Morgan Stanley Defends Advisor Role Amid AI

At UBS's 2026 Financial Services Conference on Feb. 10, 2026, Jed Finn, Morgan Stanley head of wealth management, pushed back against AI fears after a Bloomberg report and an industry selloff that sent Charles Schwab, Raymond James, LPL and Stifel down 7–8% and Morgan Stanley down about 2.4%. He said AI tools are components within advisor-led platforms and will enhance advisor efficiency without replacing relationships.