outstanding service, earned him recognition on the Forbes America's Top Wealth Advisors list from 2022-2024. In addition, The Passman Saperstein Bahr Group was named as a Forbes "Best in New York State" Wealth Management Team from 2023-2025.

David is a graduate of The Wharton School of the University of Pennsylvania. He earned a Bachelor of Science in Economics with a dual major in Finance and Political Science. Prior to becoming a Financial Advisor, David was an Institutional Proprietary Trader and Market Maker, trading options, futures and physical securities in the foreign exchange, commodity, equity and fixed income markets. In 1998, David brought his extensive experience in capital markets and great respect for risk and volatility to work with individual investors in structuring their investment portfolios for growth and preservation of wealth. In 2006, David formed a partnership with Aaron Saperstein to leverage their individual strengths and skills for the benefit of their clients. Eight years later, David and Aaron joined Morgan Stanley and over the years have expanded their wealth management advisory team.

Today, David draws upon his vast industry knowledge to provide clients with customized investment portfolios and tailored advice. David believes firmly that successful financial planning is founded on a deep understanding of his clients’ personal and family financial needs and goals. David’s market insights and his ability to decipher complex client financial matters enables him to help clients develop a plan to achieve their financial objectives.

Originally from Merrick, Long Island, David and his wife Julie have lived in Chappaqua for the past 30 years. David and Julie, have three children, Jessica, Rebecca and Justin. David has been involved in the community, serving on the Board of the Horace Greeley Scholarship Fund for 12 years, including two terms as President. David enjoys playing golf and tennis, reading, doing crossword puzzles and exercising.



Disclosures:
2022, 2023 & 2024 Forbes America's Top Wealth Advisors
Source: Forbes.com (Awarded April 2022, April 2023 & April 2024). Data compiled by SHOOK Research LLC based on time period from 6/30/20 - 6/30/21, 6/30/21 - 6/30/22 & 6/30/22 - 6/30/23.


2023, 2024 & 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023, Jan 2024 & Jan 2025) Data Compiled By Shook Research LLC Based On Time Period From 3/31/21-3/31/22 & 3/31/22-3/31/23 & 3/31/23-3/31/24.

Aaron L. Saperstein
Executive Director
Global Sports and Entertainment Director
Alternative Investment Director
Senior Investment Management Consultant

Aaron brings a lifetime of experience to his role as co- founding partner of The Passman Saperstein Bahr Group at Morgan Stanley. He is responsible for shaping the team’s strategic vision, while managing investment portfolios and providing financial planning services to his clients. Aaron has enjoyed building longstanding relationships with his clients and colleagues for more than 35 years. His goals-based process, which includes a commitment to ongoing education and outstanding service, earned him recognition on the Forbes America's Top Wealth Advisors list from 2021-2024. In addition, The Passman Saperstein Bahr Group was named as a Forbes "Best in New York State" Wealth Management Team from 2023-2025.

Growing up in Connecticut, Aaron always had an interest in the financial markets. He attended George Washington University to earn his Bachelor’s degree in Business Administration. Upon graduation in 1985, Aaron began his career at Lehman Brothers, working for Seymour Passman, the father of Aaron’s current business partner, David Passman. When David transitioned from institutional trading to wealth management in 2007, Aaron and David formed a partnership, leveraging each other’s strengths to provide clients with an extensive array of services and a customized wealth management experience. They joined Morgan Stanley in 2014 and have been valuable members of the firm ever since.

Aaron has built his career educating and advising clients on how to better understand and manage their total financial picture. He listens closely to identify concerns beyond what people tell him about their finances, while providing analysis without judgement. These skills enable Aaron to forge deep and lasting relationships with his clients. In addition, Aaron has earned several of Morgan Stanley’s highly sought-after credentials, including Global Sports and Entertainment Director, Alternative Investment Director and Senior Investment Management Consultant. These designations provide Aaron and his colleagues with exclusive resources designed specifically to help families manage the unique challenges of significant wealth.

Aaron’s desire to help others achieve their personal and professional goals is equaled only by his dedication to his community and his family. In 2021, he helped launch the Earl Monroe New Renaissance Basketball Charter School in the Bronx. This specialized high school is the first in the country to provide an academic curriculum designed around sports (specifically, basketball) and teach students about the many career paths associated with the game. Aaron is also on the Board of the New Renaissance Basketball Association.

Aaron believes balance is vital to a happy life. He and his wife, Jane, currently live in Bedford, NY and have two grown sons. An avid golfer, Aaron enjoys staying fit through physical fitness and proper nutrition.



Disclosures:
2021, 2022, 2023 & 2024 Forbes America's Top Wealth Advisors
Source: Forbes.com (Awarded April 2021, April 2022, April 2023 & April 2024). Data compiled by SHOOK Research LLC based on time period from 6/30/19 - 6/30/20, 6/30/20 - 6/30/21, 6/30/21 - 6/30/22 & 6/30/22 - 6/30/23.

2023, 2024 & 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023, Jan 2024 & Jan 2025) Data Compiled By Shook Research LLC Based On Time Period From 3/31/21-3/31/22, 3/31/22-3/31/23 & 3/31/23-3/31/24.

Lawrence W. Bahr, CFP^®
Senior Vice President
Financial Advisor
Corporate Retirement Director
Morgan Stanley


Larry is a seasoned advisor with 17 years in the financial services industry. He focuses on holistic financial planning for individuals, families and corporations. As a CERTIFIED FINANCIAL PLANNER™, Larry has honed a seamless process which starts with fully understanding his client’s goals and financial wellness and culminates with the execution of a fully comprehensive financial plan. His disciplined approach combines wealth accumulation strategies and risk management techniques to help each client enjoy well-rounded solutions for maintaining financial strength through important life milestones and the changing markets. Specific investment strategies may evolve as needs arise, but with the foundations of solid plans, clients enjoy having clarity, flexibility and tangible success metrics.

He is among a select few financial advisors at Morgan Stanley to earn the Corporate Retirement Director title because of his experience with Plan Management and Risk Mitigation, Investment Management, Expense and Service Provider Oversight and Employee Engagement. Retirement plan sponsors work with Larry for matters relating to defined contribution plans and defined benefit plans, as well as non-qualified deferred compensation programs and employee financial wellness.

Throughout his career, Larry has been committed to his own professional knowledge and development. He’s remained on the forefront of the most effective retirement plan strategies in order to deliver a more powerful client experience. A graduate of Hamilton College, Larry earned his Chartered Retirement Plans Specialist℠ designation in 2013 and his CERTIFIED FINANCIAL PLANNING™ designation in 2015. He is member of the Financial Planning Association of Greater Hudson Valley and Board Member of Westchester Human Resource Management Association (WHRMA).

Born and raised in Manhattan, Larry now lives in Chappaqua with his wife and two daughters. In his personal time, Larry has committed himself to the continued civil rights movement, fighting anti-Semitism and helping to secure fair treatment to all. For almost two decades, Larry sat on the New York Regional Board of the Anti-Defamation League and was previously the Chairman of ADL’s Westchester Advisory Committee. Larry also served on UJA’s Westchester Regional Advisory Council.

Disclosures:
2021, 2022, 2023 & 2024 Forbes Best-In- State Wealth Advisors New York - NY State (High Net Worth)
Source: Forbes.com (Awarded April 2021, April 2022, April 2023 & April 2024). Data compiled by SHOOK Research LLC based on time period from 6/30/19 - 6/30/20, 6/30/20 - 6/30/21, 6/30/21 - 6/30/22 & 6/30/22 - 6/30/23.

2023, 2024 & 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023 & Jan 2024 & Jan 2025) Data Compiled By Shook Research LLC Based On Time Period From 3/31/21-3/31/22 & 3/31/22-3/31/23 & 3/31/23-3/31/24.

Alan Gladstone is among the most experienced advisors working in the financial services industry today. He launched his career in 1976, focusing on ultra high net worth clients. His perception and depth of knowledge have attracted a broad range of investors.

In 2016, after 45 years in the business Alan formed a succession team with David Passman and Aaron Saperstein, Financial Advisor's in their 50's, each in the industry more than 30 years. Alan summarizes their relationship in this way. “I plan to remain in the business for years and view this relationship more as an enhancement plan than a succession plan. David and Aaron are both articulate, serious thinkers, caring, technology savvy, and competent both at portfolio management and financial planning.

Alan and the team are adept at helping investors preserve and grow their assets. They believe in a sentiment held by Dr. John Von Neumann, one of the great mathematicians and game theorists in modern history who observed: “Certain defeat results from any strategy whose primary aim is to win rather than avoid losing.” True to this belief, the teams first priority is capital preservation; second, a focus on total returns.

Alan summarizes his role in this way: “Many of my friends are retired. They know me well and ask me why I continue to do what I do? The answer is, I derive great satisfaction from guiding clients through the investment process.

The team is based at the Global Wealth Management World Headquarters of Morgan Stanley in Purchase, New York. "Our location gives clients an additional benefit," Alan says, "We are in proximity to some of the best minds in the financial services industry, every day.

Alan completed the Lehman Brothers School of Advanced Financial management in 1983, the Wharton School of Portfolio Management at the University of Pennsylvania in 2005, and the Morgan Stanley Wealth Advisor program in 2006.

Disclosures:
2021-2023 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2021-2023). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.


2023, 2024 & 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023 & Jan 2024 & Jan 2025) Data Compiled By Shook Research LLC Based On Time Period From 3/31/21-3/31/22 & 3/31/22-3/31/23 & 3/31/23-3/31/24.

Tate Illers
Financial Advisor
Financial Planning Specialist

The Passman Saperstein Bahr Group officially welcomed Tate to the team in 2023. As a Financial Advisor and Financial Planning Specialist, Tate offers comprehensive, goals-based Financial Planning as one of his core functions on the team.

Prior to joining the team, Tate’s skillset had been developed under the Wealth Advisor Associate Program, where he worked in partnership with Financial Advisors in the Purchase, NY and Fairfield County, CT Offices. During this time, he assisted with the Financial Planning Process including consultation, creation, and presentation. It was in this role that he developed a passion and expertise in Financial Planning, and where he was introduced to David, Aaron, & Larry. Because of their strong working relationship, and Tate’s demonstrated talents and work ethic, the team was excited to offer a role to Tate on their team.

A lifetime resident of Westchester, New York, Tate attended Fordham University’s Gabelli School of Business, where he graduated in 2021 with a degree in Finance. While in attendance, he actively contributed to the FinTech and Alternative Investment Clubs. He continues to remain very active in the Fordham University Alumni Association.

Tate has also been dedicated to giving back to his community. He is an active member of One Change at a Time, a nationwide organization that supports the bridging of the generational gap between senior citizens and the next generation. Tate frequently engages in this initiative at the Dumont Nursing & Rehabilitation Center in New York. He is also a frequent volunteer at The New Covenant Center, a Catholic Organization focused on hunger prevention and social services, located in Fairfield County. Tate is an avid New York Sports fan, and enjoys traveling, golfing, physical fitness, and cooking. He is also a blackbelt in Kenpo Karate, and had periodically taught self-defense and sparring classes.

Disclosures:
2021, 2022, 2023 & 2024 Forbes Best-In- State Wealth Advisors New York - NY State (High Net Worth)
Source: Forbes.com (Awarded April 2021, April 2022, April 2023 & April 2024). Data compiled by SHOOK Research LLC based on time period from 6/30/19 - 6/30/20, 6/30/20 - 6/30/21, 6/30/21 - 6/30/22 & 6/30/22 - 6/30/23.

2023, 2024 & 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023 & Jan 2024 & Jan 2025) Data Compiled By Shook Research LLC Based On Time Period From 3/31/21-3/31/22 & 3/31/22-3/31/23 & 3/31/23-3/31/24.

Nicole has been in the industry since 2003, when she graduated from Endicott College with a Bachelor's in Business Administration in Finance. Nicole is committed to providing clients with the highest level of customer service. Nicole has been nominated for several leadership groups and has sat on roundtables and been a member of the Distinguished Service Professionals Group where she gave input and suggestions as to how we can service our clients better. Nicole prides herself on advocating for our clients. Nicole lives in Redding, Connecticut with her husband and two children.

Having experience as both a client facing Financial Advisor, where new client relationships are born and cultivated through the establishment of trust, and the back end operational side where relationships are sustained through execution of exceptional service, Tim brings to our team a distinctive understanding of what it takes to help deliver the highest quality wealth management experience from end to end.

As a Financial Planning Specialist & Wealth Management Associate, Tim’s responsibilities include the execution of our daily portfolio trading, periodic rebalancing, financial planning, investment research, and conducting ongoing portfolio analytics and reporting. Tim is also actively engaged in marketing and new business development activities.

Tim began his financial services career in 2009 as a registered representative and is Series 7, 63, and 65 licensed. Tim received a Bachelor of Arts degree from Gettysburg College where he graduated with honors in his dual majors: Economics & Business Management. A native of New Canaan, CT for over 25 years, Tim now resides in Shelton, CT.

Tim enjoys traveling and spending time with family and friends. His hobbies include running, skiing, attending concerts, and hiking with his dog. His favorite sport is football.

Kevin takes pride in the high quality, personalized service he has provided clients since beginning his career at Merrill Lynch in 1996. He has earned his series 7 and 66 licenses. Kevin joined Morgan Stanley Smith Barney with Alan Gladstone in 2006 and played an instrumental role in transitioning client accounts. he received his BA from the State University of New York at Albany before serving in the US Army for four years. Kevin is married with one child and lives in Port Chester, NY.

Robert DeLano is the most recent addition to The Passman Saperstein Group having joined the team in 2022. He brings more than 10 years of experience in private wealth management and operations and compliance. As a Senior Registered Client Service Associate for the team, Rob’s primary responsibilities include client onboarding and ongoing service.

Rob began his professional career in 2011 at Gabelli Funds, LLC as a Junior Equity Trader. While at Gabelli Funds, he obtained an extensive understanding of the capital markets and financial industry. Most recently, Rob served as a VP, Associate Manager at Fieldpoint Private Securities, LLC located in Greenwich, CT.

Rob attended the University of Rhode Island, where he majored in Finance. He holds the Series 7, 66, and 24 licenses.

Rob currently resides in Harrison, NY with his wife, Holli, and their dog, Bear.

Allan graduated from Brown University in 2023 with a concentration in Business, Entrepreneurship and Organizational Studies. He earned a master’s degree in Sport Administration from the University of Louisville in 2024. Allan was an active member of the football teams at Brown and Louisville, participating in the 2023 ACC Championship and the 2024 Ivy League Dream Japan Bowl in Tokyo.

Growing up in Greenwich, CT with his 6 siblings, Allan brings a strong team-oriented background and a competitive spirit that will be a valuable addition to our team. In his free time, Allan enjoys working out and reading books on growth, mindset, health, and self-improvement. He loves listening to music and spending time with his big family and two dogs.