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.”
Congressman John Garamendi (D-CA) told Cheddar he believes the Trump campaign was aware of the use of private data harvested off Facebook and is outraged the social media company sought to profit off the move. The company remains under fire amid a data scandal that unveiled private information of more than 50 million users to an analytics firm working for the Trump campaign.
Artists who are just putting out their first products turn to SoundCloud, whereas other platforms pick them up after they've built a bit of momentum. That gives the company its edge, says Kerry Trainor, CEO of the music streaming platform.
The way Facebook's CEO has handled the privacy scandal so far raises questions about his leadership ability. His age might be to blame, says Rasmus Houggard, author of "The Mind of the Leader."
Sarah Friar, Chief Financial Officer at the payment processing company, says omni-channel retail and the company's Cash App are major growth boosters.
The fallout from Facebook's latest data scandal continues to intensify. The Weinstein Co. officially files for bankruptcy protection after many attempts to sell the company failed. Josh Sternberg, tech editor for AdWeek, joins us to discusses how Uber moves forward after one of its driverless cars killed a pedestrian in Tempe, Arizona. And Bri Bauer from Dairy Queen brings ice cream cones to the trading floor to celebrate the company's National Cone Day. On the first day of spring, Dairy Queen gives customers free vanilla ice cream cones.
Slowing down test programs in "non-controlled environments" in these early stages of development will help regulation keep up, says Jason Levine, Executive Director of The Center for Auto Safety.
Damon Beres, executive editor at Mashable, talks about Cambridge Analytica's misuse of Facebook user information in the 2016 election. Beres discusses how the company may be on the brink of facing government regulation in the wake of this revelation as well as Russia's use of the platform in the 2016 election. We talk what this means for users and whether any users will limit or alter their use of the site. Beres explains both sides of the argument, but adds that he would not be surprised if users say "enough is enough."
The fallout from Facebook's latest data scandal continues to intensify. The Weinstein Co. officially files for bankruptcy protection after many attempts to sell the company failed.
"Content is king, and pipes are commodities." That, in a nutshell, is why the wireless giant wants to join forces with the content creator, explains Ben Gomes-Casseres, professor of International Business at Brandeis International Business School. The DoJ is seeking to block the merger, citing anti-trust issues, and the trial will kick off on Wednesday.
Snap Inc. has banned advertising of so-called initial coin offerings (ICOs) in the Snapchat app, the company told Cheddar on Monday. The move is the first time Snap has cracked down on cryptocurrency advertising.
