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Review Of Ellevest

When you first hear that the investment platform is for women, you might think it is feminist, but it is not. There is a lot to offer women who are looking for financial advice and an easy way to start investing.

It will all start to make sense once you understand the differences between how men and women invest. Understanding the different approaches to investing can help you better manage your finances.

It is not exclusive to women and was created by women. Anyone looking to reach their financial goals can get financial planning and investing services from it. At Ellevest, they take gender into account. The research that shows how women’s salaries and life expectancies differ from men’s is what makes the investment strategies tailored to the unique financial goals of women.

The personalized investment portfolios on offer will be different for men and women. Each investor’s personal financial goals and risk tolerance will be tailored to their portfolios.

We want to help you make an informed decision when it comes to your money, because choosing the right place to invest can be very personal. We want to make sure that you are comfortable with whatever decision you make and feel confident in your investment choices.

What is Ellevest?

Founded by a woman, Ellevest is a The platform aims its service towards women, but it isn’t exclusively for women. The platform is designed to cater to all, regardless of gender.

Men can use it as well, but unlike other robo advisor investing platforms, Men and women are treated differently. Men and women have different financial challenges and goals, and that’s why Ellevest is dedicated to providing financial advice tailored to the needs of women. It makes sense that women live longer than men and earn less.

Women have different needs and goals than men. Investing can lead to better long-term results if women are more risk averse.

You can choose between short and long term goals. It is important to make sure that the goals you choose are doable. You can use the Monte Carlo simulation to create the best investment portfolio. Your portfolio will be designed to maximize your return while minimizing risk, so you can have more peace of mind when investing.

They claim to have 70% of you reaching those goals, while other platforms only offer 50%. No investment platform can guarantee success and any returns are not guaranteed.

The platform is easy to use, and you don’t need to have much knowledge of investing. With most of the financial industry preferring complexity, Robo Advisors, which are simple to use, allow more women to invest without getting overwhelmed or frustrated.

The money is held by Folio Investments. You can get personalized guidance and advice from the financial advisors at Ellevest. The broker-dealer is registered with the SEC. This applies to all Elevest portfolios. At any stage in life, these portfolios are tailored to meet the needs of investors. The assets of the Private Wealth Management portfolio are held by Charles Schwab. Charles Schwab is committed to providing clients with the highest level of service, security and technology to ensure that their investments are managed responsible.

Ellevest Impact Portfolios

With optional Impact Investing, you can change the world while reaching your financial goals. Impact Investing is an easy and effective way to make a positive impact while you work towards your financial goals.

You can invest in companies led by women, sustainable companies, and community development companies. It’s a great way to make a positive impact on the world while still earning a good return on your investment. You will still get a diverse portfolio with 21 asset classes, but many of them will contain impact funds. A selection of socially responsible funds can give you peace of mind that your investments are making a positive impact on the world.


Users can choose from 3 primary plans. They have different costs and features.

Pick one that fits your budget, goals, and needs the best. You should compare different options to make sure you get the best value for your money. To help you understand which one is the best for you, we looked at all of them. We think this is the best option for you.

There is no minimum deposit to get started with these plans.

Ellevest Essential

This plan is great for beginners. As you gain more experience, it’s easy to modify it. You don’t need a minimum amount to invest as you can start with $1. The lowest fees can be found with this plan. You can save more when you sign up for auto-pay.


  • Personalized investment portfolios
  • Optional investment in Ellevest Impact Portfolios
  • Automated deposits
  • No penalties for withdrawals
  • Automated rebalancing
  • Emergency fund
  • Tax Minimization Methodology
  • Unlimited access to online workshops, email courses, and video resources from their team of financial planners and career coaches
  • You can learn to help with career, money, and investing decisions. You can gain the confidence to take charge of your career, money, and investing with on-demand learning.
  • One to one access to a Certified Financial Planner (CFP) for personalized guide and strategy (20% discount)
  • One to one access to Executive Coaches for training on career events and salary negotiations (20% discount)
  • Access to an FDIC-insured Ellevest Save account with Unlimited ATM fee reimbursements, and no minimum balance or overdraft fees
  • Support from the Concierge team (financial professionals)

Ellevest Plus

The Plus plan gives you everything the Plus plan has to offer for $5 per month. You can take advantage of all the extra features for a small monthly fee with the Plus plan.


  • Support from the Concierge team (financial professionals)
  • One to one access to a Certified Financial Planner (CFP) for personalized guide and strategy (30% discount)
  • One to one access to Executive Coaches for training on career events and salary negotiations (30% discount)

Ellevest Executive

You can get everything the Plus Plan has to offer at $9 per month. You get access to a financial adviser and personalized coaching, as well as tools that help you plan for retirement and other long-term goals.


  • Multi-goal investing – You can get up to 6 different investment accounts for each of your money goals. You can make the most of your money with these tailored accounts.
  • One to one access to a Certified Financial Planner (CFP) for personalized guide and strategy (50% discount)
  • One to one access to Executive Coaches for training on career events and salary negotiations (50% discount)

Private Wealth Management

If you want to invest $1 million or more, this option is for you. There are other ways to invest less than $1 million.


  • Dedicated financial advisor
  • Client service team
  • Customized portfolio construction
  • Customized asset allocation
  • Account transition to minimize capital gains tax
  • Access to Certified Financial Planner
  • Illiquid investments
  • Optional impact investing
  • Donor-advised funds
  • Joint accounts
  • UTMAs (custodial accounts)


Having a plan with Ellevest opens up other features that you will have access to:

Ellevest Concierge Team

All clients in the Plus plan get unlimited support from the Concierge team. They can answer your questions over the phone, text, or email. No matter what your question is, their team of experts will be happy to help.

They can also help you with a number of issues such as:

  • IRAs and 401(k)s
  • Account and goals customizing
  • Financial professional guidance

Certified Financial Planners

There is an additional cost for customers to receive one on one guidance. Each plan increases the discounts on these services. Customers can get additional discounts when they sign up for multiple services.

The CFPs (Certified Financial Planners) can help you if you’re:

  • Planning to buy a house or remodel it
  • Planning on growing your family
  • Considering retirement options
  • In need of financial advice or going through a career change
  • In need of help with leveraging employee bonuses and benefits

Executive Coaching

The Career Team gives access to Executive Coaching for an additional fee. The Executive Coaching service can help clients reach their professional goals. The team of professional coaches will guide you. They can help you to succeed in any environment. Each plan increases the discounts on these services. Customers will receive more value when they upgrade their plans.

You can receive help with a number of things such as how to:

  • Ask for a raise or get a compensation package
  • Get a good start at your new job, prepare for a new role
  • Prepare for a job interview
  • Start in a new field or industry
  • Go back to work after a break


Pricing among investment platforms is very competitive. They offer great customer service to make sure that their clients have the best financial experience possible.

They have four levels of offerings with different pricing:

  • The most basic offering. The most basic offering is Essential. The fee is $1 per month. There is a 20% discount on one-on-one financial planning and coaching sessions for essential members. The discount cannot be combined with any other offers.
  • A management fee of $5 per month is charged by this upgraded membership. This membership gives you access to exclusive deals and discounts that are not available to regular members. There is a 30% discount on one-on-one financial planning and coaching sessions for essential members.
  • Executive . The fee for the executive plan is $9 per month. Customers who commit to a year-long contract will not pay this fee. Executive members get a 50% discount on one-on-one financial planning and coaching sessions. This offer is only available to Executive members and cannot be used with other discounts.
  • Private Wealth Management can be used by investors with portfolios worth $1 million or more. Private Wealth Management services typically provide clients with tailored advice, access to premier investment opportunities, and a team of dedicated professionals to help them reach their financial goals. The fees are based on the total value of your assets.

Other fees include clearing, brokerage, and service provider charges. It’s important to understand the total cost of a transaction before entering into an agreement because these fees can add up quickly.

Paper statement fees, wire transfer fees, bounced checks fees, safekeeping fees, margin extension fees, and others are some of the charges from Folio or other entities.

You can find the pricing on their website. You’re sure to find the perfect fit with Folio’s wide range of plans.

Ellevest Fee Summary
Plan Management Fee
Essential $1 /mo
Plus $5 / mo
Executive $9 / mo
Private Wealth 0.50% – 0.90% depending on assets managed:
  • 0.90% – $1,000,000 – $1,999,999
  • 0.80% – $2,000,000 – $4,999,999
  • 0.60% – $5,000,000 – $9,999,999
  • 0.50% – $10,000,000+

Getting Started

A clean and simple website is what this starts with. You can set up an account with a few clicks. It takes less than 10 minutes to sign up.

How to Get Started:

  1. The process of creating an account is completely free. You will be able to access all of the features once your account is set up.
  2. Emergency savings, retirement, buying a house or a car are some of the goals that can be included in your financial plan. Ensure that you are on track with your goals once you have finalized your financial plan. Your risk tolerance will be determined by Ellevest. You will be asked a number of questions to figure this out. To the best of your ability, answer the questions honestly.
  3. Ellevest will suggest personalized investment portfolios tailored to your goals. You can start investing with as little as $1. You can link your bank account, as well as transfer your IRA. There is an online financial platform that caters to women.
  4. You can choose one of the plans. You can reach your financial goals no matter what plan you choose.

You can change your goals, income, and transfer funds at any time, and you can get advice from their team. You can get tailored portfolios from Ellevest to help you reach your financial goals.

With no penalties, you can withdraw your money at any time. You can make the best decisions for your financial future with full control over your finances. Much like many other Robo Advisor platforms, Ellevest offers a Free Emergency Fund.

Assets in your Emergency Fund will not be subject to fees. When absolutely necessary, withdrawals from your Emergency Fund should be done with care. The Emergency Fund has an interest of 0.01%. The Emergency Fund can be accessed at any time. You can see it as an online savings account. If you have extra money, you can transfer it into it whenever you want. The interest rate is low, so there is no risk.

Ellevest App

It’s also available for iPad users. Users of the app can manage their investments on the go. You can use the mobile app to set up financial goals.

Track your progress towards the goals by reviewing your account and available funds, as well as seeing the balances. Automatic transfers can be used to make progress towards your goals. You can invest in the Impact Portfolios, complete deposits and withdrawals, and browse through the magazine on your phone. As a bonus, you can get access to a range of exclusive discounts and offers.

Retirement goals, rollover of 401(k) and IRA transfers are currently unavailable within the app. You can complete these functions on the website, but only if you have a mobile phone or tablet. The website is easy to navigate and find what you need quickly.

The app should work on iPhone 5 and later models. The app can be downloaded from the App Store. The app can be used to access a lot of features. It doesn’t work on the iPad. The feature will be compatible with the iPad in the future. You can use any internet browser to access its website if you want to use it on your iPad or any other device. The mobile app allows you to manage your accounts with ease and convenience on the go, so you can make sure your money is working for you wherever you are.


There are special promotions for Millennial Money readers. The credit might take up to 90 days to process. It’s important to keep track of your deposits to make sure you get the most out of them.

The highest priority goal is where the bonuses are applied. Employees should be motivated to reach their highest priority goal as soon as possible. You can see it as a deposit in your goal. It’s a great way to save money.

If you have your highest priority goal in mind, you will get an Amazon gift card worth the same amount as the promotion. You can’t use the gift card to invest in retirement accounts.

Ellevest Promotion: Up to $750 Cash Bonus – Expired
Deposit Amount Cash Bonus
$10,000 – $24,999 $25
$25,000 – $49,999 $75
$50,000 – $99,999 $150
$100,000 – $249,999 $300
$250,000+ $750

As new promotions are announced, we will update this page.

Is Ellevest Safe?

One of the main priorities is security. Every measure is taken to make sure that client information and accounts are safe and secure. It is in their best interest to keep your financial and personal information secure as you are sharing it with them. It’s important to do your research and make sure the company you are sharing your information with has a strong security policy in place. Qualys has an A+ rating for Ellevest. The commitment to providing secure and reliable financial services is reflected in the rating.

The data is stored in a secure data center once it is collected. The data is monitored to make sure it is secure. They use 2048-bit RSA certificates and support the strongest suites.

They won’t sell your information to a third party for marketing or advertising. Your personal data is safe with them. Their privacy policy can be found on the website.

The Securities Investor Protection Corporation protects your money up to $500,000. With additional insurance for cash accounts, you can be sure that your money is protected. This applies to all their plans. Regardless of which plan you choose, you can be sure that your investments will be handled in a responsible manner.

Other steps Ellevest takes to ensure Security:

  • ID verification
  • 2-step linking for deposit and withdrawals
  • Session timeouts
  • Password standards

Customer Support

There is an extensive FAQ section on their website where you can find a lot of information about their services, how to open an account, and how to handle issues that may arise. Customers can reach out to the customer service team via email or phone.

You can submit a request if you don’t get an answer to your question. If you need assistance, don’t hesitate to reach out to our customer service team. The support team can be reached via email. The support team is always available to help.

You get access to financial advice once you create an account. The helpful resources can help you make smart financial decisions. Depending on the plan you choose, the Concierge Team as well as Certified Financial Planners and Executive Coaches are included. The Concierge Team, Certified Financial Planners and Executive Coaches are dedicated to helping you reach your financial goals.

Pros and Cons

It is not perfect for everyone and there are many pros and cons to it. To find the best option for your financial goals, it is important to consider all of the alternatives.

Do your homework before investing and look at all the pros and cons of different platforms. To get an accurate picture of the platform, be sure to read reviews and consumer reports.

You can see the bigger picture when you look at the pros and cons. Weighing these factors will help you make an informed decision and ensure you have a clear understanding of the situation.


  • No minimum requirement for the account
  • Low fees
  • Goal-oriented investment
  • Created primarily with women investors in mind, but offers excellent services for both sexes
  • Personal CFPs with a premium offering
  • 21 diverse asset classes


  • Low-interest rates on Emergency Fund of only 0.01%
  • Limited accounts supported
  • No automated tax-loss harvesting


Is Ellevest a good company?

Many users trust the company. Hundreds of financial sites gave them good reviews. The reviews have made them one of the top financial services companies in the industry. There are two broker-dealers for the Ellevest Private Wealth portfolios. Ellevest clients have access to a reliable platform to invest their money.

Is Ellevest a robo advisor?

Ellevest is a It was created for women. Women can use the tool to make educated financial decisions. It can be used by both men and women. It can be helpful for anyone regardless of their gender, even though it is designed to provide tailored advice to women. It is an investment platform with low fees.

Is Ellevest FDIC insured?

The Emergency Fund is insured by the Federal Deposit Insurance Corporation. The FDIC protects your money up to $250,000, so you can be sure that your savings are safe. This removes the risk from the fund. It’s a great option for investors who want to minimize risk while still taking advantage of potentially lucrative returns. You will always have access to these funds. You can use the funds to stay on top of your finances.

How much money does Ellevest manage?

In June 2020, the assets under management was $635 million. Since its founding in 2016 the company has experienced rapid growth and continues to be a leader in the digital investing space.

Alternatives to Ellevest

There are many ways to invest with Robo Advisors. There is a convenient way to invest with little to no human interaction. Pick one that suits you the best if you understand your goals and needs.

Best Alternatives:

Is Ellevest For You?

People looking to start investing can use the platform. It’s a great choice for those just beginning their investment journey because of the easy-to-use platform and personalized advice. With a number of products and services available, as well as access to coaches and planners, Ellevest might be the answer you are looking for when it comes to getting your finances sorted. Anyone who wants to take control of their finances and make informed decisions about their money should look at Ellevest.

You stand a better chance of keeping things on track if you have a goal to work towards. This is always a positive thing. Small changes can make a big difference. The low-interest rate on the emergency fund is not ideal. It is still a better option than taking out a loan with a higher interest rate.

Looking at the bigger picture is what we suggest you do. It is important to consider the pros and cons before making a decision.

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