The gender investment gap is threatening the economy in a big way, but Ellevest hopes to help. Ellevest is an app that helps women (and a few men) build their own interactive financial plan. These are based on individual needs such as saving for retirement, or starting a business or even a once-in-a-lifetime splurge. The algorithms then take into account other factors like account salary projections and life expectancy to make realistic projections and plans.
Through Ellevest, women will be able to start investing with a diversified set of exchange-traded funds (ETFs), something that this gender doesn't often do. What sets Ellevest apart from similar online platforms is its customization across 21 different asset classes, which isn't common at all. This is tailored to female behavior. If they have to pick, they won't do it.
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Ellevest Aims to Close Financial Gap for Women
- By: Meghan YoungMay 11, 2016