1302 ET - There are expansion and consolidation opportunities in the retirement income market as AI improves drug discovery and development and ultimately boosts life expectancy, Morgan Stanley analysts write in a note. "As individuals spend more years preparing for and living in retirement, we expect the retirement value chain to extend beyond accumulation toward solutions that combine investment management, sustainable income, longevity protection and advice," the analysts write. The current fragmented nature of the retirement income market creates room for innovation, partnerships, and consolidation as AI's impact on longevity becomes increasingly clear. They name BlackRock. Apollo, LPL Financial Holdings, and Raymond James as among the possible beneficiaries of this shift.