Join us Dec. 1-3 in Nashville for the Digiday Programmatic Marketing Summit
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
OpenAI’s new business agents give brands a free way into the conversation it’s also selling as an ad
OpenAI is giving brands a free route into ChatGPT conversations through business agents, but keeping control of the data and recommendations.
The case for and against AI token capping
Apple is placing strict limits on its staffers’ AI token consumption. Should the marketing sector take a similar path?
Reddit dangles seasonal ad credits but advertisers still want better proof it works all year round
Q4 credits may bring advertisers to Reddit, but concerns about measurement and its ad capabilities make it harder to secure year-round spend.