Join us Sept. 14-16 in Miami to connect with top publishing leaders
Investment behemoth Morgan Stanley just entered the robo race.
This week, the firm debuted a digital investment product, Morgan Stanley Access Investing. The easy-to-use platform offers portfolios made up of mutual funds and exchange-traded funds, combining elements of active and passive management. Investors need to put down a minimum of $5,000, and they’ll pay a 0.35 percent assets under management fee — excluding fees and expenses relating to owning shares of a fund. To the company, its own way to reach younger investors.
“Access Investing allows Morgan Stanley’s financial advisers to expand their reach and nurture clients by building a pipeline to the next generation of high net worth clients,” read the announcement.
Morgan Stanley is the latest among incumbent firms getting into digital advice, following Wells Fargo and Bank of America Merrill Lynch that launched robo platforms earlier this year. What’s at play here, say analysts, is a strategy to tap into the massive wealth transfer that’s about to take shape.
More in Marketing
Ad Tech Briefing: Regulatory storm clouds gather and scatter over Big Tech, and indies count the cost
The FTC’s Amazon charges presage Google’s second antitrust let-off in a year, while The Trade Desk sheds hundreds.
Anthropologie is launching Nike as sneaker shoppers increase nearly 30%
The retailer is planning a full digital campaign to accompany the launch. The first of nine styles launched on Monday, with the rest rolling out by September 21.
Future of Marketing: Brands want creators who can win over humans and machines at once
Why creator briefs are starting to look like a map of AI search queries.