Ellevest Review: Best Robo-Advisor for Female Investors

Sal Ramezani

David Ramezani

Advertising Disclosure

Perhaps one of the unique investment platforms today is Ellevest. Why? Their approach is to ensure that women feel comfortable in the investment and financial industries. Ellevest seeks to make investing a safe place for women. In their own words, “Ellevest was built by women, for women. The financial industry wasn’t.”

So, what makes their platform a safe place for women to invest in the stock market? Do they offer other financial features and benefits? Can men invest in the platform as well? These are all common questions you may have asked, all answered here in this Ellevest review.


What Is Ellevest And How Does It Work?

Ellevest is considered a modern Robo-advisor, but with an emphasis on helping women invest in the stock market. Like many Robo-advisors, Ellevest offers multiple financial tools outside of just the traditional investment account. Some examples are their basic checking account, savings accounts, and excellent educational content.

Furthermore, their platform features regular courses and live meetings to help investors learn how to maneuver the stock market with confidence. Their investment strategies are customized to tailor your personal needs with impact investing options.

What’s more, is they offer additional retirement planning tools and resources to help its users plan for retirement or update their current plans to ensure they are on track to hit their retirement goals. The Ellevest magazine that all subscribers get access to features topics on investing, finances, and living a happier life. Last but not least, Ellevest even gives you options to work with their private wealth management team for additional and more focused investment planning.

Ellevest Pricing

Ellevest has three packages that you can subscribe to, each offering different benefits. They are:

  • Essential Package ($1 per month): This package offers all the basics of opening an Ellevest account, including an investment account, access to learning tools, and banking products like a checking and savings account. You also get 20% off coaching access.
  • Plus Package ($5 per month): This package comes with everything included in the essential package plus access to a retirement investing account along with 30% off coaching access.
  • Executive Package ($9 per month): The Executive package includes everything in the Essential and Plus packages, plus access to multi-goal investing and 50% off coaching access.

Choose your plan with Ellevest here.

Focused on Women

How does Ellevest provide a positive environment for women? In short, the benefits come with the community and the platform of women. Women can feel comfortable and at ease, knowing they are investing with other like-minded women who wish to learn more about the stock market. The great thing is their community consists of women investors of all experience levels, including complete beginners and seasoned experts.

The Ellevest staff is primarily made up of women advisors who have experience and licensing for investing and advising you on your finances and investments. Nowhere else will you find a community of driven women with the primary goal of bettering their finances and learning the ropes of investing in the stock market.


Is it made just for women?

While it was “…built by women, for women…”, they still allow anyone to join the platform and participate in the many unique investment tools and resources they have to offer. But it’s safe to say that your community will be made up of a women majority.

Features & Benefits of an Ellevest Membership

A platform made by women, for women, because the financial industry is traditionally the opposite, Ellevest also has a plethora of features and benefits for all its investors. Below is a list of their most well-known features that make them different from other investment platforms.

Personalized Investment Portfolio

The great thing about Robo advisors is they tailor your investment portfolio to your wants and needs. If you have a short time horizon, then they will recommend a portfolio that meets that time horizon. Perhaps you’re preparing for retirement and have a long time before you’ll ever need the funds. They will provide you an expert-created portfolio to suit those needs.

How does this work? First, you will answer a series of questions when you first open your investment account that will give its algorithm a good idea of your wants, needs, and beliefs. Questions might range from what your income is, what your current savings or investment balances are, how much experience do you have investing, or how comfortable are you with market volatility. Your answers will trigger the Robo-advisor algorithm to customize a portfolio to your needs and wants.

Investment Strategy

Ellevest’s investment algorithm considers important realities in today’s society, specific to women. Some examples are pay gaps, career breaks, and longer life spans. All of these realities are considered when your recommended portfolio is being built.

Your recommended investment portfolio will consist of a mix of different investments such as stocks, bonds, exchange-traded funds (ETFs), and other related or alternative investments such as real estate funds. Diversifying your portfolio among multiple investment types and asset classes will help lower your overall risk exposure to any one investment, resulting in more consistent returns.

They don’t have any minimum deposit amounts to start investing, so anyone can begin with as little or as much money as you would like.

Impact Investing

What is impact investing? Impact investing is a modern investment strategy where investors invest in companies or funds that are supporting major movements or beliefs that align with their own. Examples of this might include investing in companies that are run by women or investing in companies supporting green energy, for example.

Ellevest’s diversified portfolio considers these wants and needs of its users and implements them into your customized portfolio recommendation. You will see within your portfolio ETFs that are comprised of funds that meet these wants or needs, as stated on your investment profile.

Educational Content for Finance & Investing

Sure, most Robo advisors today include some form of educational material to make their platform beginner-friendly. But, not many of the platforms out there offer as detailed insight and educational materials as Ellevest. A few of the second-to-none educational content found on Ellevest include:


Digital Workshops

Digital workshops are featured regularly and are accessible to all Ellevest users. You can learn about different topics related to the stock market, investing, funds, and anything related to improving your financial knowledge and competence.

In-App learning

Within the Ellevest app, you will find additional videos and articles on common investment topics, as well as investing tips to help accelerate your portfolio growth and financial progress.

Courses & Guides

As a subscriber to Ellevest, you can select to have newsletters emailed to you regularly at your own pace and discretion so you can learn bit by bit, and before you know it, you’ll be investing like the experts!

Progress Reports

If you don’t measure your progress, then you’ll never know what direction you are actually heading. You’ll get personal progress reports on your money’s growth and your investment portfolio performance with included visuals and graphs.

Access to Ellevest Coaching Sessions

Coaching sessions are categorized into different topics, such as:

  • Budgeting and spending
  • Career transition
  • Money check-up
  • Impostor syndrome

And many more! When you purchase a coaching session, you will get a stated discount if you’re a member and depending on your membership package. Next, you will get a chance to meet your coaching team and discuss personal goals and plans for your investing. After your session, you’ll have a detailed plan and action steps to help you reach your financial goals discussed in your coaching session. Coaching sessions regular prices range anywhere from $175 to $750, with each offering a range of different coaching benefits. Remember, if you’re an Ellevest subscriber to one of their packages, you’ll get anywhere from 20% – 50% off these coaching packages.

Personalized Checking & Savings

To make the platform a central hub for everything related to your finances, Ellevest gives you options to open a basic checking account with zero fees and a savings account for short term savings goals. The checking account offers the ability to round up your daily expenses to the next whole dollar and save or invest the spare change.

Private Wealth Management Options

If you have more detailed needs for investing your money and financial planning, you can meet with Ellevest’s private wealth management team comprised of a team of professionals and dedicated specialists to help you navigate your money properly and eliminate risks.

Where Ellevest Falls Short

While Ellevest has a great platform for women to invest and make financial plans, there are a few things that may be beneficial to new users who wish to have access to a more complex platform, such as:

  • The ability to invest in individual stocks
  • The ability to be more selective in choosing your portfolio’s investments
  • More detailed feed of relevant stock market and economic news

In short, Ellevest is for women who wish to be passive investors who seek to learn the ropes of investing in the stock market with additional expert help as needed.

Who Is Ellevest Best Suited For?

Should you invest with Ellevest? For starters, if you’re looking for a community of women whose goals are to provide you with a customized approach to investing for women, Ellevest takes the trophy on this one.

Ellevest will also be beneficial for investors who wish to take a passive approach to invest in stocks, meaning they can manage their investments on a passive basis because the platform does most of the work for you. Furthermore, if you want to learn from expert women investors, Ellevest has access to some of the top women’s financial coaches with only your best interests in mind.