Robo-advisers to take over routine tasks at Morgan Stanley

Washington

MORGAN Stanley is about to augment its 16,000 financial advisers with machine-learning algorithms that suggest trades, take over routine tasks and send reminders when your birthday is near.

The project, known internally as "next best action", shows how one of the world's biggest brokerages aims to upgrade its workforce while a growing number of firms roll out fully automated platforms called robo-advisers.