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.”
Microsoft will continue to provide technology to U.S. agencies and the military, despite the objections raised by employees over how the products are being used, specifically with regard to immigration and border control. "We will be proactive in using our voice," said Microsoft President Brad Smith, speaking to Cheddar from the 2018 Web Summit in Lisbon, Portugal. "We think we'll be more persuasive if we're engaged than if we withdraw."
These are the headlines you Need 2 Know.
Political fixer-turned VC Bradley Tusk doesn't think it's sufficient to just bring voters to the polls ー he wants to bring the polls to them. "We know, fundamentally, democracy works when a lot of people vote, and it really doesn't work when very few people vote," Tusk told Cheddar on Tuesday.
Incoming Intuit CEO Sasan Goodarzi, currently the company's EVP of small business, tells Cheddar that the software company plans to lean on its open platform and innovations in artificial intelligence to put more money in the pockets of its customers. "There is not enough we could do for our customers," Goodarzi said Tuesday.
Cheddar's Tanaya Macheel breaks down the crypto wallet firm Blockchain's newest ventures, including its giveaway of $125 million in tokens.
It's midterms day in America! After a whopping 36 million people voted early, many are predicting record voter turnout for this midterms election. Rapper Fat Joe joins Cheddar to talk about his efforts to get young voters to the polls as part of MTVs '+1 The Vote' campaign. And, we dig into reports that Amazon is splitting its second headquarters, also known as HQ2, between two different cities.
Alexis Ohanian and Garry Tan spoke with Cheddar's Alex Heath from the Web Summit in Lisbon, Portugal about what they both look at before seeding a company. It all comes down to software.
Data collection and analysis is an increasingly crowded field, but SurveyMonkey CEO Zander Lurie told Cheddar he isn't too concerned about industry upstarts ー especially not when he has General Data Protection Regulation compliance on his side.
Reports that Amazon may split its new headquarters between two locations is raising questions about the financial incentives offered by those cities bidding to become the new hub. “One of the questions that I’m left with following this reporting that there might be two cities instead of just one ... is whether this will change the incentives that some of the cities are offering in their draft plan,” Axios reporter Shannon Vavra told Cheddar Tuesday.
As Americans head to the polls for the 2018 midterm election, some are concerned about outside actors hacking voting systems, which would be different from the misinformation campaigns that proliferated on social media in 2016. Rob Marvin, associate features editor at PC Mag, explains the different levels of vulnerabilities.
