IWD Heroes: Investment Platform Helps Women Get Ahead Financially
Ellevest is a female-founded investment management hub designed in collaboration with its customers to help everyday women achieve their financial goals
Women are paid less on average, while also typically living longer than men, meaning that saving for the future and building wealth is especially important for women. This philosophy is what helped kickstart the creation of Ellevest, an investment platform “by women, for women.”
The platform helps women prioritize their financial goals through a range of services. This includes Ellevest Digital, its no-minimum-required online investment tool that uses algorithms tailored to each client’s salary, gender and lifespan, as well as one-on-one career coaching and financial planning and even entire portfolio management for those with larger assets.
Considering that 86% of financial planners are men, with an average age of 50 years or more, Ellevest co-founder Sallie Krawcheck sought to offer women an alternative, focused on their goals and lifestyle. The platform itself was created from the ground-up not just with women in mind, but also side-by-side with its clients, including more than 200 hours of interviews with women, 40 hours of ethnographic research and 500 economic scenarios tested for every plan.
Sallie Krawcheck was among the female pioneers we spotlit in honor of International Women's Day 2020—for the full list, see here!