Ellevest
“Can a women-focused financial brand win the high-trust, flat-fee CFP planning segment as robo-advisers commoditize?”
Founded2014
HQNew York, NY, USA
FoundersSallie Krawcheck, Charlie Kroll
IndustryFintech / Investment
The story
Ellevest launched in 2016 as a robo-adviser targeting women, differentiating on gender-specific salary curves and life expectancy in its investment algorithms. In 2020 it expanded into banking via a Money Membership with debit card and FDIC-insured accounts (Coastal Community Bank). Following competitive pressure and a strategic rethink, it wound down its automated investing platform circa 2023 — transferring digital clients to Betterment — and repositioned as a flat-fee human financial planning service ($3,600/year) delivered by female CFP® professionals, effectively exiting the BaaS/robo space it helped pioneer for women.
Product timeline
2016
Launched Ellevest as an SEC-registered robo-adviser focused on women investors, offering automated investing with gender-specific return projections.· pivot
2020
Launched Money Membership account with debit card and introduced Spend and Save banking accounts backed by Coastal Community Bank (FDIC-insured).· banking
2021
Partnered with Policygenius to offer life insurance fulfillment to Ellevest customers, expanding marketplace offerings.· insurance
2021
Reported $1 billion in client assets under management.· milestone
2023
Discontinued automated (robo) investing services; transferred digital clients to Betterment; closed accounts transitioned to Folio / Goldman Sachs Custody Solutions.· pivot
2024
Pivoted to a flat-fee ($3,600/year) comprehensive financial planning model staffed by all-women CFP® professionals, ending the subscription/robo era.· pivot
Regulated entities
1
regulatory licence held by Ellevest
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Ellevest’s embedded-finance stack
Banking / BaaS
Coastal Community Bank (sponsor bank)
Open banking
in the full report
Sponsor bank
in the full report
Accounting gap: none
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.