Digital Investment Platform for Women
DENVER, July 11, 2016 /PRNewswire/ — Denver women will soon become even more financially empowered because Ellevest, a first-of-its-kind digital investment platform for women, is launching this week in the Mile High City.
Recently named one of the best cities for female entrepreneurs and laying claim to one of the smallest gender pay gaps in the U.S., Denver will be the second city to have total access to the platform, starting Wednesday, July 13.
Co-founded by Wall Street veteran-turned-entrepreneur Sallie Krawcheck, Ellevest aims to close the gender investing gap and redefine investing for women with a practical, goals-based approach. The platform offers clients tailored investment portfolios, allows women to invest in multiple goals simultaneously and monitors their progress, alerting them if they fall off track for their goals.
“Women live longer than men and often take more career breaks than our male counterparts, making investing all the more crucial to women’s financial health,” said Krawcheck. “The gender investing gap can cost some women more in the long term than the gender pay gap, but no one is talking about it yet. For example, a Denver woman in tech making $72,000 is losing about $60 each day over a 40-year period if she’s not investing.”
Breaking Down Barriers
Ellevest aims to break down the barriers that have kept women from investing; its proprietary algorithm considers the details of each woman as an individual (her age, education and income, among other factors), as well as her unique goals, to inform the design of a personal investment portfolio tailored to help her meet these goals.
Krawcheck continued, “We want to educate women about this issue and provide them with the tools to take control of their finances through investing. In doing so, we hope to empower more women to reach their goals, whether that means buying a house, traveling the world, retiring on her own terms or all of the above.”
Ellevest requires no minimum balance and charges a flat rate of 50 basis points (0.5 percent) per year of managed assets; this is a much lower rate than that of traditional financial advisers, who can charge 1 to 2 percent annually, with minimum asset requirements of a couple hundred thousand dollars.
The Ellevest platform, which has multiple patents pending, operates as a fiduciary, and it applies modern safety standards, including browser encryption, fraud mitigation and privacy protection. Ellevest was created and is supported by an incredibly diverse and experienced team, including Krawcheck, who has nearly 30 years of experience leading financial services companies on Wall Street, and Chief Investment Officer Sylvia Kwan, who is a chartered financial analyst with a Ph.D. in engineering economic systems from Stanford University. Other top team members come from backgrounds ranging from Vogue.com and Weight Watchers to Goldman Sachs and financial technology startups.
Ellevest will host an event at Union Station the evening of July 13. For more details and to RSVP, please visit http://denver.ellevest.com/
To learn more about Ellevest and to begin investing, please visit www.ellevest.com.
Ellevest, a federally registered investment adviser, offers a digital investment platform that is reimagining investing for women with a practical, goals-based approach. Ellevest gives women the tools they need to take financial control: a straightforward, full-picture investment plan that reflects real life.
Ellevest does not guarantee investment performance. All investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. For more information, visit www.ellevest.com.