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.”
Derrick Johnson, president and CEO of the NAACP, called for actions like an advertising boycott of Facebook for its hands-off approach to allowing racist and racially-charged posts to proliferate.
The Tennessee senator is getting behind an effort to reform Section 230 of the 1996 Communications Decency Act, which protects online services from legal liability for what users publish on their platforms.
Cheddar's Need2Know Podcast for Fri., June 19, 2020.
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From milk to canned tuna to shampoo, soy is in a good majority of our day-to-day products. It’s added to around 60% of the nation’s processed foods. Soy has been known to provide some real health benefits, like high protein. But there are legitimate health and environmental consequences that raise the question: why do we use so much soy? And should we?
Recent data shows that Quibi isn't gaining as much traction with viewers as one might expect, especially with the initial subscribers' three-month free trial period wrapping up in a few weeks.
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.
As Twitter waded into controversy for taking steps to fight misinformation and controversial remarks from perhaps its most famous tweeter, President Donald Trump, Facebook has taken the opposite tack, but with no less backlash.
