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.”
Despite beating the Street's expectations, Facebook shares went down more than 7 percent in after-hours trading. While the company is still growing, the numbers could signify a slowdown ahead with more digital advertising platforms entering the market as well as looming regulation.
Aircraft surveillance company Aireon is riding the wave of adoption of the satellite ADS-B surveillance network to replace radar in its role of air traffic control.
Ford's luxury line, Lincoln, announced plans to release an electric pickup truck in partnership with Rivian.
Apple's fiscal first-quarter results released Tuesday provided the latest proof that the fears hanging over the consumer electronics icon might have been unfounded. The company's profits and revenue topped analyst projections.
The human resources tech platform company brings its total funding to $143 million with the investment led by Union Square Ventures and FirstMark Capital.
The pilot program, rolled out in San José, aims to deter what has become a major source of side-eye – and safety concerns – for Lime and similar micromobility offerings.
The company raised the Series B funding led by the real estate arm of Mitsubishi to build out its three-pronged business model: a subscription service for brokers, an analytics service for tracking real estate trends, and an auction service.
General Motors on Monday announced that it plans to open its first assembly plant dedicated entirely to electric vehicles – and that it’s doing so in the United States.
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.
Cheddar's Hope King took a spin in the Yandex driverless car during the Consumer Electronics Show.
