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.”
After the Pulse Nightclub shooting in Orlando in 2016, Sarah Ullman felt called to action. The Los Angeles-based filmmaker is the founder of "One Vote at a Time," a Super PAC created to stop gun violence. She spends her days making free campaign ads for politicians who support gun control policies and are running in competitive districts.
Tesla reportedly made a record 80,000 vehicles in the third quarter, marking a welcome change of subject for a company and CEO buffeted by scandal. Sean O'Kane, reporter for The Verge, and John Reed Stark, an SEC attorney, discussed the future of the company and how the settlement with regulators will affect Musk personally.
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With Facebook racing to contain the damage from its latest -- and largest ever -- security breach, Michael Nuñez, the deputy tech editor for Mashable, said that users are starting to get smarter about what kind of data they share with the company.
Verizon launched its first 5G network in four U.S. cities Monday. One possible use for the technology will be in rolling out self-driving vehicles. Hans Vestberg, CEO of Verizon Communications, said that while it will take some time for fully-autonomous cars to be deployed, 5G will help in solving connectivity and latency issues.
Hans Vestberg, CEO of Verizon Communications, said that the newest 5G network that Verizon is launching in four new cities, is the answer for cord-cutters. The network is the fastest on the market, and Vestberg said it's "a new way to get TV into your home."
Wells Fargo has officially launched a new digital organizer "Control Tower" within its mobile banking app, so customers nationwide can track their increasingly complex and scattered financial footprints. Ben Soccorsy, head of digital payments for Wells Fargo Virtual Channels, told Cheddar, "Customers want the ability to control their data and share it when and how they want."
Tesla looked to claw back its losses Monday after Elon Musk settled a lawsuit with the SEC, agreeing to pay a $20 million fine and step down as chairman for at least three years.
Rafat Ali, the CEO of Skift, took his employees to Puerto Rico to see the destruction from Hurricane Maria firsthand, which became the inspiration for the Skift Foundation. He said the foundation supports destinations and small businesses in the hospitality and travel sector that need additional resources.
Relief for migraine suffers may, at long last, be imminent. With the FDA approving Eli Lilly's Emgality drug, Christi Shaw, president of Lilly Bio-Medicines, expounded on the drug's potential efficacy. The company has said it will offer the treatment to chronic migraine suffers with commercial insurance for free for a year.
