Morgan Stanley Executive Says AI Could Double Financial Advisers’ Client Loads

Vince Lumia, head of Morgan Stanley’s wealth management division, said AI is primarily intended to help financial advisers organize information, rehearse conversations and improve efficiency rather than replace people. As clients increasingly use ChatGPT to research investment issues, advisers must also respond faster and provide deeper expertise.

As of July 20, 2026, Lumia said advisers were already using AI to simulate client conversations and prepare for potential questions. As the tools continue to be rolled out, each adviser may eventually be able to serve three times as many clients as at present. Reports did not disclose the investment amount, a formal launch date or a complete implementation timetable.