Morgan Stanley Woos Millennials Via Robo-Adviser With ETFs - Bloomberg

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Morgan Stanley is trying to get down with the kids. The banking and wealth management powerhouse is starting a new digital investment platform for clients with as little as $5,000 to invest, according to a statement from the company on Monday. Built around exchange-traded funds -- low-cost products that give investors access to broad chunks of the market -- Morgan Stanley Access Investing will charge $3.50 a year for every $1,000 of assets under management

The so what: More pressure in the robo-advising space from larger, institutional investors. Will start to test if the brand equity that existing robo-advisors have built over the last few years can stand up to large institutional investment.

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