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.”
Snap has hired a new chief business officer and chief strategy officer. The news comes a day before the company's earnings release and as Cheddar's Alex Heath reports an internal survey suggests 40 percent of Snap employees don't plan to stay around very long.
After Trivago's latest earnings report on Wednesday, it can once again claim profitability, a milestone the CEO hopes will restore faith in the travel-booking platform.
"I think for us it was super important to get back to profitability, to really show what this company can achieve and to gain confidence and to show the markets, 'Hey, Trivago can be a profitable company,'" Rolf Schroemgens told Cheddar Wednesday.
Tesla shares are surging as investors prepare for the company to release quarterly earnings Wednesday after the markets close. President Trump criticized Federal Reserve Chair Jerome Powell (again) in an interview with the Wall Street Journal. And Kerry Bishé and Corey Stoll join Cheddar to talk about their roles on Amazon's new series 'The Romanoffs.'
Stocks declined sharply Wednesday afternoon, with the Nasdaq recording its biggest monthly drop in almost a decade, as bad housing news and global trade concerns added to another tumultuous day on Wall Street.
Apple CEO Tim Cook made his most forceful comments yet on the privacy concerns plaguing the tech industry, telling a conference in Brussels, Belgium that a "data-industrial complex" has led to eroding privacy rights around the world. Cook then called on the U.S. to adopt a landmark federal privacy law like the GDPR that went into effect earlier this year in the EU.
Snapchat employees are looking to jump ship in growing numbers after a botched app redesign and drop in stock price soured many on the company’s future, according to an internal, anonymous survey.
Markets may have closed off their lows of the day, but Jack Kramer, co-founder and co-CEO of MarketSnacks, said there's still plenty that could weigh on investors over the next year.
Teens are abandoning Snapchat and turning to Instagram and Brian Deagon, senior reporter for Investor's Business Daily, said that Snapchat could likely not recover from its recent blunders.
Notable short-seller Andrew Left of Citron Research has turned positive on the electric-car manufacturer. But Daniel Sparks, contributing senior tech analyst at Motley Fool, said the call may be more of a short-term bet.
Facebook is unveiling a redesigned, simplified version of its Messenger app that recalls the basic chat service the social media giant released as standalone app in 2014. Stan Chudnovsky, Facebook's head and VP of Messenger, told Cheddar's Hope King that the purpose of the overhaul was to "go back to the roots" with a simple, easy-to-use interface that prioritizes chats between friends.
