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Ellevest Review: Is It the Best Robo-Advisor for You? – GOBankingRates

GOBankingRates Score

Our take: Ellevest offer…….

GOBankingRates Score

Our take: Ellevest offers financial products to a largely underserved group of investors — women. However, everyone is welcome to invest with the robo-advisor. Ellevest is ideal for new investors interested in strategically building wealth over time with minimal risk. In addition to hands-off investing, Ellevest offers other financial products, including banking, retirement and insurance.

  • Fees

  • Breadth of Products

  • Digital Experience

  • Customer Support

How did we calculate this?


  • No account minimums
  • Inclusive for all gender identities
  • Managed investment portfolios that are among the most diversified of all robo-advisors
  • Female-focused investing goals
  • No account fees for checking and savings accounts
  • Roundup feature moves spare change from every transaction to your savings or investment account
  • Flat-rate membership fee replaces percentage-based commission


  • Doesn’t support trading
  • Tax-loss harvesting unavailable
  • Email support only unless you’re paying for a higher membership tier

About Ellevest

Investing has been traditionally known as a man’s world. According to Ellevest, 99% of investment management firms are owned by white males, with women comprising about 8% of investors. Ellevest hopes to change this by providing financial services “built by women, for women.” Ellevest’s investment algorithm takes into account gender-specific factors such as career and pay gaps, as well as longer than average lifespans.

Ellevest Features

Some of the most unique features of Ellevest include the following:

  • Anyone can purchase one-on-one sessions with a career coach or certified financial planner.
  • Three plans, which range in price from $1 to $9 per month, that automatically invest your contributions and manage them for you.
  • FDIC-insured, low-fee banking consists of a spending and savings account plus a debit card.

How Does Ellevest Work?

Ellevest wants to make investing possible for everyone. You don’t need experience — Ellevest’s investment platform uses algorithms to automatically invest and manage your money.

There are no account minimums. All you need to do is choose a membership level and the type of investment you’re comfortable with. Here’s how to get started:

  1. Answer questions about your financial goals and current situation.
  2. Pick an investment plan. Your options are:

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