Morgan Stanley
Morgan Stanley gives wealth advisors an OpenAI-based assistant and meeting notes tool
Morgan Stanley Wealth Management built AI @ Morgan Stanley Assistant on OpenAI technology so financial advisors can query the firm's knowledge. It reports 98% of advisor teams adopted it, and followed with Debrief, which drafts meeting notes and follow-up emails.
Key figures
Copied exactly from the sources. Copy any figure with its citation.
98%
Financial advisor teams that adopted AI @ Morgan Stanley Assistant1
About half an hour
Time saved per meeting, one advisor's testimonial (not a firm-wide measure)1
What it took
The problem
Financial advisors need quick answers from a large body of firm research and policy, and they spend time after each client meeting writing notes and follow-ups.
What they built
Two tools for Financial Advisors. AI @ Morgan Stanley Assistant answers advisor questions using the firm's own knowledge. AI @ Morgan Stanley Debrief, announced in June 2024, takes notes during client meetings (with client consent), flags action items, condenses key points, drafts a follow-up email for the advisor to edit and send, and saves a note to Salesforce.
How they did it
Morgan Stanley Wealth Management announced its OpenAI relationship in March 2023 and described OpenAI as its only wealth management strategic partner. The Assistant was fully rolled out in September 2023. Debrief is built on OpenAI technology too. The release says AI output can be inaccurate, incomplete or biased and tells advisors to verify it.
Results
The release states that 98% of Financial Advisor teams adopted the Assistant. One advisor quoted in it said Debrief saves about half an hour per meeting. That is a single testimonial, not a measured result.
Lessons for your project
Ground the assistant in your own approved content, so advisors get answers from firm knowledge instead of the open internet.
Ship the second tool where the first one earned trust. Debrief followed the Assistant once advisors already used AI daily.
Build consent and review into note-taking features. Debrief records only with client consent and leaves the draft email for the advisor to edit and send.
Caveats
- The release is Morgan Stanley's own marketing. The 98% adoption figure and the testimonial are not independently verified.
- The release does not give an adoption figure for Debrief.
- The specific OpenAI model is not named in the source used.
Sources
- Morgan Stanley Wealth Management Announces Latest Game-Changing Addition to Suite of GenAI Tools
Silicon UK (republished Morgan Stanley press release) · 2024-06-26 · Press release · silicon.co.uk
Summarized in our own words from the sources above. Spotted an error? See corrections.