Ellevest Aims to Close Financial Gap for Women
Meghan Young — May 11, 2016 — Tech
References: fastcompany
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.
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.
Trend Themes
1. Gender Investment Gap - Opportunities for customized investment platforms that cater to the unique needs and behaviors of women investors.
2. Diversified Etfs - Increasing availability and use of diversified exchange-traded funds (ETFs) in investment platforms.
3. Financial Planning Apps - Development of interactive financial planning applications that utilize advanced algorithms to provide personalized investment strategies.
Industry Implications
1. Finance - Disruptive innovation opportunities for fintech companies to offer personalized and diversified investment options for women.
2. Technology - Opportunities for tech companies to develop advanced algorithms to create more accurate financial projections and customized investment strategies.
3. Entrepreneurship - Growth potential for startups that create financial planning apps catering to the unique needs and behaviors of women investors.
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