Women investors are getting more choices in digital investing platforms.
Two new platforms launched Wednesday and are now open by invitation only. Sallie Krawcheck of Ellevate Network launched her offering, Ellevest, in New York City, and Amanda Steinberg and Michelle Smith of The DailyWorth opened Worth Financial Management in Philadelphia.
They join Tina Powell’s SheCapital in Hackensack, N.J., and others that have cropped up recently that cater to women investors.
The platforms, which charge 50 basis points or a monthly fee, are described as goals-oriented platforms that are designed to cater to women’s goals and their earning timelines, which are often different than men’s.
“The one thing that women investors ask for most is to be able to go from being overwhelmed to being in control,” says Steinberg. “That is what we are trying to do. Women can invest as little as $1,000 and as their money grows the site teaches them about investing.”
The digital programs also are open to investors with low total assets who often cannot find a personal financial advisor to work with.