Estimated reading time: 0 minutes, 57 seconds

Ellevest, a Robo-advisor Just for Women Investors  

Investing for retirement and other financial goals is different for women. That’s due to a variety of reasons, including a longer life expectance and potentially reduced earnings. So reports CNBC.

EllevestEllevest, which launched in 2016, is geared specifically towards the needs of women investors. It employs “gender-specific algorithm that accounts for some of the factors that limit a woman’s ability to invest.”

It offers “individual taxable brokerage accounts, Roth IRAs, traditional IRAs, SEP IRAs and rollover IRAs,” and there are no minimums to open an account, but there are minimums of up to $240 for certain portfolios. It also offers 1:1 coaching with financial planners and coaches. It has a 4.8/5 score in the Apple App Store, although some of the complaints say the app can be “buggy.”

The bottom line, according to the CNBC review, is that “Ellevest could be a good option for individuals who are new to the world of investing and personal finance and want an app that will tailor their investment strategy to them while accounting for gender differences.” However, it notes, the membership fees and investment expense ratios as potential downsides.

Read the full article from CNBC.

 

Read 724 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.