- The investment world is dominated by men – studies have repeatedly shown this. For this reason, "gender-neutral" investment advice is well meant, but it privileges the interests, salaries and goals of men.
- Enter Ellevest, a robo consultant who is the first woman to build portfolios based on different criteria and offers impact portfolios that invest in socially responsible companies.
- I became interested in Ellevest as a financial woman and I'm so glad that I signed up. Although I pay a monthly fee for managing my wealth, I have seen my money grow in the short amount of time I had my money in Ellevest's account.
- Join Ellevest today and invest in companies that share your values »
If I asked you to imagine the floor of the New York Stock Exchange or an investment banker, what kind of pictures come to mind? In my eyes, I often see the busy trading hall with lots of bespoke suits and short hairstyles, corner offices, live updates that roll across Times Square screens, and not many women in general.
Even as a woman with multiple investment profiles and my own successful business, I still see the investment world mostly as male. And I'm not from the base. According to SoFiMen invest more money (and more aggressively) than women. Plus, women hold on a fraction of the senior positions at investment firms.
Ellevest is a robo consultant, where women come first
Fortunately, Ellevest exists and tries to shift the tide; It is an investment company founded by women with the aim of promoting female investors.
Ellevest takes a gender approach to investment because according to his researchGender-neutral investments are usually based on the salaries, lifestyles, goals and experience of men and men.
Ellevest does not target women because women tilt Invest the same way as men, but because gender-neutral investing is not by default just – It favors men's interests, preferences, higher salaries and shorter lives.
As a robo advisor, Ellevest takes into account the goals, risk aversion and finances of each investor when compiling a client's portfolio. It's no secret that women generally tend to invest in a conservative Way as men, which leads to long-term profits and not to volatile short-term gratifications. So Ellevest investment forecast Takes into account hundreds of market scenarios, historical downturns, and the impact of taxes and fees on portfolio building.
I was sold as a woman with a data-driven brain. I immediately registered with Ellevest as soon as I found out about it.
My Ellevest experience
The registration process was relatively straightforward: I simply entered my personal details and short or long term goals and then submitted my salary and the current value of all funds that I wanted to consider. As a member I could link a credit union account, checking account, savings account, investment profile, 401 (k) or any other type of account that I had.
Next, I was able to choose an overall financial goal. Whether I want to build wealth, retire on my own terms, start a family or business, buy a house, or save for a vacation or emergency, my Ellevest account would be tailored to that specific goal.
In order to achieve my personal financial goals, I chose the option to build up my wealth over the long term. For this setting, Ellevest presented me with a 20-year forecast with error bars that range from their value in a very bad market to their value in an exceptional market.
This projection was based on pre-set monthly and one-time investments, but I can change it at any time to explore different projection scenarios. I have linked my bank account to Ellevest and set up a recurring, automatic monthly deposit.
My personal portfolio was characterized by broad exposure to the entire US stock market, a significant portion of emerging international corporate stocks, and a low focus on US bonds. However, I can increase my aggressiveness (more emphasis on stocks) or my conservatism (less emphasis on stocks) as I see fit.
Ellevest offers another interesting option: impact portfolios.
Impact portfolios redistribute equity and bond ownership to include companies that highlight women in leadership, sustainability, accountability, and community development. If I switched to an impact portfolio, I would still leave a significant portion of my stock ownership as it is, but 49% of my ownership would be given to fund companies that meet these impact portfolio goals.
It was a breeze for me. If I could invest ethically and even do it better In the long run it was worth it slightly higher average fund fee, Instead of sticking to my core portfolio, I switched to an impact portfolio.
The fees are worth it
Investing with Ellevest is not completely free of charge, but it shouldn't be. Using Ellevest to manage my money is so easy that I have no concerns about paying small fees. These fees represent a small percentage of your money managed and the rate you pay depends on whether you are investing with Ellevest Digital or Ellevest Premium.
Premium offers financial planning and career coaching services, but at that point I decided to stick with primary care until I have significant funds under management.
With the basic Ellevest digital service, Ellevest deducts 0.25% of my managed credit annually. However, this fee is somewhat offset by the $ 20 gift Ellevest paid into my account as a sign up bonus.
My money is growing
After a few months, I realize that invest with Ellevest was a smart move. With my personal attitudes and recurring deposits, I have achieved a total growth of 2.6% in this short time. Ellevest shows me exactly how much money I invest in each component of my portfolio and remembers exactly where my returns come from. It is very transparent and transparency is very important to me.
I appreciate Ellevest because it helps make investments accessible to consumers who don't have a substantial amount of capital that can be used for a game portfolio.
Above all, due to the use of data, Ellevest is one of the more competitive investment companies at all. By considering historical market conditions and the impact of gender, salary and life expectancy on realistic financial forecasts, Ellevest makes it easy and motivating to stay on the right track.
I plan to stay with Ellevest in the long run and I look forward to seeing how my money will continue to work for me.