Morgan Stanley hires Charles Schwab robo executive

Morgan Stanley hires Charles Schwab robo executive
Naureen Hassan, who previously oversaw Charles Schwab & Co.'s retail robo-adviser platform, has been hired as chief digital officer for wealth management at Morgan Stanley.
JAN 15, 2016
Naureen Hassan, who previously oversaw Charles Schwab & Co.'s retail robo-adviser platform, has been hired as chief digital officer for wealth management at Morgan Stanley, the firm announced on Wednesday. In her new role, she will lead the strategy and marketing of technology for the firm's 3.5 million clients and approximately 16,000 financial advisers, up from around 7,000 advisers served by Schwab. “I believe the winning approach will combine the wisdom and insight of a human financial adviser with sophisticated digital technology that can help drive performance and enable clients to access services when and how they want,” Ms. Hassan said in a statement. She noted that Morgan Stanley has $2 trillion in client assets that its advisers have built through serving high net worth families. Though no more details on Morgan Stanley's impending digital offering have been shared, a source familiar with the firm said Morgan Stanley will be focusing its attention on high net worth clients. It also would allow the firm to connect with the next generation of clients, who want more digital offerings, he said. In October, Gregory Fleming, former wealth management president at Morgan Stanley, hinted a robo-adviser for advisers was in the works. Earlier this month, the firm said in a memo Jim Rosenthal, chief operating officer at Morning Stanley, was taking the reins of the firm's impending digital offering. Neesha Hathi, who previously led technology and oversaw Schwab Performance Technologies at Schwab Advisor Services, has already replaced Ms. Hassan. Tobin McDaniel, president of Schwab Wealth Investment Advisory, will continue to oversee Intelligent Portfolios, a Schwab spokesman said.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.