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Morgan Stanley launches online robo-advisor

Morgan Stanley is aiming to attract young investors by incorporating popular social causes into its new service.

By Tom Ball

The American investment bank, Morgan Stanley, is introducing a new robo-advisor with the goal of drawing the attention of young people.

Morgan Stanley is looking to achieve this by incorporating portfolios aiming at causes including gender diversity, new technology and sustainability.

In addition to this, Morgan Stanley Access Investing will come with a 0.35 per cent advisory fee because it is geared towards more basic financial ambitions including saving.

Getting started with this service requires $5,000, a starting point that the bank believes will be deemed attractive to young people planning to engage in investing.

Lisa Shalett, head, investment and portfolio solutions, Morgan Stanley Wealth Management, said: “Our analysis has shown that the next generation of high net worth individuals is looking for more than traditional portfolio allocation. By offering a diverse set of portfolios, we are enabling our clients to invest in what they believe.”

“Morgan Stanley Access Investing portfolios are backed by the same proprietary manager selection analytics used throughout the firm, which we believe may improve the odds of adding performance value for the end investor,” Shalett said.

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The bank has produced the statistic that 86 per cent of millennials are interested in making investments that are socially beneficial, explaining Morgan Stanley’s motives in highlighting options focussing on popular causes.

Naureen Hassan, chief digital officer, Morgan Stanley Wealth Management, said: “Morgan Stanley Access Investing is an opportunity for financial advisors to grow their book of business by making connections with prospects earlier and eventually establishing full service relationships when clients are ready.”

UK consumers are showing increasing interest in innovative, personalised customer experiences, but they are becoming less willing to share their personal data. This attitude may have been enhanced by the major data breaches of 2017 that raised widespread awareness to the value of personal data, and the hackers that are out there to capitalise on it.

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