After careful consideration, the Ellevest team has made a difficult decision: We’re discontinuing our digital offering, including our automated investing services. Ellevest still exists, but will now be entirely focused on our wealth management and financial planning services.
We’ve partnered with Betterment, which will acquire the investment accounts associated with our digital offering.
If you do want your Ellevest account(s) to transfer to Betterment:
There’s no action required; you’ll be opted in automatically. Your account will automatically transfer to Betterment on or after April 17, 2025. Your account assets will be transferred to Betterment in-kind, so there will be no tax implications associated with the account transfer itself. Please note that if your account includes mutual funds, those funds will be liquidated (which may have tax implications) prior to the transfer to Betterment.
Following the transfer, your Ellevest portfolio strategy will be gradually transitioned to a substantially similar Betterment portfolio strategy (described in “Portfolio Comparison”), using additional cash flows (deposits, contributions, dividends) and automated rebalancing to help minimize tax impact.
You’ll receive additional instructions for claiming your Betterment account closer to the transfer date.
Annual Ellevest plans that need to be canceled before the end of your billing period will be issued a prorated refund for your most recently charged plan fee, returned to your original payment method on or around April 17, 2025. There’s no action needed from you.
If you don't want your Ellevest account(s) to transfer to Betterment:
You’ll need to opt out by logging in on ellevest.com and submitting a request to cancel your Ellevest plan by April 10, 2025. If you opt out, your account will not be transferred to Betterment.
As part of the cancellation process, you’ll need to either withdraw your funds or transfer your account to another provider. Withdrawing your funds may result in the realization of capital gains.
If you’re transferring your account to another firm, you’ll need to fill out an Automated Customer Account Transfer Service (ACATS) form, which you can obtain from your new broker-dealer, and provide them with the Goldman Sachs Custody Solutions DTC number 728 and your Ellevest account number (available on your account statements). Any full withdrawal or transfer to another firm must be initiated by April 10, 2025, in order to avoid the limited services you would have at Goldman Sachs Custody Solutions (our custodian).
If your Ellevest account(s) contains less than $10 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. Please reach out to Goldman Sachs Custody Solutions at (844) 413-1820 with any questions.
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