Women have fought for a place at the proverbial table, and now theyre showing up strong.
Even so, fewer investors are female, and the gender pay gap persists.
Thats where Ellevest comes in.
How Does Investing With Ellevest Work?
Ellevest uses a robo-advisor to develop an investing portfolio that matches your targeted goals and timeline.
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Do you want to buy a house in five years?
Create an emergency fund?
Or build wealth in general?
Starting at $5 a month, Ellevest offers two membership tiers with different costs and perks for each.
Jump to the next section if youre curious which one will work best for you.
Once youve signed up for your membership, youre ready to invest.
Socially conscious and fiscally responsible, we love it!
Once youve picked your portfolio, then youre doneyoure officially an investor.
If theres anything we love, its a no-stress way to grow wealth and stay well-informed.
Well done, Ellevest.
Ellevest Membership Choices
so you can invest with Ellevest, you have to pick a membership.
Basically, you’re free to put in a dollar or a million and your fee doesnt change.
If youre looking to invest several thousand or more, however, then Ellevests affordability checks out.
We love Ellevest memberships options because of their straightforward and simple membership-based model.
You know exactly what youll be paying and what youll be getting.
Just pick and start investing.
Ellevest Account Offerings
Ellevest offers individual taxable accounts, and traditional, Roth, and SEP IRAs.
At first, we were a little disappointed in the simplicity of portfolio offerings.
Ellevest doesnt offer specialized accounts like 529 educational accounts or joint or custodial funds.
While this is a bummer, its this simplicity that makes investing with Ellevest easy.
Again, Ellevest approaches private wealth management with personalization in mind.
They work as a fiduciary with straightforward fees and well-published services that start with your financial goals.
Packages range from $20 for group workshops to several thousand for afull financial planning package.
Remember, you get discounts on these packages depending on your Ellevest membership.
You get anywhere from 30% off with Ellevest Plusto 50% off with Ellevest Executive.
Most robo-advisor services do automatic tax loss harvesting.
For some, this will be beneficial and for some this will be a loss.
It just depends on your personal situation, so Ellevest does not apply it to your portfolio.
So Is Ellevest Worth It?
In all honesty, we love Ellevest.
With goal-focused investing, Ellevest makes investing manageable and achievable.
It all depends on how much youre planning on investing.
Frequently Asked Questions (FAQs) About Ellevest
Still have questions?
Weve gathered up all of the most common questions to help you make your decision.
Your money is safe with Ellevest.
There is always risk to your money when it comes to investing.
Sallie L Krawcheck is the CEO and co-founder of Ellevest.
She formerly led Merrill Lynch Wealth Management and Smith Barney and was the CFO of Citigroup.
Her co-founder is company president Charlie Kroll.
Kross was the architect of the start-up Andera, an online banking software company.
Ellevest uses Goldman Sachs Custody Solutions, an SEC-registered broker-dealer and custodian.
Ellevests top competitors include Betterment, Wealthfront, and SoFi Automated Investing.
Contributor Whitney Hansen writes for The Penny Hoarder on personal finance topics including banking and investing.
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