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.”
Marcus is Goldman's two-year-old consumer division for savings and loans. Dustin Cohn, head of brand and marketing communications at Marcus, said that the products are designed for consumers who are leaving money on the table in terms of unclaimed interest.
The speculation about Amazon's new headquarters shifted on Monday from which city will be chosen to how many cities. The Wall Street Journal reported Monday that the Seattle-based company may split its new headquarters between two different cities, rather than picking just one.
Rumors are flying that Amazon has narrowed down its list of HQ2 contenders. The tech giant is reportedly looking closely at Crystal City, Virginia; Dallas, Texas; and New York City. Softbank CEO Masayoshi Son breaks his silence about the murder of Saudi journalist Jamal Khashoggi. Plus, former White House communications director Anthony Scaramucci joins Cheddar to talk Trump, miterms, and his new book.
Welcome to Apple Stocks Weekly by Cheddar, when we count down the top stories, from Wall Street to Silicon Valley, that moved markets and had investors, business leaders, and entrepreneurs talking this week.
Apple shares plunged after the company reported mixed results in its most recent quarter. Georgia's race for governor is getting heated as midterms are just days away. And Katie Harbath, global politics and government outreach director at Facebook, tells Cheddar how the social media network is cracking down on misinformation ahead of the election.
Apple shares continued to tumble on Friday, as investors and analysts processed the tech giant's announcement it would no longer publish individual iPhone, iPad or Mac unit sales in future earnings reports. Apple executives have insisted the metrics are no longer relevant to investors ー but some analysts don't see it that way.
We are heading towards a buyers market, and technology is making it easier to sell your current home to buy a new one. Quinn Hawkins, Head of Redfin Now, breaks down what is iBuying and how it works.
Next year may signal a more widespread adoption of crypto among institutional investors ー if the current momentum continues, that is. Grayscale, a veteran digital currency investment firm, saw record inflows, $330 million in the first three quarters of 2018 ー most of which came from institutional investors including hedge funds, endowments and pensions, according to the managing director.
George Schutlze, founder of Schultze Asset Management, is a former Tesla short-seller who covered on the day Tesla CEO Elon Musk released controversial "funding secured" tweet. That didn't work out well for Schultze, who said he's considering a new short position based on the company's cash flow problems.
After months of damaging headlines and privacy mishaps, Facebook may be down, but it's not out ー especially not in the case of the U.S. midterms, according to the company's director of outreach. Katie Harbath, global politics and government outreach director at Facebook spoke with Cheddar's Hope King about fighting fake news from the company's "war room" in an exclusive interview.
