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.”
Louis Hsieh, the CFO of NIO, which went public on the NYSE Wednesday, said that the Chinese regulations and restrictions on the automotive industry have left no choice but to prioritize electric vehicles.
Snap Inc. opened at an all-time low Wednesday morning after BTIG analyst Rich Greenfield downgraded the stock and gave it 12-month price target of $5 a share. The stock fell about 10 percent to start the day.
Ganesh Bell, the president of Uptake, said that his company's software will be able to predict when machines will fail before they do, helping avoid costly mistakes. Uptake uses artificial intelligence in the industrial space for big business in order to streamline their processes.
Something different looms over this year's annual Apple keynote: an escalating trade war with China, a country on which the company is so dependent. What will that mean for the consumer? Plus, could there be some surprises in store at Wednesday's event?
Craig Woerz, managing partner at Media Storm, said a certain amount of regulation might be good for an ad industry buffeted by concerns over transparency.
Apple caused more than a few waves last year when it rolled out its first $1,000 iPhone. The company will announce the latest set of products on Wednesday, days after it wrote to the government that it would be forced to raise prices because of the latest tariffs levied against China. Quartz's deputy tech editor Mike Murphy breaks down what to expect.
These are the headlines you Need 2 Know.
StreetCred, launching in New York, crowdsources location data and incentivizes users to submit information with Bitcoin. The location data that Google, Apple, and others own is prohibitively expensive for entrepreneurs to buy, said StreetCred CEO Randy Meech, who hopes his company can change that.
The GM brand is concerned with the long-term effects of tariffs, said president Steve Carlisle. As Caddy launches a new crossover, the XT4, the Chinese market will play a pivotal role in whether the iconic American nameplate can take market share from BMW and Lexus.
These are the headlines you Need 2 Know.
