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.”
Business software pioneer Salesforce.com is buying work chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against one of the industry’s longtime powerhouses.
Under-$50 Gadgets for Anyone on Your Shopping List
Greg Foss, senior cybersecurity strategist at VMware Carbon Black, said the security industry is watching a "significant rise" in large-scale e-skimming attacks.
Tech is the engine that enables fantasy to become reality.
This VPN service ensures your everyday internet activity remains private and secure, from web searches to video streaming and messaging.
Federal Communications Commission Chairman Ajit Pai, a Republican, says he is leaving the telecommunications regulator on Inauguration Day.
Here are the headlines you Need2Know for Tuesday, November 25, 2020:
We've rounded up 4 Cyber Monday deals on cloud storage plans to store digital libraries, share files with friends, and backup entire hard drives.
From coding and graphic design certifications to stock market and real estate intel, these are the e-learning bundles to buy.
From iPads and iMacs to wireless chargers and Bluetooth headphones, these are the Black Friday deals Apple fans won't want to miss.
