{"id":17274,"date":"2025-06-25T22:54:20","date_gmt":"2025-06-25T22:54:20","guid":{"rendered":"https:\/\/finderica.com\/?p=17274"},"modified":"2025-06-25T22:54:20","modified_gmt":"2025-06-25T22:54:20","slug":"ellevest-review-2023-pros-and-cons","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=17274","title":{"rendered":"Ellevest Review 2023: Pros and Cons"},"content":{"rendered":"\n
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\"ScoreCard<\/p>\n

Women have fought for a place at the proverbial table, and now they\u2019re showing up strong. During the pandemic, more businesses have been started by female founders, and more women than men have entered higher education.<\/p>\n

Even so, fewer investors are female, and the gender pay gap persists. That\u2019s where Ellevest comes in.<\/p>\n

Ellevest is an investing service aimed at tackling women\u2019s unique financial burdens, taking into account things like reduced wages growths, career breaks and longevity. We love this focus but also like that Ellevest is open to all users, regardless of gender or identity.<\/p>\n

In fact, whether these gender burdens apply to you or not, Ellevest\u2019s personalized advice for banking and investing makes Ellevest a good investing choice. Plus, with two membership plans, you can tailor the service to find your financial fit.<\/p>\n

In our Ellevest review, we\u2019ll start with a quick rundown on how investing with Ellevest works, then walk you through the membership options, and finally flesh out each of the important features Ellevest offers so that you can get all the information you need to decide how best to start growing your money your way.\n<\/p>\n

How Does Investing With Ellevest Work?<\/h2>\n

Ellevest uses a robo-advisor to develop an investing portfolio that matches your targeted goals and timeline. You simply download the app, enter some basic information like your age, gender, income, etc, and then set a financial goal.<\/p>\n

Do you want to buy a house in five years? Start a family? Create an emergency fund? Or build wealth in general? Ellevest will take specific goals into account and create a mix of ETFs (exchange traded funds) and mutual funds for you to invest in.<\/p>\n

Before moving onto the portfolio specifics, however, you have to sign up for the specific Ellevest membership that you want. Starting at $5 a month, Ellevest offers two membership tiers with different costs and perks for each. Jump to the next section if you\u2019re curious which one will work best for you.<\/p>\n

Once you\u2019ve signed up for your membership, you\u2019re ready to invest. With Ellevest, you don\u2019t get to choose individual stocks or bonds; instead, you simply pick between their two portfolio offerings:<\/p>\n

While both are created with your particular risk tolerance and financial goals in mind, the Ellevest Impact Portfolios<\/a> are focused on furthering positive social impacts and advancing women\u2019s leadership positions.<\/p>\n

Because Ellevest\u2019s first priority is helping you meet your financial goal, not all of your funds will be placed in impact investments if you choose the Impact Portfolio, but Ellevest will find the best way to balance your financial needs with positive social change. Socially conscious and fiscally responsible, we love it!<\/p>\n

This specialization and impact does come with slightly higher fund fees (between .13% to .19%), so if you\u2019re strictly looking for financial gains, the Ellevest Core Portfolio<\/a> is a good option. Like the Impact Portfolio, it\u2019s diversified and personalized for you with slightly lower fund fees of .05% to .10%.<\/p>\n

Once you\u2019ve picked your portfolio, then you\u2019re done\u2013you\u2019re officially an investor.<\/p>\n

While the investing is done, Ellevest doesn\u2019t stop trying to help you grow your wealth\u2013and financial knowledge\u2013with perks like automatic paycheck direct deposit that allows a set amount to be deposited into your investment each month or free financial workshops and articles. If there\u2019s anything we love, it\u2019s a no-stress way to grow wealth and stay well-informed. Well done, Ellevest.<\/p>\n

Ellevest Membership Choices<\/h2>\n

In order to invest with Ellevest, you have to pick a membership. Most other investment options have a percentage-based fee that charges more the more money you put into your investment; Ellevest, on the other hand, has flat fee memberships. Basically, you can put in a dollar or a million and your fee doesn\u2019t change.<\/p>\n

Ellevest offers two different membership plans:<\/p>\n