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Ellevest Robo-Advisors Review


ConsumersAdvocate.org Rating: 4.7 / 5 (Excellent)
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Ellevest Inc. is a digital investment platform geared towards women. The company was launched in 2016, and is based in New York City, New York. Ellevest offers two types of portfolios: core portfolios, which have a more traditional mix; and impact portfolios, which are focused on creating thriving communities, supporting sustainable, accountable companies, and ultimately advancing women.
 
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How is Ellevest rated?

Breakdown

4.5/5
Features
4.8/5
Pricing and fees
5.0/5
Reputation

Overall Rating: 4.7 / 5 (Excellent)

Ellevest offers consumers an online-based investment platform that’s easy to use and full of tools and resources for a smoother investment experience. Its accounts offer consumers great benefits, such as personalized goal-based portfolios, low annual fees, automatic rebalancing, automatic deposits, Ellevest Tax Minimization Methodology, and unlimited support from the Ellevest Concierge Team, which includes financial advisors, among others.

Something that makes Ellevest unique is that its clients have the option to invest in Elle Impact Portfolios, which are designed to invest in companies that promote the advancement of women. Additionally, the company offers consumers discounted access to Certified Financial Planners and Executive Coaches, which is great for those who want financial and career advice. Another great thing about Ellevest is that consumers can customize their portfolios with different goals and prioritize them. Ellevest will recommend initial and monthly deposits to help them achieve their goals, which is something that sets the company apart from other companies.

Ellevest offers customer support during regular business hours via email, social media, and over the phone. Additionally, the company’s website has a complete FAQ section and an online magazine, with excellent investment-related articles to help consumers make smart decisions. So, if you’re looking for an investment platform that gives you access to professional advice and that offers personalized portfolios, Ellevest is an excellent option to consider.

Ellevest Account Features

Features - 4.5 / 5

Ellevest offers three main plans to choose from: Essential, Plus and Executive. The Essential plan offers investment portfolios, automatic deposits, automatic rebalancing, Ellevest Tax Minimization Methodology, unlimited support from the company’s Concierge Team, which includes financial professionals, and the option to invest in Ellevest Impact Portfolios. You also get a 20% discount on one-on-one sessions with a financial planner or career coach.

The company’s Plus plan offers everything included in the Essential plan, plus an extra 10% off sessions with financial planners and career coaches as well as personalized retirement planning assistance and the option to roll your IRA, 401(k) or 403(b) over to Ellevest.

The Executive Plan is the company's top tier plan and offers all the features of the Plus plan as well as the opportunity to set up personalized, goal-specific investment portfolios and have a free one-on-one meeting with a financial advisor to discuss your investment strategy. You also get a 50% discount on career coach and financial planner sessions.
Robo-advisor Type
Fully Automated
Human Assisted
Account Minimum
Ellevest doesn't have account minimums
Goals
Save Set Amount
Save for a Major Purchase
Save for Retirement
Education Expenses
General Investing
Safety Net
Integration with Other Accounts
IRA
401(k)
Other Brokerage Accounts
Types of Assets
Stocks
Bonds
ETF Portfolios
Mutual Funds
Access to Financial Advisors
Yes
Automatic Portfolio Rebalancing
Yes
Tax Loss Harvesting
Yes

Investment Focus

Consumers can invest on Ellevest Impact Portfolios, which are portfolios designed to invest in companies that promote the advancement of women.

Ellevest Fees & Commission

Pricing and fees - 4.8 / 5

Ellevest charges flat monthly fees, which vary depending on your plan. You'll pay $1 per month for the Essential plan, $5 per month for the Plus plan and $9 per month for the Executive plan. The company doesn’t require a minimum opening balance on any of its accounts and it doesn't charge you a percentage of your assets to invest with the company. But there may be some underlying fees that your ETFs may charge.

Ellevest also doesn’t charge for account withdrawals or account rollovers, and the company doesn’t charge investment management fees on assets in the Emergency Fund goal.
Billing Frequency
Monthly
Commission
Ellevest doesn't charge a commission fee.
Discounts
Fees
Annual - Calculated and deducted monthly

Financial Advisor Charge(s)

Ellevest offers consumers access to the company's Certified Financial Professionals and Executive Coaches on all of its accounts, but the cost will vary depending on the plan you choose. Essential members get a 20% discount, Plus members get a 30% discount, and Executive members get a 50% discount. Additionally, all accounts offer unlimited support from the Ellevest Concierge Team, which includes financial professionals.

Ellevest Reputation & Customer Service

Reputation - 5 / 5

Ellevest was launched in 2016, so it’s a relatively new company, and therefore, it hasn’t been rated by Moody’s, S&P, or A.M. Best and it doesn’t have TrustPilot score. However, the leadership team for Ellevest has decades of experience in the financial space. The company has a B+ rating on the BBB, which is rather positive, and all its investment products are insured by the SIPC up to the maximum allowed by federal law. Additionally, Ellevest offers customer support via email, social media, and over the phone on regular business hours.
Year Founded
2016
Consumer Financial Protection Board (CFPB) Complaints
0
SIPC Membership
Yes
BBB Rating
B+
Contact Methods
Phone
Email
Social Media
Mobile App
Yes
Date Collected
2020-08-10

Free Customer Support

Ellevest offers free customer support via email, social media, or over the phone, on regular business hours.

Company Profile

Full Name
Ellevest Robo-Advisors
Company Website
https://www.ellevest.com/
Headquarters
48 W 25th Street , 6th Floor, New York, NY, 10010

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