Ellevest Continues to Grow but Not as Quickly as other Digital Wealth Startups

Digital wealth startup Ellevest has grown to more than $600mn in assets under management since launching 4 years ago but many are beginning to wonder if the company should be bigger; some of the other digital wealth startups like Betterment, Personal Capital and Wealthfront have billions in assets under management; Co-Founder & CEO Sallie Krawcheck says comparing to some of the other firms is not the right way to look at the business since women earn less than men and therefore have less assets to invest; “At Ellevest, we don’t see digital investment platforms as direct competitors because we have a different audience demographic,” Krawcheck said in a statement to Business Insider, adding that “in comparing us to other companies in the category, you have to consider the fact that Ellevest’s membership base doesn’t have the same amount of money to invest as others’ users.”; Krawcheck built her career in wealth management becoming one of the most powerful players in the industry; like other digital wealth platforms the company offers tech only solutions and a human advisor solution for more money; the company is still driven by their core mission: get more women investing in the market, and close the gender wealth and income gap. Business Insider

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.