There is nothing prouder than finding platforms made by women for women especially on the finance support and business levels.
Luckily this type of education became more accessible to all women through Apps and e-platforms.
Considering these leading platforms, let us get to know more about The Woman behind Ellevest.
What is Ellevest?
Ellevest is a financial company built by women, for women.
All the services they offer reflect their mission — to get more money in the hands of women and other people who are underrepresented because of their gender identity.
They plan to help you with all the different pieces of financial self-care. For Ellevest members, that includes helping you start investing, plan for your dream retirement, start saving sooner, work towards your short-term goals, access one-on-one help from a coach, and learn to do things like follow a budget, pay off debt, and negotiate for more money at work.
For Ellevest Private Wealth Management clients — those looking to invest $1M or more — it includes providing customized financial strategies and impact investing, plus other personalized services like executive coaching.
Here, women at all stages of their financial lives can invest more, save more, and do more with their money and career.
Banking products and services are provided by Coastal Community Bank (“Coastal”), Member FDIC, pursuant to license by Mastercard International. The FDIC through Coastal will insure your Ellevest Save and Ellevest Spend Account deposits to the regulatory limits.
From a digital investing platform’s gender-aware algorithm to the advice provided by a team of money coaches, career coaches, and Private Wealth advisors, their approach is validated by research and data on women’s lived reality.
Financial wellness isn’t just about saving and investing your money — it’s about earning more money, too. Members have access to not only investing and banking services, but also learning opportunities (like courses and online workshops) to help with your money and career. And members can get up to 50% off all money and career coaching sessions.
Private Wealth clients have access to a full team of wealth management professionals, who take the time to learn about your goals before building you a customized investment plan using globally diversified, cost-aware strategies. Private wealth clients also have access to complimentary executive coaching services.
The Woman behind Ellevest
“Uncertainty is even more stressful than the certainty of pain. Get clear on where you stand financially, and make that plan. That’s financial self-care.” –
Sallie L. Krawcheck (born November 28, 1964) is the former head of Bank of America’s Global Wealth and Investment Management division and is currently the CEO and co-founder of Ellevest, a digital financial advisor for women launched in 2016. She has been known as the most powerful woman on Wall Street.
By March of 2021, Krawcheck had guided Ellevest to $1 billion in assets under her management. Before launching Ellevest, Krawcheck had a powerful career on Wall Street. She served as the CEO of Smith Barney, Merrill Lynch and Sanford C. Bernstein. She also worked at Citi, first as the bank’s CFO and then as its head of wealth management, a role she held until the 2008 financial crisis.
Years ago in her first marriage, Krawcheck — who was the CEO of Morgan Stanley’s wealth management division Smith Barney and then the CFO of Citibank — found herself making more than her husband.
The fact that she was succeeding professionally while he was “plateauing,” was “part of what broke the marriage down,” Krawcheck tells Sale.
After their divorce, Krawcheck had to learn how to handle her own finances for the first time. That’s because, even though she had been making more, and even though she had been the one to go to business school, she had let her husband manage their money.
“I knew vaguely how much we had,” Krawcheck says. “It’s not that I didn’t know. It’s that I wasn’t in control of it.”
That, Krawcheck discovered, was a mistake. “When you’re reeling from a break to a relationship, that’s a really bad time to try to figure out how to manage your money,” the CEO says.
When Sale asks her, what going through a divorce taught her about money, Krawcheck replies, “Have it.”
Authored by Yasmine Deraz
Edited by Yara Fakhoury
“Fujn fuses learning with earning in a fun way. Fujn is made by women for women. Ladies, dare to reimagine your possibilities! Check us out at www.Fujn.us, Fusion spelled F. U. J. N”