Morgan Stanley
  • Wealth Management
  • Nov 5, 2021

Why Choosing a Virtual Advisor Can Be the Right Move for You

Discover the unique benefits of remote advice and learn how Morgan Stanley Virtual Advisor makes goals-based planning, investing, and managing money simple and affordable.

It’s no secret we’re living in a world that’s increasingly digital. You experience it every day, whether you work remotely, shop or learn online, stream entertainment, or even access health care virtually with telemedicine.

Just about every aspect of your life can be managed digitally or virtually today. And that includes your financial life. The explosive growth of fintech has introduced a range of exciting technologies designed to improve and automate the delivery of financial services, from banking to mortgages to insurance. 

Just about every aspect of your life can be managed digitally or virtually today. And that includes your financial life.

More than ever, digital technology is also transforming the relationship between financial advisors and their clients, ushering in the rise of the Virtual Advisor.  As far back as 2015, McKinsey estimated that approximately 42 million households worldwide were already prime candidates for virtual advice.1 With increasing comfort with remote technologies, investors have shown a clear willingness to engage in a remote relationship with a live financial advisor, and often prefer it.

The unique benefits of Virtual Advisors

With Morgan Stanley Virtual Advisor, you can connect to experienced financial professionals from anywhere in the United States, who can create strategies and help you plan for your goals using powerful online tools and solutions. You no longer have to be limited to choosing from financial professionals in your local area.

And you’re not limited to online interactions. For example, with Morgan Stanley Virtual Advisor, you can have a conversation with a financial advisor over the phone. And no matter how you connect with us, you have access to Morgan Stanley resources including:

  • Goals Planning System (GPS), a platform that helps your Virtual Advisor provide advice and solutions that align with your current needs and future plans
  • Total Wealth View, a tool for seeing your complete financial picture in one place, which can lead to more informed wealth planning discussions
  • Our Spending and Budgeting tool to help track and manage cash flow across all accounts

Virtual Advisors aren’t robo-advisors

It’s important to make the distinction that despite similar names, not all digital advisory solutions are the same. A robo-advisor is a smart algorithm that can help generate a portfolio based on the inputs that you provide, including your investing time horizon and risk tolerance.

But unlike a Virtual Advisor, a robo-advisor is not a planner. And a robo-advisor can’t help you think critically or proactively about financial decisions. A Virtual Advisor provides live human advice and insights, using the latest digital tools and technology, for personal goals-based planning that can be affordable and accessible. At a time when many people’s relationship with money is complicated, think of remote advice as planning and investing, simplified. 

A Virtual Advisor provides live human advice and insights, using the latest digital tools and technology

A more thoughtful approach to planning

With Morgan Stanley Virtual Advisor, you’ll have a dedicated remote team of knowledgeable financial advisors to guide and support you. Understanding that you have competing financial priorities in your life, they’ll help you create a plan that balances your day-to-day needs—like supporting your family and paying off debt—with long-term goals and dreams like funding a child’s education or building a nest egg for your retirement.

Using a secure digital environment, your remote team will provide research-based advice and proactive portfolio recommendations that evolve along with your needs, preferences, and interests. That can include Socially Responsible investing, where we offer one of the industry’s few non-Robo portfolios aligned to ESG (Environmental, Social and Corporate Governance).

You’ll also find sophisticated solutions in brokerage, banking and goals-based planning and educational resources to help you navigate financial milestones with confidence. Plus, you have access to Morgan Stanley’s industry-leading insights and tools, with perspectives from top thought leaders in markets, economics, and global financial trends.

Best of all, your team is easy to reach and ready to help when you need it—whether it’s a question on your mind or regular performance reviews to help ensure your portfolio continues to reflect your goals. 

Ready for remote advice?

Today, working with a Virtual Advisor is simple and convenient, and you don’t have to sacrifice service to get personal planning and investment strategies that evolve with you and your financial goals.

We can help you understand more about how Virtual Advisors work, and about the unique benefits you can enjoy with Morgan Stanley Virtual Advisor. Schedule a conversation to get started.