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.”
David Marcus, the head of Facebook’s Calibra, reportedly told banking seminar attendees that the project is open to having a series of stablecoins pegged to specific government-backed currencies.
CEO Christophe Georges of British luxury automaker Bentley Motors said the company's first, fully electric vehicle will be in showrooms by 2025, with plug-in hybrid models arriving in 2023.
These are the headlines you Need 2 Know for Friday, October 18, 2019.
The announcement of what Ford is calling the "largest vehicle charging network in North America" comes almost a year before the company's planned release of its first all-electric vehicle
Speaking at Georgetown University, Zuckerberg said he recognized that the U.S. and nations worldwide are facing concerning social tensions but warned against the impulse to restrict free speech online.
These are the headlines you Need 2 Know for Thursday, October 17, 2019.
Without mentioning President Donald Trump — by far the most high-profile and contentious leader on Twitter — the company added that tweets with a "clear public interest" would not be removed.
These are the headlines you Need to know for Wednesday, October 16, 2019.
According to insurance carrier Hiscox, cyberattacks are costing small businesses $200,000 on average and putting 60% out of business within six months of being victimized.
Today's Myth: Online business privacy is dead. Brian Fanzo, founder of iSocialFanz, joins Cheddar to break down this myth and share how you can keep your business safe.
Offshore wind remains a virtually untapped market – one estimated to be worth close to $70 billion, with the promise of supplying such lucrative East Coast markets as New York City, Boston, Baltimore, and Philadelphia.
