Finance
Morgan Stanley sets record $9.1 billion in wealth management revenue
Morgan Stanley said it is using AI to improve efficiency while stressing that human financial advisers remain central to wealth management. CEO Ted Pick said AI can handle much of the early work in preparing for clients\' investment and financial decisions, but it cannot replace trust with clients. Morgan Stanley reported third-quarter net revenue of $20.3 billion and net income of $4.9 billion. Wealth management net revenue hit a record $9.1 billion.
