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December 22, 2017

Ellevest unveils wealth management services

Ellevest, a robo advisory platform focussed on women, has rolled out an expanded suite of products and services, for wealthy investors.

The new products are Ellevest Digital, Ellevest Premium, and Private Wealth Management Services. Ellevest Digital does not require any minimum or maximum amount to open an account. It will charge investors an annual fee of 0.25% of assets invested.

The product offers personalised investment portfolios to meet specific goals of each client and tax minimisation strategies.

Ellevest Premium incorporates all the features of Ellevest Digital, in addition to 1:1 personalised guidance by certified financial planners and 1:1 executive career coaching through an agreement with Forshay. The product will charge a fee of 0.50% per year and require a minimum of $50,000 to open an account but no maximum.

Ellevest Private Wealth Management will meet the needs of women with $1,000,000 or more of investable assets. It will also offer investors access to a dedicated private wealth manager and investing options focused on social impact.

Ellevest co-founder and CEO Sallie Krawcheck said: “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.”

The launch of new products follow the company’s recent fund raising of $34.6m in September.

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