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.”
Anne Mahlum isn't mincing words: her start-up is for sale. The founder and CEO of Solidcore, the latest boutique fitness studio with an NYC flagship, says she's expanding the business with an eye on a sale within five years.
The markets looked to recover from a major sell-off on Wednesday. The Dow closed down more than 800 points. The Florida Panhandle is reeling after Hurricane Michael tore through the region causing catastrophic damage. And Razer launched a handful of new products, including the Razer Phone 2, to make gaming more accessible. Kevin Allen joins Cheddar to explain what makes the products stand out in the gaming world.
Shopify, the Canadian e-commerce site, is finding its place offline opening its first retail space ever in Los Angeles. Satish Kanwar, VP of product at Shopify, said that the company's goal is always to make entrepreneurship more accessible.
The competition is on for new medicinal marijuana licenses in New Jersey after Democratic Gov. Phil Murphy prioritized cannabis production when he took office. The CEO of one potential licensee, Moxie, thinks the state has "passed the tipping point" for accepting medical pot at the state level.
Chad Morganlander, portfolio manager at Washington Crossing Advisors, and Daniel Ives, managing director at Wedbush Securities, urged caution and long-term thinking for investors not used to this kind of volatility.
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The Dow was back to session lows late Thursday morning after briefly entering the green following Wednesday's widespread sell-off.
Google's community-based traffic app epanded its carpool service to customers in the U.S. on Wednesday. Josh Fried, head of carpool at Waze, said the main goal is to reduce traffic and make it easier for its customers to carpool effectively.
In July, AT&T made a strategic investment in Magic Leap, the high-profile augmented reality start-up. It was a key move as the telecoms giant continues its push toward winning the 5G race. Cheddar caught up with John Donovan, CEO of AT&T Communications, to discuss the tie-up and what 5G will mean for consumers.
DeKryptic is combining the fashion industry and the technology industry to bring your clothes to life through augmented reality. Christopher Fermoselle, Co-Owner and Creative Director of DeKryptic and Boosted Art, demonstrates how his mobile app can make the images on garments animate, and explains why that's a valuable marketing tool.
