Ellevest Review: A Financial Company For Women, By Women

Ellevest is a financial service is designed by women for women and they offer a variety of tools for their users. It includes a robo-advisor that is designed to create and manage a more personalized investment portfolio for you.

So how does it work? Ellevest works just like any other robo-advisors, just sign up and choose which features you want and pay a monthly fee and they’ll take care of the rest for you.

You can choose from three different tiers of services starting at $1 per month: Ellevest Essential, Ellevest Plus and Ellevest Executive. Each membership tier provides access to professional help, free resources and an investing porfolio managed by Ellevest’s investing algorithm.

Continue reading below to see our review on the investing platform. You should check out Ellevest’s competitors like Ally Invest, Wealthfront and Betterment.

Ellevest Quick Summary

Ellevest Features

Ellevest Investing

They’ll create and manage a personalized investment portfolio for their members. It’s the only investing tool built by women, for women. 

Why for women? From the start the investing industry was built by men, for men and their tools were failing women. Their investment algorithm factors in important realities for women, such as pay gaps, career breaks, and longer average lifespans.

Ellevest’s Investment strategy is to create an investment portfolio using a thoughtful mix of stock, bond, and alternative funds. This kind of diversification is intended to help reduce your portfolio’s overall risk. If you support Impact Portfolio, then you also support:

• Women in Leadership: Invest in companies that have women in leadership roles and policies that advance women
• Community Development: Invest in funds that support loans for affordable housing and community services
• Sustainable Practices: Invest in companies with higher standards for ethical and sustainability practices

How to get started:

1. Share a few details about your money, life, and career, so Ellevest can create a plan just right for you.
2. Then you’ll get your investment plan where they’ll recommend a low-cost, diversified investment portfolio and invest  your money to help you reach you money goals.
3. There’s no minimum deposit to find your plan, just simply link your bank account and start investing.
4. Ellevest will do the rest for you, so if you’re investments starts to get far away from their target points, they’ll take it back in line for you and do their best to minimize the taxes.

Ellevest Learning

Get on demand help with Ellevest Learning with quick tips, challenges, and workshops to help you do more for your money and career.

It’s all about you from career moves to what to do with your money, discover everything you want to know. Learn from experienced career coaches and financial planners who want you to succeed.

• Digital Workshops: Learn from a team of financial planners and career coaches.
• In-App Learning: Useful tips, videos, and articles you can access anywhere.
• Courses & Guides: Sign up to go at your own pace from your inbox.
• Personalized progress reports: Keeping you and your money goals on track.

Ellevest Coaching

Ellevest Coaching can help you get where you want to go. You can take your money and career to the next level with your Ellevest member discount.

You can start off by picking a session, get access to coaching sessions designed to help you prioritize your goals and build strengths.

Then meet your coach and start to work with a team of career coaches and financial planners who want you to succeed.

Finally, get your plan and you walk away from each session with a realistic and actionable plan for your money or career.

Ellevest Retirement

You can start thinking about your financial future and begin investing for a retirement through Ellvest Plus or Ellevest Executive money membership. They made retirement easy for you!

Make sure to know you number and they’ll recommend how much you should save by the time your retire. Ellevest will factor in important realities of women’s lives, such as pay gaps, career breaks, and longer lifespans.

They’ll help you stay on track by investing and managing your money for you. Then they’ll make adjustments as you get closer to retirement.

Ellevest Banking

Ellevest Banking lets you access your money wherever you go, you can make unlimited withdrawals at any ATM and they’ll reimburse the fees. Not only that, all account are FDIC insured up to $250,000.

Every time you spend, automatically round up the extra change from your Ellevest Spend account into your Ellevest Save account to grow your savings.

Not only that, your Ellevest Spend account comes with an Ellevest Mastercard World debit card, you’ll earn benefits including:

• Contactless tap to spend safely and easily
• ID theft resolution services
• Extended warranty
• Satisfaction guarantee
• A Unique debit card with each level of membership

Ellevest Money Memberships & Pricing

* Ellevest does not charge a separate advisory fee on your assets. All Ellevest Money Memberships are free for your first month.

Bottom Line

Ellevest is best for new investors or for those who are looking for a low starting balance. There’s no minimum deposit to start investing, so you can do more for your money today! You can also check out our full list of the Best Robo-Advisors here!

If you’re interested in more investment opportunities, check out our best brokerage bonuses and promotions! Check out other brokerage services instead, like Merrill Edge or E*Trade. If you want to learn how to ear more money, check out the best ways to make money online!

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