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.”
SpaceX, over the weekend, unveiled its new prototype spaceship: Starship. The ship is set to be the most powerful rocket in the world and is the latest development in the company's decades-long pursuit to facilitate interplanetary travel.
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.*
Now people in New York City, Panama City, Florida, and Boise, Idaho can hook up to the next generation wireless network. This brings the total number of Verizon’s 5G-capable cities to 13.
Cheddar breaks down the benefits of Corvid, a Wix tool that business owners can use to further customize their sites.
Peloton priced shares at $29 after the bell Wednesday, valuing the company at $8.06 billion as it prepares to make its public debut Thursday. That's at the high end of the original $26 to $29 price range Peloton was targeting. The company raised $1.16 billion in the offering.
As pressure mounts to detect and combat the spread of deepfakes, startups like Canny AI are embracing the technology and attempting to commercialize it.
The president and CEO of eBay Devin Wenig is stepping down, and the company's senior vice president and chief financial officer Scott Schenkel will take his place as interim CEO.
Thygesen says Google has done more good than harm for the industry, allowing brands with smaller budgets to purchase advertising.
Fact of Fiction: Tools, technology, and automation decrease the time small business owners need to spend online. Brian Fanzo, founder of iSocialFanz, joins Cheddar break down this myth and share how to strategically streamline operations at your business.
Neumann had faced increasing pressure to leave the position following reports of indulgent and impulsive behavior.
