Bismillahir Rahman Nir Raheem
Allah Tala has mentioned in the Qur’an, in ayah 120 of Surah Hud:
و كلا نقص عليك من انباء الرسل ما نثبت به فؤادك و جاءك في هذه الحق و موعظة و ذكري للمؤمنين

All of this information concerning the messengers that we relate to you, O Muhammad, is to make your heart firm; and put your heart at ease so that you might take an example from your brothers and be patient like they were. True and certain information has come to you in this news that Allah has revealed to you, and an advice and reminder for the believers.
In this ayah, Allah specifically mentions the believers because they are the ones who benefit from the Qur’an. (Ibn Kathir/Jalaalain)
Once Imam Junaid (Rahmatullahi Alaihi) mentioned, “Stories are one of the armies of Allah by means of which he strengthens the hearts of his Auliyah.” Someone asked if he had any proof for this statement. He replied, “The proof of this is the statement of Allah Tala: و كلا نقص عليك من انباء الرسل ما نثبت بي فؤادك. All of this information concerning the messengers that we relate to you, O Muhammad, is to make your heart firm…”
Muhammad Ibn Yunus (Rahmatullahi Alaihi) said, “I haven’t seen anything more beneficial for the heart than the mention of the righteous people.” (Rissalatul Mustarshideen)
In the 77th year of the Hijrah, Sulaiman Ibn Abdul-Malik (Rahmatullahi Alaihi), the Khalifah of the time performed Hajj with his sons and attendants.  After making Tawaf, Sulaiman Ibn Abdul-Malik inquired of his attendants about the location of a certain individual. The attendants informed him that the individual was in the western corner of the Masjidul Haram.
When the Khalifah started moving in the indicated direction, his attendants started to clear a path for him. He stopped them, saying, “This is a place where the king and the subjects are equal, and no one is better than another except due to acceptance (from Allah) and Taqwa. Many disheveled and dusty people come before Allah and receive such acceptance that even the Kings do not get.” Having said this, he went towards the individual he had been asking about.
When they reached the individual they found that he was engaged in Salah and there was a group of people sitting to his left, right, and behind him. The Khalifah sat down at the back of the gathering, and made his sons, who had accompanied him, sit down there as well. While they were waiting for the man to finish his Salah, the sons looked at this person that the Ameerul Mu’mineen and others were waiting on. What they saw was an older man of Habashiy descent with black skin, extremely curly hair, and a flat nose.
When the man finally completed his Salah he turned in the direction of the Khalifah who greeted him with Salaam. After the man returned his greeting the Khalifah drew closer so he could ask him some questions about Hajj. Sulaiman Ibn Abdul-Malik asked the man one question after another about the rituals of Hajj, and the man answered each and every question in such detail that he left no room for any other question to be asked. Not only did he answer in great detail, he also connected all of his replies back to a statement of the Messenger of Allah (Sallahu Alaihi Wa Sallam).
Eventually the Khalifah finished his questions. He thanked the man and got up to preform Sa’i between Saffa and Marwa. On the way there they heard an announcer call out, “O Muslims! No  one is allowed to give fatwa except Ataa Ibn Abi Rabaah, and if he is not present, then Abdullah Ibn Abi Najih!” One of the sons turned to Sulaiman Ibn Abdul-Malik and exclaimed, “The Ameerul Mu’mineen’s agent said such-and-such, but you went by that man who didn’t even give the Khalifah the respect he deserves!”
The Khalifah replied, “My dear son, that individual that you saw us go to and behave with humility towards… he is Ataa Ibn Abi Rabaah, the one who gives fatwa in the Masjidul Haram and who inherited this great status from Ibn Abbaas (Radhiallahu Anhu). My dear sons, Learn Ilm because by means of it the lowly become honored, the lazy become alert, and slaves reach the status of kings.”
(Taken from Suratun Min Hayatit Ta’bieen with some additions and omissions.)