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.”
Scott Belsky, the chief product officer at Adobe and author of 'The Messy Middle,' told Cheddar that good design now shapes how we use technology, on everything from new voice tech to augmented reality.
Astronaut Scott Kelly saw the sun rise and set about 32 times each day during the 520 total days he spent in outer space. He also spent considerable time looking at Planet Earth. Naturally, it changed his perspective ー in the most literal sense. Kelly shares that new perspective through images in his latest book, "Infinite Wonder: An Astronaut's Photographs from a Year in Space."
The internet can be a toxic place ー but it doesn't have to be, according to Deepak Chopra. The bestselling author and new age advocate is helping to build a healthier internet through a new Amazon Alexa skill that delivers his daily "intentions." The skill is a result of a partnership with A.I.-provider LivePerson's innovation lab, LivePerson Studios.
Credible.com is revamping how people refinance their mortgages ー in the time it takes to download an app. The platform has launched what it calls a modern mortgage marketplace, providing users with real-time rates from multiple lenders. Stephen Dash, founder and CEO of Credible.com, said it was time to rebuild the mortgage shopping and application process.
Shankar Chandran, managing director of Samsung Catalyst Fund, told Cheddar at the Web Summit that Samsung is always looking for the next "trillion-dollar opportunity." The gold rush in Silicon Valley is all about data and A.I. now, he said.
Photo-editing app VSCO has already hit 2 million paid subscribers after crossing the 1 million subscribers threshold just in the first quarter of 2018. “It’s really a testament to how consumer-driven we are,” VSCO CEO Joel Flory told Cheddar. VSCO charges $20 per year for its subscription, and the business is now operating at break-even, Flory said.
Disney unveiled the name of its streaming service, Disney +, and some we're less than impressed. Rich Greenfield, analyst at BTIG, said that may be just fine for Disney.
These are the headlines you Need 2 Know.
Disney announced earnings for its latest quarter on Thursday, posting better than expected earnings and revenue as the company gets ready to launch its own streaming service to compete with Netflix and Amazon. Disney is also focused on closing its acquisition of 21st Century Fox.
OkCupid is getting political. The popular dating app is finding that millennials are prioritizing politics more than ever when looking for a partner in love. Melissa Hobley, CMO of OkCupid, said the app has been asking its users more questions about their political views and using that information to improve their matches.
