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.”
Glamour magazine's Morgen Peck, who recently wrote a story about the leading women in cryptocurrency, says their increasingly visible role may change the so-called bro culture of the industry.
Musk's behavior during his earnings conference call Wednesday surprised reporters and rattled some investors: Tesla's stock opened down more than 6 percent Thursday.
But Galileo Russell, the founder of the YouTube channel HyperChange TV, said retail investors found it “the most informative conference call they’ve ever heard from Tesla.”
The guided meditation app wants to make the ancient practice of mindfulness easier for people. You don't need "to sit down on the floor, cross-legged, light some incense," says the Headspace co-founder Andy Puddicombe, a trained Buddhist monk.
Soothe's new CEO Simon Heyrick says the company is working on new tools to increase its clients' safety after an assault accusation by a Kentucky woman. The massage on-demand app recently raised $31 million in a new round of funding.
Rachio is a smart sprinkler that can schedule waterings and also help homeowners control how much water is used, says Chris Klein, the company's co-founder and CEO. That functionality has helped conserve about 28 billion gallons of water to date.
For the first time in eight years, the social site is rolling out a redesign that reduces white space and increases flexibility in how users view content. Many of the changes were careful and based on user feedback, says Chris Slowe, the site's chief technology officer, because "Reddit exists as a platform to criticize Reddit."
The live streaming platform, primarily used for video game streaming, has 15 million daily users who spend an average of two hours a day watching content there. That's because Twitch has turned the traditionally "solitary exercise" of gaming into a more social experience, says co-founder Kevin Lin.
The humanoid robot was designed with an eye toward businesses before homes, says Steve Carlin, Softbank Robotics chief strategy officer. That way American users can interact and "get used to" the four-foot-tall robots before letting them into their personal spaces.
One of the ways to turn the company around is a change in management, says Michael Pachter, an analyst from Wedbush Securities. Shares of the social media company took a hit Wednesday, a day after it delivered disappointing quarterly results.
Though the music streaming platform posted results in-line with expectations on revenue and paid subscribers, the company is still losing money, and revenue growth for the current quarter looks uninspiring. Spotify's shares fell about eight percent after the bell Wednesday.
