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 payment technology start-up unveiled a new version of its app this week that lets retail investors in 46 states play in the crypto market.
Jake Fisher, director of auto testing at Consumer Reports, talked with Elon Musk, who said he's planning to fix the Model 3's braking distance issue with a remote update, possibly as soon as this weekend.
Consumer Report does not recommend the Tesla Model 3 after it put the vehicle to the test. Jake Fisher, director of automotive testing at the magazine, shares what went into the test and dishes on his talk with Elon Musk.
Amuse, a music streaming distribution platform supported by will.i.am, raised $15.5 million to help artists find ways to get their work on services such as Spotify and Apple Music.
Mark Zuckerberg Testifies Before EU Parliament
PCMag did a deep dive into the rise of tech addiction. Associate Editor Rob Marvin explains what makes someone a tech addict, and how tech companies are tackling the issue. Marvin also previews Mark Zuckerberg's testimony before EU parliament.
The electric automaker is set to be the big winner as China lowers its tariffs on imported cars and phases out its 50/50 law requiring foreign companies to set up a joint venture with a local firm in order to operate in the country.
The CEO of the med-tech start-up says he'll use some of the $20 million in new capital raised to expand the company's house-call service and give doctors better technology to treat patients at home.
European lawmakers aggressively questioned Facebook's CEO on Tuesday, indicating they may consider further restricting the social media company's unchecked growth and regulating its business practices.
Tesla has hired Snap’s vice president of monetization engineering, Stuart Bowers, to be the electric carmaker’s VP of engineering. Nearly a dozen members of Snap’s senior leadership have departed since the company went public in early 2017.
