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.”
If the stock had surged too high, "it would be hard to grow into that valuation over time," says Pär-Jörgen Pärson, partner at European venture capital firm Northzone, a Spotify investor since 2008.
West Virginia is the first state to test out voting via blockchain, collaborating with venture capitalist Bradley Tusk. "[People] want to vote the same way that they order something from Amazon," says Mac Warner, WV's Secretary of State. The experiment has rolled out for deployed military voters in some counties, with plans to deploy it across the state for the midterm elections in November.
CEO Mark Zuckerberg said Facebook's handling of user data was a "huge mistake" and that the company failed to take "a broad enough view of what our responsibility was" to its more than 2 billion users.
Stringer wants Facebook to bring in more independent directors and experts on data protection to provide more oversight at the company. As the comptroller, Stringer manages the city's public pension funds, which have close to $1 billion invested in Facebook.
Both companies decided to bypass banks and let anyone participate in the listing process, says Stacey Cunningham, COO at the New York Stock Exchange. The music streaming company started trading on the market Tuesday, with shares opening at $165.90 a pop.
There are "some unique factors" that went into Spotify's decision to choose a direct listing, and not all companies will have the same needs, says Stacey Cunningham, COO at the New York Stock Exchange. Spotify started trading on the market Tuesday, with shares opening at more than $165 a pop.
Choosing a direct listing over an IPO has left a lot of room for volatility when the stock starts trading tomorrow, says Maureen Farrell, reporter at the Wall Street Journal. The music streaming company goes public Tuesday, and investors have little guidance on the debut price or even what kind of volume we'll see on day one.
Female gamers, like Janet Rose, are often told that they are mere distractions in the male-dominated industry. They are also frequently exposed to sexual harassment online. Rose, who streams on Twitch as "xChocobar," shares her experience.
Cheddar caught up with auto execs at the New York International Auto Show and asked them how many years it will be before people won't need to learn how to drive. Here are their answers.
Sony's PlayStation produces games that are exclusive to the platform, much like the media companies, and that's what keeps gamers loyal, says Asad Qizilbash, the company's Vice President of Marketing. "God of War" is an example of a PS exclusive and the next version comes out on April 20th.
