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.”
Payment processer, Paya, is debuting on the Nasdaq after going public through a SPAC. Jeff Hack, Paya CEO, joined Cheddar to discuss why it was the right time to go public
Nokia says it has been tapped by NASA to build the first cellular communications network on the moon.
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.
Solar tracking company, Array Technologies, has made its trading debut. Jim Fusaro, Array Technologies CEO, joined Cheddar to discuss the discuss why it was time to take the company public.
On the heels of the latest Apple Event, Verizon launches nationwide 5G service. Ronan Dunne, Verizon Consumer Group CEO, joined Cheddar to discuss the launch and offerings that customers can expect from the service.
Online used car dealer, Shift, is set to go public through a SPAC. George Arison, Shift co-CEO, joined Cheddar to discuss its future and the unforeseen rise of car purchases amid the coronavirus pandemic.
Apple unveiled four new iPhones equipped with technology for use with faster new 5G wireless networks.
Disney is reorganizing its business units to focus even more on streaming. Its Disney Plus, Hulu and ESPN Plus services have more than 100 million subscribers.
Facebook says it is banning posts that deny or distort the Holocaust and will start directing people to authoritative sources if they search for information about the Nazi genocide.
U.S. Rep. Ken Buck (R-Colo.) joined Cheddar to discuss how Congress and the judiciary should approach big tech monopolies. Buck was clear that the Democrats and Republicans, however, disagree on just how to go about shrinking the tech giants.
