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.”
The platform aggregates top stories through high-profile curators, which increases the "chance of bringing in the best content that's obviously not fake," says CEO Ian Myers. NewsPicks is owned by a Japanese media company that also acquired Quartz last week.
Twitter suspended 70 million fake accounts in May and June, and some wonder if this will result in a decline in users in Q2. However, this could work in Twitter's favor because many of these accounts aren’t actual users and just end up distorting those numbers, says Matt Binder, tech reporter for Mashable.
The Swiss start-up paid $12 million to obtain the domain name, Cheddar has learned. Previous owner Matt Blaze, a cryptology researcher and professor at the University of Pennsylvania, originally registered the domain in 1993. Cheddar’s Tanaya Macheel gives us the details.
The dockless bike sharing company is partnering with the department of transportation to launch a pilot program in a city that is plagued with bike theft. But Lime's focus on hiring locally and working with communities will help it survive Manhattan, says Caen Contee, vice president of marketing, business development, and expansion.
The landscape for IPOs this year has evolved and "it seems like the investors right now are clamoring for anything tech-ish,” says Maureen Farrell, reporter at the Wall Street Journal. The smart speaker company filed for a $100 million IPO on the NASDAQ.
Business, tech and finance headlines exclusively for Hulu subscribers from Cheddar. Today's highlights include Amazon, bitcoin prices and net neutrality.
The U.S. tariffs on Chinese products that kicked in on Friday are specifically targeted at high-tech goods, an attempt to crack down on alleged intellectual property theft. But they could end up raising the cost of products like e-cigarettes, e-bikes, and smart home devices that are overwhelmingly used by millennials, says Axios reporter Erica Pandey.
Qualcomm shares are rising after reports that Apple is dropping chipmaker Intel. By 2020, Apple will stop using Intel's 5G modems in its new iPhones. This comes as Qualcomm is looking to dominate the 5G market.
The smart home speaker company filed for its public offering on Friday. Sonos is looking to list on the NASDAQ under the ticker symbol "SONO." Cheddar's Kristen Scholer and Nora Ali give us the latest.
The retail giant's fourth annual Prime Day begins July 16 and will last 36 hours, making it the longest one to date. But the company may have an ulterior motive for the low prices, says Matt Swider, senior mobile and buying guides editor at Tech Radar. "They're trying to install their products...into your home so they have you for life. It's a really ingenious, supervillian-type idea by Jeff Bezos," he tells Cheddar.
