Founded in 2014, Ellevest initially emerged as a U.S.-based robo-advisor and financial literacy platform designed to address the unique financial needs of women. However, in February 2025, Ellevest announced the sale of its automated investing business to Betterment, marking a significant pivot in its business model. The robo-advisor closed on 10 April 2025.
Ellevest now focuses on wealth management and financial planning for clients with at least $500,000 to invest, and it managed about $1.13 billion at the end of 2025.
In this article, we cover Ellevest’s latest public statistics: assets under management (AUM), number of clients, valuation, fees and revenue sources.
Overview
Under its long-standing mission to “get more money in the hands of women,” Ellevest has evolved from a robo-advisor into a specialized wealth management firm. Founded and led by women, the company is now focused on serving high-net-worth individuals, particularly women, through tailored financial planning and investment management services.
Ellevest no longer offers robo-advisory plans, having sold that segment of its business to Betterment in early 2025. Accounts that did not opt out before 10 April 2025 moved to Betterment in kind. Ellevest now offers two wealth management levels: Personal Wealth Management, from $500,000, and Private Wealth Management, from $1 million, which adds select private investments and tax-efficient strategies. It also offers standalone financial planning for a flat $4,800 a year.
Its wealth management service includes:
- A dedicated team of advisors
- Customized investment portfolios
- Collaboration with accountants and estate attorneys
- Opportunities for ESG and impact investing
- Tax-efficient wealth transfer strategies
This shift allows Ellevest to deepen its focus on the complex financial needs of affluent clients, reinforcing its commitment to closing the gender wealth gap through personalized financial guidance.
Here are some key corporate facts about Ellevest:
- Founded year: 2014
- Headquarters: New York, United States
- IPO date: none (privately held company)
- Sector: Finance
- Industry: Wealth Management, Financial Advisory
- Founders: Sallie Krawcheck, Charlie Kroll
- CEO: Dr. Sylvia S. Kwan, according to the July 2026 Form ADV brochure (Sallie Krawcheck stepped down as CEO in December 2024)
- Regulator: SEC-registered investment adviser since 2015
- Custodian: Charles Schwab & Co., Inc.
Ownership
Ellevest is a privately owned company backed by over 40 investors, including its founders and several venture capital firms. Since its establishment in 2014, Ellevest has raised a total of $153.4 million over 7 funding rounds, with the latest round closed on 6 April 2022. Its Form ADV brochure also notes that Astia Angels holds a minority stake.
Here is a list of some major investors:
- Alumni Ventures
- Morningstar
- AME Cloud Ventures
- Contour Venture Partners
- Allianz Life Ventures
- Rethink Capital Partners
- BMO Financial Group
- Cleo Capital
Source: Crunchbase, Forge Global
Ellevest Users
Ellevest stands out as a platform committed to bridging the gender gap in the financial world, making it particularly tailored for women.
Before the transition, Ellevest had more than 70,000 clients.
| Reporting period | Users |
| 2024 | 70,730 |
| March 2023 | 146,549 |
| Feb 2022 | 110,300 |
| March 2021 | 123,000 |
Source: Ellevest Form ADV filings and CEO interview
Post-transition, Ellevest has refocused its services exclusively on high-net-worth individuals, families, and institutions, requiring a minimum of $500,000 in investable assets. Its latest Form ADV brochure does not disclose the number of clients. With a $500,000 minimum, the client base is now much smaller and focused on personalized wealth management.
Ellevest AUM
Ellevest’s assets under management (AUM) experienced substantial growth during its years as a robo-advisor, increasing from $197 million in December 2018 to $2.1 billion in July 2024, before it sold its robo-advisory business to Betterment.
After the sale, assets fell to about $1.13 billion at 31 December 2025, all managed on a discretionary basis, according to Ellevest’s Form ADV Part 2A brochure.
| Reporting period | Reported value |
| Dec 2025 | 1.13B* |
| July 2024 | 2.1B |
| Sep 2023 | 1.3B |
| Mar 2023 | 1.62B* |
| Mar 2022 | 1.01B* |
| Dec 2021 | 1.12B |
| Sep 2021 | 1.03B |
| Jun 2021 | 1.01B |
| Mar 2021 | 829M |
| Dec 2020 | 684M |
| Sep 2020 | 557M |
| Jun 2020 | 468M |
| Mar 2020 | 361M |
| Dec 2019 | 360M |
| Sep 2019 | 286M |
| Jun 2019 | 253M |
| Mar 2019 | 210M |
| Dec 2018 | 197M |
Source: Fintel, *Ellevest Form ADV filings and Form ADV Part 2A brochure (July 2026)
Most of the values come from Fintel, an external source, and exclude cash held in accounts, so they are not a perfect substitute for AUM. Values marked with an asterisk come from Ellevest’s own Form ADV filings.
Ellevest Valuation
Ellevest’s valuation rose steadily during its robo-advisor years. Across its 7 funding rounds, the company raised $153.4 million in total, and its latest round, in April 2022, valued it at about $364 million post-money, according to Forge Global.
Ellevest has not announced any plans for an IPO (initial public offering). Since the 2025 sale of its robo-advisor, it is a smaller, more specialised business, and no new valuation has been published.
| Reporting period | Post-money valuation |
| Apr 2022 | $364.36M |
| Nov 2020 | $198.06M |
| Mar 2019 | $163.18M |
| Sep 2017 | $82.33M |
Source: Forge Global
Ellevest Revenues
Ellevest now earns revenue mainly from asset-based fees on its wealth management accounts, plus flat fees for standalone financial planning ($4,800 a year). Fees fall as your balance grows, from 1.25% a year on $500,000 to $1 million down to 0.35% above $100 million, and are billed quarterly in arrears:
| Account balance | Annual fee |
| $500,000 to $1 million | 1.25% |
| $1 million to $2 million | 1.00% |
| $2 million to $3 million | 0.95% |
| $3 million to $5 million | 0.90% |
| $5 million to $7 million | 0.80% |
| $7 million to $10 million | 0.70% |
| $10 million to $15 million | 0.65% |
| $15 million to $25 million | 0.60% |
| $25 million to $50 million | 0.55% |
| $50 million to $75 million | 0.50% |
| $75 million to $100 million | 0.40% |
| More than $100 million | 0.35% |
Source: Ellevest website and Form ADV Part 2A brochure, checked in October 2026.
Some strategies also carry sub-adviser fees, such as up to 0.30% a year for Ethic and 0.23% a year for AllianceBernstein, according to the brochure.
Before 2025, Ellevest also earned revenue from:
- Subscription fees for its robo-advisor service
- Interchange fees from its branded debit card
- Paid 1:1 sessions with Certified Financial Planners (CFPs®), discounted for robo-advisor clients
Conclusion
In summary, Ellevest has evolved from a widely accessible robo-advisor into a specialised wealth management firm focused on serving high-net-worth individuals, particularly women, with about $1.13 billion in assets at the end of 2025. While it no longer offers entry-level investment services or automated portfolios, Ellevest continues its mission to close the gender wealth gap by providing personalized financial planning, impact investing opportunities, and expert advisory support.
What continues to set Ellevest apart is its focus on the financial challenges women uniquely face, such as career interruptions, pay disparities, and longer life expectancies. Now, through a high-touch, values-driven advisory model, the firm aims to deliver deeper impact and long-term value for its clients.
Although Ellevest is privately held and not obligated to publicly report detailed financials, this article has compiled the most recent and relevant statistics available to offer a current picture of the company’s size, direction, and role in the evolving financial landscape.
FAQ
Is Ellevest safe? Is my money with Ellevest protected?
Ellevest is an SEC-registered investment adviser and a fiduciary. It does not hold your assets itself: they are kept in your own account at Charles Schwab & Co., Inc., a member of the Securities Investor Protection Corporation (SIPC). SIPC protects up to $500,000 per customer, including up to $250,000 in cash, if the broker fails. It does not protect you against investment losses.
Is Ellevest regulated?
Yes. Ellevest has been registered with the Securities and Exchange Commission (SEC) as an investment adviser since 2015. It isn’t a broker-dealer, so it isn’t registered with FINRA (Financial Industry Regulatory Authority). Its custodian and broker, Charles Schwab & Co., Inc., is.
Does Ellevest work internationally?
No. Ellevest serves clients in the United States, and it has not announced any plans to expand internationally.
What happened to the Ellevest robo-advisor?
Ellevest sold its automated investing business to Betterment, announced in February 2025. Ellevest stopped offering automated investing on 10 April 2025, and accounts that did not opt out moved to Betterment in kind, except mutual funds. Former clients who opted out can access their funds and past documents through Goldman Sachs Custody Solutions.
How much does Ellevest charge?
Ellevest charges an annual fee of 0.35% to 1.25% of assets, depending on your balance, with a $500,000 minimum. Standalone financial planning costs a flat $4,800 a year.
