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.”
Following a 2018 Supreme Court ruling year that cleared the way for sports gambling, fans in seven states can bet on the upcoming Super Bowl for the first time ー and leaders in the budding industry are anticipating the Big Game will deliver their biggest day yet. “We expect the Super Bowl to be our single biggest day in the company’s history,” Mike Raffensperger, the chief marketing officer for betting platform FanDuel, told Cheddar.
Microsoft inked three major partnerships in just one month ー and each union has a common theme, according to the company's executive vice president of worldwide commercial business."I think to sum it up, we're about empowerment," Judson Althoff told Cheddar. "We're about empowering our customers to achieve their potential."
Listeners have come to expect their podcasts free of charge. But Pocket Cast has still managed to become one of the leading podcast platforms as a paid app. The company was recently acquired by NPR, WNYC Studios, and WBEZ Chicago, in a move that CEO Owen Grover told Cheddar will only move the medium forward.
President Trump's longtime ally Roger Stone was arrested Friday in connection with Robert Mueller's Russia probe. The FAA reported delays at several major airports across the U.S. because of an increase in employees taking sick leave at air traffic control centers. And Lois Backon, head of Corporate Partner Marketing for JPMorgan Chase, tells Cheddar how the bank partners with celebrities to share their financial planning tips.
A new startup is using the technology pioneered by Amazon in its cashier-less stores and applying it directly to the grocery cart. "Checkout is by far one of the most annoying experiences in physical retail," said Caper CEO Lindon Gao in an interview Friday on Cheddar. Caper will allow customers to bypass the checkout line completely and pay for their purchases directly via an interface on their carts.
T-Mobile will join the streaming wars in the next few weeks with a free, ad-supported mobile video service, according to a source familiar with the matter. The company has plans to launch the mobile TV service based on licensed Xumo technology through its Layer3 division, which provides free over-the-top (non-cable or satellite) television and video-on-demand services, the source said.
Cord cutters, rejoice! YouTube TV, Google's ambitious live-television streaming service, is going nationwide. The platform will soon add 95 new markets, making it available to 98 percent of U.S. households, Google announced Wednesday ー just one of several major announcements in the streaming industry this week.
Pennsylvania's new, relaxed approach to cryptocurrency regulation is narrow in scope, but could serve as a model for other state regulators adopting a "lighter touch approach," said Drew Hinkes, co-founder and general counsel at Athena Blockchain.
Major players in retail and tech are shaking up the health care industry with massive consolidation. But just as some new unions in the industry are forming, others have shown signs of instability. Amazon, a player that seems to dominate any field it enters, is well positioned to exploit those weaknesses and find itself at the top of another industry once again.
The power of Black Twitter, the name given to a loose network of black Twitter users behind both viral memes and social campaigns, is the premise of "Power Star Live," a 30-minute show that will live stream every Wednesday on the social platform. Jessie Woo and co-host Xilla Valentine aim to dissect how the Twitter users influence pop culture.
