Why do you ask for my salary and other personal info during the signup process?

Ellevest is a fiduciary, which means we’re legally required to put your best interests first, always. (It’s also just the right thing to do.) In order to give you advice that aligns with your needs, we need to learn more about you and your financial situation. 

For example, our investing platform relies on 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 and invest. We use your actual salary to estimate how much we expect you’ll be able to contribute to an investing goal every month, which helps us project the value of your goal at the end of its timeline.

We also ask you to securely connect an external bank account, because this is how you’ll pay your monthly membership fee and add money to your investing and banking accounts.

Finally, toward the end of the sign-up process, we need to collect certain information in order for us to comply with regulatory requirements and establish your financial accounts, including your Social Security number.

Rest assured that we take security very seriously and do not share your personal information with any third parties who might want to market to you.