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.”
Brian Elliott, Slack VP and head of Future Forum, joined Cheddar to discuss the findings of a survey that finds people adapting to remote work amid the pandemic and probably beyond.
Singer Ricky Martin and music engineer, Michael Seaberg, joined Cheddar to discuss the launch of a new digital entertainment company. The company is focusing on "orbital audio" technology that enhances the listening experience.
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.
Waymo is allowing the general public to hitch a ride in its driverless autonomous vehicles in Phoenix.
Grammy-winning singer Mary J. Blige, and Linda Goler Blount, CEO of the Black Women's Health Imperative, joined Cheddar to discuss a new Breast Cancer Month initiative encouraging Black women to get mammogram screenings.
Recent victims of ransomware attacks span the public and private sectors and include Universal Health Services, one of the largest hospital systems in the U.S., and the Clark County School District in Las Vegas.
Democratic lawmakers are calling for Congress to rein in Big Tech, possibly forcing Facebook, Google, Amazon, and Apple to break up their businesses.
Julie Samuels, executive director at Tech: NY, joined Cheddar to discuss the COVID NY Alert app that will be used for contact tracing in New York.
Tim Kendall, CEO of Moment and former Pinterest president, joined Cheddar to discuss the harrowing effects of social media use and how "big social's" methods are harming users.
Lee Brown, VP and global head of advertising business at Spotify, joined Cheddar to provide some insight into what exactly Gen Z is looking for.
