Ellevest
{{Short description|Fintech company for women}}
{{infobox company
| name = Ellevest
| foundation = 2014
| founder = {{plainlist |
- Sallie Krawcheck
- Charlie Kroll}}
| location_city = New York City, New York, U.S.
| aum = US$1 billion (2022)
| homepage = {{URL|www.ellevest.com}}
}}
Ellevest is a robo-advisor investment platform and financial literacy program primarily for women. It was cofounded by Sallie Krawcheck and Charlie Kroll in 2014,{{cite web|url=https://citywireusa.com/registered-investment-advisor/news/ellevest-co-founder-and-cfo-kroll-exits/a1400204| title=Ellevest co-founder and CFO Kroll exits| first=Ian| last=Wenik| website=Citywire| access-date=6 May 2021| date=11 September 2020}} with venture capital provided in part by Melinda Gates's Pivotal Ventures, Valerie Jarrett, and Eric Schmidt. As of 2021, it manages more than one billion dollars with over 120,000 users, about 90% of whom identify as women.{{cite web|url=https://www.cnbc.com/2020/06/24/ellevest-launches-membership-program-to-help-women-with-their-finances.html| title=In response to coronavirus, Ellevest launches new savings account, membership program to help users improve their finances| first=Alicia| last=Adamczyk| website=CNBC| access-date=6 May 2021| date=24 June 2020}} Ellevest provides digital investing tools and financial guidance, as well as private wealth management for individuals, families, and organizations. Its gender-aware investment algorithm takes into account that women often have longer lifespans than men, and thus may need to save or invest more money to account for a longer retirement period. The algorithm also factors in that women typically hit their salary peaks earlier in life than men and typically have lower salaries due to the gender pay gap.{{cite web|url=https://www.forbes.com/sites/maggiemcgrath/2021/03/23/sallie-krawcheck-grows-ellevest-to-1-billion-in-assets-under-management/?sh=79514cdb2395| title=Sallie Krawcheck Leads Ellevest To A Landmark $1 Billion In Assets Under Management| website=Forbes| date=23 March 2021| access-date=6 May 2021|first=Maggie|last=McGrath}} Ellevest also allows its users to financially plan for income breaks or decreases, which can be necessary due to having children or providing elder care.
Though it initially began as a long-term wealth management platform, it now includes workshops and financial planning.{{cite web|url=https://www.apple.com/newsroom/2021/04/three-apps-enabling-financial-wellness-for-all/| title=Three apps enabling financial wellness for all| date=27 April 2021| access-date=6 May 2021| website=Apple Newsroom}}{{cite web|url=https://techcrunch.com/2020/06/24/digital-investing-platform-for-women-ellevest-expands-into-banking/| title=Digital investing platform for women, Ellevest, expands into banking| access-date=6 May 2021| date=24 June 2020| first=Sarah| last=Perez| website=TechCrunch}} It has a subscription business model for its online investing business, with two different membership tiers.{{cite web|url=https://fortune.com/2020/06/24/sallie-krawcheck-ellevest-debit-card-membership/| title=Sallie Krawcheck's women-focused investment startup expands to debit cards and a membership model| website=Fortune| first=Maria| last=Aspan| date=24 June 2020| access-date=6 May 2021}}
In February 2025, Ellevest announced that Betterment (company) would acquire its automated investing accounts. As a result of the deal and shift in direction, Ellevest now exclusively serves high-net-worth clients.{{cite web|url=https://www.bankrate.com/investing/betterment-acquires-robo-advisor-business-from-ellevest| title=Betterment acquires robo-advisor business from Ellevest| first=Rachel| last=Christian| website=Bankrate| access-date=27 February 2025| date=26 February 2025}}