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 stock remains one of the most divisive on Wall Street.
On one side, there are the bulls who love CEO Elon Musk's clean energy vision. On the other, a legion of short-sellers who believe financial reality will eventually catch up with the company. Galileo Russell, founder of HyperChange TV, and Mark Spiegel, managing member of Stanphyl Capital, joined Cheddar to make their bull and bear arguments for Tesla.
The electric carmaker's second-quarter earnings report only widened the rift between the bulls, represented by Galileo Russel of HyperChange TV, who says Elon Musk is a visionary, and bears like Mark Spiegel of Stanphyl Capital who says the company's financials are inescapable.
PepsiCo CEO Indra Nooyi is stepping down after 12 years with the company. She helped push the soda giant into exploring healthier food and beverage options in light of changing preferences. Longtime Pepsi veteran Ramon Laguarta will replace Nooyi.
Disney, Fox, Snap, Dropbox, and others report earnings this week as earnings season winds down. Kristen Scholer and Nora Ali discuss what to expect from these quarterly results.
The trade war between the U.S. and China escalated even further after Chinese state media called out President Trump specifically, accusing him of extortion. Andrew Egger, reporter at The Weekly Standard, joins Cheddar to discuss.
The tech giants' decisions to block content by the conspiracy theorist Alex Jones may encourage other platforms to crackdown on his incendiary rhetoric, says Mashable's Heather Dockray. "The claims he's making have always been dangerous," Dockray says. "But they seem particularly paranoid as of late."
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The stationary bike and treadmill maker is now valued at over $4 billion after its latest funding round. Maureen Farrell, reporter at the Wall Street Journal, tells Cheddar that most companies claim to be the Netflix of their industry, but in Peloton's case, it may actually be true.
Shares of the connected security camera maker rose as much as 35 percent from the stock's IPO price, but CEO Matthew McRae isn't worried he left money on the table. McRae also told Cheddar that Arlo, a Netgear spinoff, is "more friends than enemies" with strategic partners Amazon and Google, which offer competing devices.
The world's most valuable publicly traded company may actually be worth closer to $1.5 trillion, says Eric Jackson, founder and president of the investment firm EMJ. "This is a company that should be valued as a services business," he says, and that it should trade at a higher multiple to sales.
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Junta Nakai, global head of business development at fintech company Selerity, says automation in the financial industry has so far been primarily used by the consumer. But his technology will fundamentally change the way traders and financial analysts work.
