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.”
Scott Wolfe, CEO of Levelset, says that money will be going toward research and development to ultimately help streamline the payment process and allow contractors to easily stay in compliance.
Satya Nadella is the CEO of the World's Most Valuable company and was named Fortune's Businessman of the year.
The vehicles' cheerleaders, chief among them Tesla CEO Elon Musk, maintain that self-driving vehicles, while susceptible to accidents, are still safer than human drivers.
These are the headlines you Need 2 Know for Thursday, December 26, 2019.
In 2009, going to Target or Walmart to buy the newest album was still the norm for most people. However, that trend would fade by the end of the decade. Now paying a monthly fee for a subscription music service that gives you access to the latest music is mainstream.
Former Uber CEO Travis Kalanick will resign from the board next week, effectively severing ties with the ride-hailing company he co-founded a decade ago.
By next year you could be banking with Google or Uber, and instead of moving dollars around you could be thinking about new currencies issued by other governments — or Facebook. Here are five themes to watch in 2020.
Cheddar's Michelle Castillo looks ahead to see the trends that will dominate the world of streaming entertainment in the upcoming year.
A look back on the hits and misses from last year's crystal ball on business, tech, politics, and culture.
These are the headlines you Need 2 Know for Monday, December 23, 2019.
