Morgan Stanley is getting into the “robo-advice” business, where software manages funds instead of people. The service, Access Investing, is aimed at younger investors, and helps them put their money with the businesses they’re most interested in.
“Forty percent of our clients have chosen to invest in a theme, and the most popular ones [are] robotics and artificial intelligence,” Naureen Hassan, Chief Digital Officer for Wealth Management at Morgan Stanley, told Cheddar.
The financial firm rolled out its Access Investing division, which focuses on advising clients online, in December. Hassan says that her team has seen a lot of engagement with from people 45 and under.
Robo-advisers, or digital investment portfolios, are not very new. The field has competitors, such as Betterment or Wealthfront, that have been making strides in the sector.
But Morgan Stanley says it’s betting on its legacy to differentiate itself in the industry.
“We think it’s the Morgan Stanley investing expertise that really differentiates it,” Hassan said. “That’s why we are offering clients choice, it just isn’t only a passive portfolio, we believe in a mix of assets.”
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Kevin Czinger, CEO and lead inventor at Divergent 3D, talked to Cheddar about how 3D printing might change car manufacturing going forward.
CEO Rob Wiesenthal said the company chose now to go public because technological innovations in ground mobility will bleed over into the air transport space.
Dozens of states filed an anti-trust lawsuit against Google on Thursday, alleging that the search giant has an illegal monopoly over the online search market that hurts consumers and advertisers.
These gadgets, grooming tools, kitchen essentials, and accessories are a steal.
Robinhood Financial is agreeing to pay $65 million to settle government charges that it failed to disclose the full details of its dealing with high-speed traders and didn’t get the best prices for customers trading on its app.
Peter Szulczewski, Wish CEO and founder, talked to Cheddar about the e-commerce platform's public debut.
The price of bitcoin has risen above $20,000 for the first time, as the speculative digital currency topped its previous peak reached shortly after it became tradable on Wall Street three years ago this month.
Amazon-owned Zoox has unveiled its first self-driving robotaxi that can seat up to four passengers, has no steering wheel, can run for 16 hours on a single charge, and can travel at up to 75 miles per hour.
It was an extraordinary year for the video game industry which culminated in, of course, the big launches of the anticipated next-generation consoles, the PlayStation 5 and the Xbox Series X/S.
