AI is augmenting Morgan Stanley's advisers -- not replacing them

Morgan Stanley is on a mission to combine the best of machine learning, predictive analytics and workflow technology with the human touch provided by its 16,000 financial advisers. Despite the popularity of robo-advisers, clients still want a human being to help them navigate complex life questions, according to Naureen Hassan, chief digital officer for wealth management at Morgan Stanley. Recent studies show that 82% of millennials who work with a financial adviser want more time with that adviser, not less, Hassan said. At the same time, clients also want a simple mobile app to keep track of everything when these decisions have been made. "I don't want to be forced into in-person meetings or shipping and signing a bunch of paperwork," Hassan said.