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.”
Tesla's board of directors will reportedly hold a meeting next week with investors to discuss the possibility of taking the company private. The board may urge CEO Elon Musk to recuse himself from the talks.
Samsung showed off its new Galaxy Note 9 smartphone at its Samsung Unpacked event in New York Thursday. The Note 9 comes equipped with double the storage of any other smartphone on the market and a camera that automatically tells you if the picture is blurry.
And we're joined by actor Luke Evans, who is lending his voice to a new audio experience from Stella Artois. He talks about how he stays in the moment and cherishes his 'me time.'
Samsung's most powerful smartphone to date, the Galaxy Note 9, has a day-long battery life and a Bluetooth-enabled stylus that works like a remote control. Cheddar's Hope King demos the new phone and discusses its other features.
Crypto-bandits are imitating celebrities and CEOs on social media, trying to steal Bitcoin and other cryptocurrencies. Vinny Lingham, co-founder and CEO of Civic, and Charlie Shrem, a founder of the Bitcoin Foundation, told Cheddar about their experiences with scammers.
These are the headlines you Need2Know for Friday, Aug. 10.
The gamer communications hub, with 150 million users, will sell indie titles curated by its staff in a new online storefront. "We have a lot of people here that love playing games and have really great taste, and so we're gonna pick out stuff we think is worth your time," says CEO Jason Citron.
Tinder’s business is exploding. The dating app is on track to generate $800 million in revenue this year, its parent company Match Group said this week.
Roku is offering online and OTT viewers of its own channel fewer ads than linear TV, says Rob Holmes, the vice president of programming and engagement. The platform will also have "Featured Free" content from partners including ABC, Fox, and the CW.
Music mogul Wyclef Jean wants to be the first rapper to innovate a hip-hop guitar. Jean looks to Dr. Dre and Jimmy Iovine as music innovators, and hopes to mirror their technical success in the industry.
Music mogul Wyclef Jean wants to be the first rapper to innovate a hip-hop guitar. Jean looks to Dr. Dre and Jimmy Iovine as music innovators, and hopes to mirror their technical success in the industry. Jean also tells Cheddar cannabis is the health-aide of the future.
Snapchat will not remove a filter that promotes InfoWars and the conspiracy theorist Alex Jones, the company told Cheddar on Wednesday. A Snap spokesperson told Cheddar that the lens Jones promoted on Twitter wasn’t created by InfoWars or Snap, but rather a third party.
