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.”
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Amazon is stepping up its game in the fight against Apple Pay, by migrating its own digital wallet off the web and into the real world. The e-commerce giant is recruiting brick-and-mortar merchants to accept its digital wallet, Amazon Pay, putting it in direct competition with a host of other companies vying for dominance in the burgeoning digital wallet industry
Toronto Esports drops out of Overwatch Contenders, PUBG releases for PS4, and a review of the disastrous Esports Awards. Featuring MLG Co-Founder Mike Sepso, 1HP's Cait McGee, DPT PT, Logitech Head of Esports Brent Barry
As our world becomes increasingly digital, companies are increasingly turning to the "internet of things" to inform their business practices. One such company is cellphone-service provider Sprint, which recently announced a "Curiosity IoT" platform ー a network designed to turn sensor data into "actionable intelligence," according to the chief of products and solutions at the IoT division, Ricky Singh.
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These are the headlines you Need 2 Know for Wednesday, Nov. 21, 2018.
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