The financial services industry was built by men, for men — which means it was not built for women.
Case in point: 99% of investment management firms are owned by white men; 86% of financial advisors are men; more than 90% of professional stock traders are men; more than 95% of fund managers at the largest hedge funds are men; 90% of mutual fund managers are men (and 98% of mutual fund assets are controlled by men).
Financial advice is not gender-neutral. Women’s financial lives are different — we tend to get paid less, stop getting raises a whole decade earlier, live longer (which means we need to rely on our retirement accounts — if we have them — for longer), pay the pink tax, have more debt, do more unpaid labor, get fewer promotions … and so on.
Isn’t it time for a financial company built by women, for women?
Ellevest’s digital investing platform brings women’s real lives into the data model so that we can give you more tailored financial advice — advice that we believe can be more likely to help you hit your goals.
For example, we use a gender-specific, education-based salary curve provided by Morningstar Investment Management to give us a more realistic view of more likely amounts women may be able to earn, save, and invest. Also, to account for women’s longer lifespans, our retirement recommendations help women aim for a higher target amount.
We’ve also built a team of money coaches, career coaches, and Private Wealth advisors who get it. They understand the biases and setbacks women face every day, and they’re here to help women succeed while navigating that reality.