Begin by preparing the risotto. In a large pot or Dutch oven set over medium heat, warm the olive oil until shimmering. Add the chopped shallot and sauté until softened and fragrant, about 2 to 3 minutes. Stir in the Arborio rice, toasting it gently for another 2 to 3 minutes, until the grains are translucent around the edges.
Pour in the white wine and stir constantly until the liquid is nearly absorbed. Begin ladling in the warm seafood stock—start with 1 cup and stir frequently as the rice absorbs it. Once most of the liquid is gone, add the next ladle of stock, continuing this process in ½ to 1 cup increments. Stir regularly to release the starches and develop the risotto’s signature creaminess. This process should take around 25 minutes, or until the rice is tender with a slight bite at the center.
Once the risotto reaches an al dente texture, remove the pot from the heat. Stir in the grated Parmesan, lemon zest, and heavy cream if you desire a richer finish. Season generously with salt and freshly ground black pepper to balance the flavors.
To assemble, spoon the creamy risotto into a large serving dish or individual bowls. Arrange the assorted cooked seafood on top—layering the shrimp, scallops, clams, crab, and lobster for a vibrant presentation. Sprinkle with fresh parsley and offer lemon wedges on the side to brighten each bite. Serve immediately for the best texture and flavor.