Ellevest Review 2024: Pros, Cons and How It Compares

Are you a beginner investor looking for guidance on achieving your financial goals? Look no further than Ellevest, a robo-advisor that caters specifically to the needs of women while welcoming clients of all genders. In this comprehensive review, we’ll delve into what Ellevest offers, its strengths, weaknesses, and whether it’s the right choice for you.

What Makes Ellevest Shine:

Ellevest stands out for its tailored approach to gender-based investing, recognizing factors such as women’s typically lower incomes, different earning trajectories, and longer lifespans. This means portfolios are constructed with these considerations in mind, ensuring a personalized approach to wealth building. Moreover, Ellevest’s focus on financial planning, including retirement planning and wealth building, addresses issues that can impact women differently than men.

Where Ellevest Falls Short:

Despite its strengths, Ellevest lacks tax-loss harvesting, a feature offered by some competitors, which can help minimize capital gains taxes. This omission may be a drawback for investors seeking tax optimization strategies.

Ellevest’s Target Audience:

Ellevest is ideally suited for goal-based investing, making it an attractive option for beginners who want a hands-off approach to managing their investments. Additionally, its emphasis on values-based investing appeals to those interested in supporting companies that champion gender equality and social impact.

Key Features and Pricing:

Ellevest offers a user-friendly platform with a low account minimum of $0, although some portfolios may have minimums ranging from $1 to $240. The platform charges a flat account management fee of $12 per month or $129 annually. Investment expense ratios are competitive, ranging from 0.05% to 0.17% depending on the portfolio selected.


Ellevest is a compelling option for beginners seeking personalized investment solutions tailored to their unique financial circumstances. With its focus on gender-based investing and comprehensive financial planning services, Ellevest empowers individuals to take control of their financial future.


1. Can men use Ellevest?

Yes, while Ellevest’s services are designed with women in mind, men can also benefit from its offerings. The platform provides recommendations that account for various financial factors, regardless of gender.

2. Does Ellevest offer tax-loss harvesting?

No, unlike some of its competitors, Ellevest does not currently offer tax-loss harvesting. However, it provides tax-optimized asset location and rebalancing to help minimize tax implications for investors.

3. What accounts does Ellevest support?

Ellevest supports individual taxable accounts, as well as traditional, Roth, and SEP IRAs. Additionally, it offers guidance on 401(k) accounts but does not directly manage them. Clients can also roll over or transfer various retirement and brokerage accounts.

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