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.
Union leaders and Hollywood studios reached a tentative agreement Sunday to end a historic screenwriters strike after nearly five months, though no deal is yet in the works for striking actors.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we're highlighting, Microsoft and Activision Blizzard, the UAW strike, Fox Corp. and News Corp. shake-up, interest rate decision, and Cisco scooping up Splunk.
