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.”
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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.
Sergeant First Class Christopher Jones talked to Cheddar about how the U.S. Army eSports division, launched out of Fort Knox, Tennessee as a recruitment effort, is thriving amid the coronavirus pandemic.
The tech giant is shifting focus from creating envious workspaces to allowing many of its employees to work from the comforts of their own homes.
The business-to-business platform saw a 100 percent year-over-year increase in the number of transactions involving U.S. buyers or sellers, according to John Caplan, president of Alibaba.com in North America and Europe.
Notorious short-seller Carson Block and his equity research firm Muddy Waters has accused Chinese education company GSX TechEDU ($GSX) of fabricating student numbers through the use of bots.
Apple and Google on Wednesday released long-awaited smartphone technology to automatically notify people if they might have been exposed to the coronavirus.
Chris Soukup, CEO of Communication Service for the Deaf discussed with Cheddar the challenges facing the community with a lack of resources and much of the new normal stemming from stay-at-home orders.
Zipcar President Tracey Zhen talks about new features that fit into the current social-distancing world.
Director of the Rhode Island Labor Department, Scott Jensen discussed how Amazon's tech aided the state amid the widespread unemployment during the pandemic.
