New Client RIA Testing: RIA Non-Monetizing Review
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Our Take
4.0
Reviewed in: Jan. 2022
Period considered: Aug - Oct. 2021
Ellevest offers three tiers of service, starting at $1 a month. Members get discounted access to professional help, free educational resources and a unique investing algorithm that factors in women’s pay gaps, career breaks and longer lifespans. Ellevest Private Wealth Management is available for investors with $1 million or more.
SigFig
Fees
0.25%
management fee
Account minimum
$2,000
Fees
0.25%
management fee
Account minimum
$2,000
Promotion
First $10,000
managed free
Show details
Pros & Cons
- No account minimum.
- Goal-focused investing approach.
- Portfolio that factors in women's needs.
- Private wealth management option.
- IRA access is for Plus and Executive members only.
- No tax-loss harvesting.
Compare to Other Advisors
$0
$0
1 Free Stock
0.03% - 3.49%
$0
$20 of BTC
Varies by Advisor (free initial consultation)
$150,000
3-Month Satisfaction Guarantee
$1,000 and up
$0
Limited time $550 kick-start offer!*
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Full Review
Where Ellevest shines
Ellevest specifically focuses on the needs of women: Gender-based investing at Ellevest means factoring women's generally lower incomes, different lifetime earnings curve and longer lifespans into portfolio construction. (Yes, men can be clients, too: They get recommendations that account for their own salary curves and longevity data.)
Ellevest’s coaching: Ellevest helps clients learn about everything from retirement planning to how to negotiate for a raise and career counseling — issues that can affect women differently than men.
Where Ellevest falls short
IRA access: You can only get IRA access at the higher-cost Plus and Executive levels.
No tax-loss harvesting: Ellevest does not offer tax-loss harvesting, unlike several of its competitors.
Ellevest is best for:
Goal-based investing.
Hands-off investors.
Beginning investors.
Values-based investing.
Career coaching.
Financial planning sessions.