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.
7-Eleven introduces contactless gas payment option, allowing customers to use phones to pay at the pump. Chief digital officer Tarang Sethia talked about the company's success and future innovations.
As the coronavirus sweeps the globe, Youtube is a leading outlet for information regarding the virus. Youtube chief product officer talks prioritizing channels and videos with relevant information as well as weeding out fake news.
Amazon's head of worldwide sustainability talks the company's push to net zero carbon emissions by 2040 and investing in companies that are committed to a low-carbon economy.
Docusign continues to thrive while the pandemic impacts nearly every industry. The company plans to expand its service to document management and preparation.
Cheddar's Need2Know Podcast for Tues., June 23, 2020.
Cheddar's Need2Know Podcast for Mon., June 22, 2020.
Apple is closing 11 stores in Arizona, Florida, North Carolina and South Carolina that it had reopening just a few weeks ago.
Apple is closing 11 stores in Arizona, Florida, North Carolina and South Carolina that it had reopening just a few weeks ago.
Facebook has waded into the content creation and video game streaming space with its new Facebook Gaming app, and users reportedly clocked in 291 million hours in April.
