Ellevest Wealth Management Review 2025: Pros, Cons and How It Compares
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Our Take
4.6
Reviewed in: April 2025
Period considered: April 2025
Ellevest offers wealth management and financial planning service for investors with $500,000 or more.
Ellevest Wealth Management
Fees
0.25% - 1.25%
Account minimum
$500,000
Fees
0.25% - 1.25%
Account minimum
$500,000
Promotion
None
no promotion available at this time
Show details
Pros & Cons
Comprehensive financial planning.
Most advisors are certified financial planners or chartered financial analysts.
Customized portfolios.
Manages alternative assets.
$500,000 investment minimum.
Relatively high management fee at lower balances.
Compare to Other Advisors
$1,000 and up
$0
None
0.30%
$50,000
None
Up to 1%
$250,000
$250 off
NerdWallet doesn't invest its money with this provider, but they are our referral partner – so we get paid only if you click through and take a qualifying action (such as open an account with or provide your contact information to the provider). Most importantly, our reviews and ratings are objective and are never impacted by our partnerships. Our opinions are our own. Here is a list of our partners and here's how we make money.
Get more smart money moves — straight to your inbox
Become a NerdWallet member, and we'll send you tailored articles we think you'll love.
Full Review
Over 60 investment account providers reviewed and rated by our expert Nerds.
More than 50 years of combined experience writing about finance and investing.
Hands-on testing of provider websites and investment platforms.
Dozens of objective ratings rubrics and strict guidelines to maintain editorial integrity.
How do we review robo-advisors?
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. robo-advisors. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. Our highest priority is maintaining editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across 16 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating robo-advisors and our process, read our full methodology.
Where Ellevest shines
Ellevest specifically focuses on the needs of women: Gender-based investing at Ellevest means factoring women's generally lower incomes, different lifetime earnings curve and longer lifespans into portfolio construction.
Ellevest’s advisor access: The majority of Ellevest's advisors are either CFPs or CFAs, and the all-women team specializes in high- and ultra-high-net-worth individuals. Clients can meet however is most convenient, including in-person, video chat, email or phone.
Where Ellevest falls short
High account minimum: Ellevest's account minimum is $500,000, among the highest of all advisor services we review.
Alternatives to consider:
For lower account minimums: Facet Wealth, Merrill Edge Guided Investing
Who should choose Ellevest?
People looking to make an impact with their investments: Ellevest's goal is to help investors effect the change they want to see in the world without compromising returns. They aim to accomplish this primarily through a diversification strategy in which private investments support clients' values-based goals, but have low correlation with public markets. This, Ellevest says, helps create meaningful portfolios that are less-sensitive to broader volatility in the markets.
High net worth individuals and accredited investors: Ellevest's high minimum will likely exclude those just starting out in their wealth-building journeys, and some of the alternative private investments Ellevest provides access to may require accreditation. This means you'll need to have had income of more than $200,000 for the past two years (or $300,000 in household income) or net worth over $1 million.
What the Nerds think 🤓
Bella Avila, Content Management Specialist"Ellevest's team of all-female financial advisors and planners really stands out to me. It gives Ellevest a unique edge on the competition and makes it a good fit for female investors who want to talk to someone with in-depth knowledge of gender-based investing."
Ellevest Wealth Management at a glance
Reviewed in: April 2025
Period considered: April 2025.
Account minimum | $500,000. |
Account management, planning or subscription fee | The fee drops the more assets you have under management:
|
Advisor access and credentials | All financial advisors are women, fiduciaries and Investment Advisor Representatives; the majority are either CFPs or CFAs. Reviews are scheduled at least annually or more depending on the client’s circumstances and needs. Advisors are available in person, by video, chat, text, phone, or via email during flexible hours. |
Financial planning services | Retirement planning, financial windfall planning, estate and family planning, cash flow analysis, budget analysis, and tax strategies. Tax and estate planning are coordinated with the client’s CPAs and estate planning attorneys. |
Investment expense ratios | On average: Equities: 0.15%. Fixed income: 0.15%. Alternative investments: 1.5% to 2%. |
Portfolio construction | Portfolios are custom and unique to a specific client's needs and goals. Ellevest can manage stocks, bonds, mutual funds and ETFs for all clients and alternative investments for clients who are eligible (such as accredited investors). At certain account balances, impact strategies can be further customized. |
Brokerage options | Clients’ assets are only managed and held at Ellevest's custodian Charles Schwab & Co Inc. |
Accounts supported |
|
Tax strategy | Tax-loss harvesting on taxable accounts. Intentional Impact Portfolios offering enables stock-level tax-loss harvesting. |
What to know about Ellevest's account minimum and fees
You'll need at least $500,000 in investable assets to start using Ellevest Wealth Management, and then you'll pay a management fee based on your assets under management, which breaks down as follows:
Under $1 million: 1.25%.
$1-2 million: 1%.
Clients with more than $2 million: 0.25% to 0.95%.
Ellevest's advisor access
All Wealth Management clients receive comprehensive financial planning that includes implementing investment strategies that align with the client's values, retirement planning, handling financial windfalls, cash flow analysis, budget planning and tax strategizing. This also includes a review of their financial situation and any changes to goals and values, which is conducted at least annually.
As an additional benefit, Ellevest offers a 1:1 financial planning service with a dedicated CFP, which includes three one-hour calls with your advisor and unlimited email support. For Wealth Management clients, this is an additional $2,400. This service is also available to non-clients of Ellevest, but costs $4,800, and it does not include investment management.
Ellevest's financial planning services
Ellevest's wealth management service offers personalized planning, access to a dedicated team that will coordinate with accountants and estate attorneys, and impact investing. Ellevest also provides access to investment opportunities that help address gender inequality, racial injustice and climate change, and impact-focused alternative investments (though these may require accreditation).
Good to know about Ellevest
Portfolio construction
Ellevest Wealth Management's portfolios are custom-made for each client, comprising stocks, bonds, mutual funds, ETFs and alternative investments. And for clients whose account balances meet certain thresholds, Ellevest's impact-focused portfolios can be even further personalized.
Customer support
Clients can set up meetings with their dedicated advisor in-person, by video, over the phone or through email. Ellevest emphasizes their team is distributed throughout all time zones of the U.S. for added convenience.
Brokerage options
Ellevest requires clients to move their assets to Charles Schwab, Ellevest's custodian. While it's not uncommon for wealth managers to hold funds in their own custodian, it does present an initial hurdle for non-Schwab users.
Is Ellevest right for you?
Ellevest may be a good fit for high- and ultra-high-net worth individuals who are looking for an all-women team of advisors. Ellevest specializes in investing in causes like climate change solutions, affordable housing and healthcare technology for women, which Ellevest says can drive both returns and impact. It's a unique offering, and if you're looking for a place where you can match your investments with your values (and you can meet the high account minimum), Ellevest may be right for you.