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.”
Google's Pixel event kicks off on Tuesday in New York City. The company is expected to announce three new phones, with one costing upwards of $1,000. Russell Holly, Senior Editor at Android Central and Ajay Kumar, Mobile Analyst at PCMag, give their predictions for the future of Google's hardware ecosystem.
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The Wall Street Journal reported on Monday that Google had exposed over 500,000 Google+ users' data and failed to alert authorities. The company ultimately said it would shut down the consumer version of the social network. Douglas MacMillan, the reporter who broke the story for the Journal, said Google's handling of the information is causing a lot of speculation about the tech giant's business practices.
Grocery delivery has a new player in Los Angeles: Milk and Eggs. This service connects consumers with farmers and food producers, and the food is delivered straight from the source, made fresh for every order. Kenneth Wu, CEO and founder of Milk and Eggs, said that unlike Walmart and Amazon, his company is able to completely eliminate the grocery store.
The tech giant made its decision after reports that the data of about a half million users of Google+ had been exposed. The company reportedly chose not to disclose the bug for fear of repercussions. Google said there was no evidence the information was misused.
Acclaimed music producer, DJ, and entrepreneur Steve Aoki is dipping his toe into comic books. At New York Comic Con Aoki debuted 'Neon Future,' his comic debut.
With sites like Priceline, Kayak, and Travelocity helping consumers find cheaper flights in-the-moment, Hopper is going one step further, letting customers know when to wait to buy an airline ticket by predicting when prices will go down. With a new round of funding, Hopper is going all in on artificial intelligence technology, helping consumers find the cheapest flights possible, said Dakota Smith, the company's head of growth and business.
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Facebook has announced Portal and Portal+, two video chat devices for the home that are geared towards video calling. Priced at $199 and $349, they feature A.I. technology that can automatically follow a person as they move throughout a room.
Elastic, a company that provides data services for Uber and Tinder, went public on the NYSE on Friday. The stock rose as much as 104 percent before settling at $70. CEO Shay Banon said he didn't take the company public in order to raise money but to mark the maturity of the company.
