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.”
Facebook announced this week it removed 32 pages and accounts suspected of midterm election tampering. But New York Times reporter Kevin Roose tells Cheddar there's still not a lot of information about who's behind the meddling.
Walmart's tech incubator, Store No. 8, is entering the virtual- reality market. Katie Finnegan, CEO and co-founder of virtual reality start-up Spatialand and founding principal of Store No. 8, discussed the future of VR shopping on Cheddar Wednesday.
Apple seems to have avoided the fate that sent many tech stocks plunging last week, with its earnings report sending shares to all-time highs and bringing the company oh-so-close to the $1 trillion mark. Mike Murphy, Quartz Reporter, tells Cheddar how the company will eliminate lingering fears of a slowdown on iPhone sales.
These are the headlines you Need2Know.
The tech giant's pricier iPhones and growing services business helped it to beat earnings expectations for the latest quarter, sending shares up on Wednesday. If the stock hits $203.46, it'll become the first $1 trillion market cap company in the U.S.
Sara Hsu, Associate Professor of Economics at SUNY-New Paltz, knows the trade war will affect tech companies in both the United States and China, but it's Chinese firms like Alibaba and Tencent that will be most hit.
The website for spirits enthusiasts wants to be the premier source for all things booze, and since company's founding in 2014, it has advised millennials on what and where to drink, as well as how to mix the latest concoctions. CEO Adam Teeter discusses his plans.
Apple shares rose after-market after the company posted better than expected earnings and revenue for its latest quarter. The company sold fewer of its flagship iPhones but at a higher price, helping revenues top $53 billion. Sales from its services business, which includes its App Store, Apple Music, and iCloud rose 31 percent to $9.5 billion.
After losing $136 billion in market cap in less than a week, Facebook could look to its Instagram Stories platform to boost its slowing ad sales growth and improve its outlook, says Madison Malone Kircher, an associate editor at New York Magazine.
Senator Mark Warner of Virginia is leading the charge against big tech, but he may not accomplish much unless Democrats make major gains in midterm elections, according to Axios reporter David McCabe.
