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 live streaming platform most commonly associated with video gaming is branching out into other genres, such as art, based on user feedback. "This interactivity that we have on Twitch actually works with other categories as well," says co-founder Kevin Lin.
The social media platform has been trying to establish itself as a prominent player in social video, but it isn't intimidated by Instagram's new video product IGTV. That's because Twitter is the platform users turn to for live world news, says that company's vice president and global head of content partnerships Kay Madati.
Tesla is making big cuts to its solar business. According to a Reuters report, the company will close 12 solar installation facilities across several states. Tesla bought SolarCity more than two years ago for $2.6 billion.
Chipotle is giving its menu a makeover. The company is experimenting with five new menu items at its test kitchen in New York, including quesadillas, nachos, and chocolate milkshakes. Chipotle plans to roll out these items nationwide in the coming months.
Paul Boyer, a.k.a. sOAZ, the former starting top laner for Team FNATIC, was sidelined with a hand injury during the Spring Split season of the esport League of Legends. But now he's back in action and ready for the Summer Split.
Cryptocurrency is drawing even more interest from retail investors on the Robinhood stock trading app than Snap did in its IPO. The digital coins' popularity is helping users move onto more institutional product offerings, says Robinhood's co-CEO Vlad Tenev.
Tesla's lawsuit against ex-employee Martin Tripp comes at a time when the company is under pressure to meet its production targets for the Model 3. Missing internal goals again "would be awful," says Brian Deagon, senior reporter at Investor's Business Daily.
In this week's episode of The Crypto Craze, Cheddar's Nora Ali and Brad Smith discuss the biggest stories from the crypto world. Payments company Square secured a BitLicense from New York, which will allow New York residents to trade bitcoin through the Cash App.
Vlad Tenev, CEO of stock trading app Robinhood, sits down with Cheddar reporter Tanaya Macheel. He talks about the future plans for the company which currently has around 4 million active users.
Michael Corbat says it makes sense for countries to establish cryptocurrencies for their individual nations.
Michael Corbat, CEO of Citigroup, says that understanding finance and the language that comes with it is key to helping people not be intimidated by money issues.
IBM and Fox Sports have teamed up to bring fans an easy way to create their own highlight reels, drawing footage from archives and current matches. "It is a huge opportunity to tap into that fan passion," says Robert Schwartz, Global Leader of Strategy and Design at IBM iX, the company's digital ad agency.
