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.”
The largest financial hub in the world with 20 million consumers, New York is an integral part of achieving mainstream and institutional adoption.
Facebook is expected to report first-quarter earnings and revenue in extended trading on Wednesday, and investors will be watching for clues on how the social network plans to monetize its key Stories feature.
Samsung will not debut its Galaxy Fold smartphone in the U.S. on Friday, as originally planned. “You can’t make a second impression,” a tech reviewer tells Cheddar.
T-Mobile’s new bank account might not pose a competitive threat to the biggest U.S. banks, but it’s a strong competitor to the many startups vying to shape how people save and manage their money.
Pinterest made its market debut Thursday morning trading shares on the New York Stock Exchange at $23.75, nearly 25 percent higher than its initial public offering price.
Facebook announced on Wednesday a comprehensive ban on white nationalism and white separatism, two ideologies that the company previously viewed as different from white supremacy, which the social network blocked in 2018.
With just nine months until California implements the strictest data privacy law in the nation, the vast majority of businesses operating in the state are not compliance ready, a new report found.
There's a phenomenon on the internet called the "Streisand Effect," whereby a person's attempt to suppress information ends up widely publicizing that very same information. It was named after a situation an incident when Barbra Streisand tried to keep images of her Malibu mansion off the web and inadvertently drew massive amounts of attention to it. And it's why Devin Nunes' mom was trending on Twitter Tuesday morning.
Snap Inc. plans to announce its long-rumored gaming platform for developers next month. The mobile game platform, internally codenamed “Project Cognac,” will feature a handful of games from outside developers designed to work specifically in the Snapchat app.
Editor's Note: On Wednesday afternoon, Cheddar Business erroneously reported that a Circle executive had left the company. A company spokesperson has confirmed that the executive remains an employee of Circle. Cheddar Business regrets the error.
