Robo-advisors are changing the way people invest, and Morgan Stanley is getting in on the trend through the launch of its online investing platform Access Investing. Naureen Hassan, Chief Digital Officer at Morgan Stanley Wealth Management, joined Cheddar to discuss the investment trends among younger people that influenced the company's decision to offer Access Investing.
Morgan Stanley is trying to appeal to the younger generation of investors. To do so, the company is going head-to-head with robo-advisors such as Betterment and WealthFront. Hassan says that Morgan Stanley is differentiating its product through thematic investment portfolios. She explains that 42% of Access Investing accounts have thematic portfolios. The most popular theme is Robotics and Artificial Intelligence, which is used in about 19% of accounts.
Hassan emphasizes that the integration of technology into investing resonates with younger investors. She points out that 71% of accounts opened, were by people under the age of 45. As users financial needs become more complex, Morgan Stanley hopes to transition the clients into their traditional wealth advisory business.
Widespread flash flooding hit New York City on Friday and city residents were dealing with financial losses and molding in the aftermath. Cheddar News took a deep dive into what to do to when dealing with storm cleanup.
A federal agency has sued the restaurant chain Chipotle, accusing it of religious harassment and retaliation after a manager at a Kansas location forcibly removed an employee's hijab, a headscarf worn by some Muslim women.
In a statement Sunday, the Atlanta-based Fearless Fund said it would comply with the order but remained confident of prevailing in the lawsuit, which was brought by conservative activist Edward Blum’s American Alliance for Equal Rights.
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