Ellevest, an investing and planning platform designed for women investors, is launching three new investing platforms designed to empower women at three different points in their financial lives, the firm announced Thursday.
The new products follow a recent capital raise of $34.6 million announced in September, and reflect client demand, priorities of women investors and the firm’s mission to help women close the gender investing gap, said Ellevest.
One of the new products, Ellevest Digital, will be offered at a fee of 25 basis points of AUM annually for those clients who want a digital solution. There is no account minimum. Ellevest Digital will include tax minimization strategies and text and email support.
Ellevest Premium will be offered for 50 basis points of AUM annually. The accounts will have a $50,000 minimum and will include one-on-one personalized guidance by a CFP professional. The service also provides career coaching offered through Forshay, a provider of executive recruiting and project-based work.
A third level of service will be Ellevest Private Wealth Management, designed for women with $1 million or more of investable assets. Ellevest Private Wealth Management includes a dedicated private wealth manager and investing options focused on driving social impact and advancing women.
“This year’s seemingly endless flow of headlines on sexual harassment has underscored the obstacles women continue to face to achieving financial success. Our clients’ passion around these issues inspires our work and drives our sense of urgency to provide women with access at all stages of their lives to the tools to help them close their gender money gaps,” said Sallie Krawcheck, Ellevest co-founder and CEO.
Krawcheck will be a speaker at the fourth annual Invest In Women conference to be held in Houston April 30 through May 2 sponsored by Financial Advisor magazine.
“It is core to the Ellevest mission to be an advocate for women’s contributions to the economy, to call foul on what impedes their success, and to help women succeed regardless,” Krawcheck added. “Money is power, confidence, control—and can be the freedom to say ‘take this job and shove it,’ if needed.”