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Transition Timeline

Ellevest
  • Updated
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Overview

    • Ellevest has decided to discontinue our digital offering, including our automated investing services. We’ve entered into an agreement with Betterment, which will acquire the qualifying investment accounts associated with our digital offering. If you want your account to be included in the transition to Betterment, there’s no action needed from you, unless you received an email indicating otherwise. You can see the options you have during this transition here. 

    • These changes will not impact Ellevest Wealth Management clients, or clients who have purchased a 1:1 financial planning session or package that hasn’t been completed.

    • For a limited time, Ellevest will continue to manage existing investment accounts, support resources (including workshops, worksheets, and email courses), and honor client discounts on a limited set of financial planning packages. However, please note the important dates and service changes outlined below.

    • Note: If you don’t have an open investment account, have an account balance of $0, or submitted a request to cancel your Ellevest plan and completed the required steps (including withdrawing or transferring out all funds), your Ellevest plan will be canceled and your account will be closed automatically.

Timeline

  • As of 2/25/2025
    • In order to facilitate this transition and prevent any errors, the following limitations will go into effect as of February 25, 2025:
        • You can no longer create a new account. 
        • You can no longer download or use our iOS and Android mobile applications. You can access your account by logging in on our website. 
        • You can no longer add new investing goals. 
        • You can no longer set up new recurring deposits or edit existing recurring deposits. (Existing recurring deposits will continue as scheduled through the notice period.) You can still initiate one-time deposits and withdrawals through April 10, 2025.
        • You can no longer transfer accounts (i.e. investment accounts, IRAs, or 401(k)s) into Ellevest. You can still transfer accounts out of Ellevest, and withdraw from Ellevest IRAs.
        • You can no longer use our goal planner tool.
        • You can no longer upgrade or change your Ellevest plan. You can still cancel your Ellevest plan.
        • You can no longer purchase any 1:1 financial planning sessions or packages except for our Comprehensive Planning Package + Unlimited Support. (All previously purchased sessions and packages will be honored.) If you need help scheduling your call, please contact moneyhelp@ellevest.com.

  • As of 2/28/2025
    • Tax Form Release Begins
        • The release of 1099 / 8949 forms will begin on February 28, 2025, with all forms available no later than March 19, 2025. 
        • See here for instructions on accessing your tax forms with our custodian, Goldman Sachs Custody Solutions (formerly Folio).

  • As of 3/19/2025:

    • All 1099 / 8949 forms will be available no later than March 19, 2025. 

  • As of 4/9/2025
    • Ellevest IRA Contribution Deadline
        • To make a 2024 contribution to an Ellevest IRA, you’ll need to have an active bank link, no restrictions on your account, and a deposit scheduled on or before April 9, 2025. 
        • 2024 IRA contributions via check must be received by April 9, 2025. 
        • You can find more information about IRA contribution deadlines here. 

  • As of 4/10/2025

    • ACATS Initiate Transfer Deadline

        • If you’re transferring your account to another firm, you must initiate the transfer with your new provider by April 10, 2025.

    • Excess Contribution, Recharacterizations, and Additional Clean Up Submission Deadline
        • April 10, 2025 is the last day for paperwork to be submitted in good order and processed.

    • Self-Requested Account Closure Deadline

        • If you decide that Betterment isn’t the right fit for you, you must opt out of the transfer by logging in and submitting a request to cancel your Ellevest plan, or by emailing support@ellevest.com, by April 10, 2025.

        • Due to the high volume of our customer support queues, it may take longer than usual to review your request. You may need to work directly with Goldman Sachs Custody Solutions after April 10, 2025; however, you will no longer be charged by Ellevest.

    • Betterment Account Minimum

        • If you do not have at least a $10 balance in an Ellevest account (taxable investment accounts or IRAs) as of April 10, 2025, your account will not be transferred to Betterment, and you’ll need to work directly with Goldman Sachs Custody Solution to complete any necessary next steps.

    • Final Monthly Plan Fee

        • If you’re on a monthly Ellevest plan, your final plan fee will be charged on April 10, 2025. You’ll retain access to your Ellevest client benefits (including worksheets and email courses) through April 10, 2025.

  • 4/11/2025 – 4/16/2025
    • Ellevest Blackout Period

        • Any recurring, pending, or scheduled transfers into your Ellevest account will be canceled automatically. 

        • You cannot submit a request to cancel your Ellevest plan or transfer funds out of your account.

  • As of 4/17/2025

    • If you haven’t opted out and your account qualifies, your Ellevest account(s) will automatically transfer to Betterment.

    • If you have opted out or still have money with Goldman Sachs Custody Solutions, you will work directly with them to access your funds starting April 17, 2025.

    • Annual Plan Refund

        • If you’re on an annual Ellevest plan, you’ll receive a prorated refund for your most recently charged plan fee, returned to your original payment method. There will be no action required by you.

    • Plan Cancellation

        • Your Ellevest plan will be canceled automatically.

  • 4/17/2025 – 4/21/2025
    • Betterment Blackout Period
        • Ellevest accounts will be transferred to Betterment. If you haven’t opted out and your account qualifies, at the end of this period, you’ll officially become a Betterment client and you’ll be able to claim your Betterment account on or around April 21, 2025. You can reach Betterment support directly at support@betterment.com or (718) 400-6898 with any questions. 

        • After April 17, 2025, if your account didn’t qualify to be transferred to Betterment, you can reach out to Goldman Sachs Custody Solutions directly at (844) 413-1820 for assistance.

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