Ellevest review 2026

By Nicolas StrautPublished October 12, 20267 min read

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Key takeaways

Ellevest stopped offering automated investing as of April 10, 2025, and accounts that didn't opt out moved to Betterment in-kind.¹
When deciding whether Ellevest fits, start with how much you'll invest: wealth management needs $500,000 and charges 1.25% a year up to $1 million, and planning only costs a flat $4,800 a year.
Ellevest suits a woman or family with $500,000 or more who wants a dedicated advisor team and values-aligned portfolios, and Betterment is the closer fit for a former Ellevest app client or anyone investing less.

In this article

What happened to Ellevest's investing app?
Who is Ellevest for?
Ellevest pros and cons
How much does Ellevest cost?
How much does it cost to leave Ellevest?
Is Ellevest worth it?
Ellevest vs alternatives
Frequently asked questions about Ellevest

Ellevest is now an advisor-led wealth manager for clients with $500,000 or more, after Betterment bought its automated investing accounts in 2025.² Its app-based robo no longer exists. This review covers what happened to those accounts, what Ellevest charges in dollars, who its planning-only service fits, and how it compares with Betterment and Empower.

What happened to Ellevest's investing app?

Ellevest's investing app closed, and its automated investing accounts moved to Betterment in April 2025, after Betterment agreed to buy them that February.

What Betterment bought and what Ellevest kept

Betterment bought the automated investing accounts and their assets, and not "any additional accounts, technology, employees, or operations." Ellevest kept financial planning and wealth management for clients investing $500,000 or more.

The announcement made no promise about fees for transferred clients, so they pay Betterment's standard pricing. Betterment vs Wealthfront covers how those fees work.

What changed if your account moved to Betterment

Accounts that moved to Betterment went over in-kind, so holdings weren't sold, except mutual funds. Betterment says it shifts each Ellevest strategy gradually to a closely comparable Betterment portfolio, with no tax impact in IRAs.³ In taxable accounts it tries to limit taxes, but some tax impact is possible.

If you had a taxable Ellevest account, check your 2025 and 2026 Betterment 1099s for gains from the switch. Betterment's support team is at [email protected] or (718) 400-6898.

Accounts that opted out, and money still at Goldman Sachs Custody Solutions, are handled by Goldman Sachs at [email protected] or (844) 413-1820. For old Ellevest statements and tax forms, Betterment's help center points to folioclient.com, then Statements & Tax Records, then Tax Center.

Who is Ellevest for?

Ellevest is for three kinds of client, and all of them need either $500,000 to invest or $4,800 a year for planning.

Women and families with $500,000 or more to invest

Women and families with $500,000 or more are the clients Ellevest builds its wealth management around. Personal Wealth Management starts at $500,000 and includes financial planning at no extra charge.

Investors who want values-based and private investments

Investors who want values-based portfolios get stocks, bonds, and alternatives that Ellevest selects to "align with your values." Private Wealth Management, from $1 million, adds select private investments. Ellevest's Form ADV brochure says these are typically open only to investors who meet minimum net worth requirements.

People going through a big financial change

People going through a big financial change are who Ellevest's planning service is built for. Its planning page names a new job, a career break, divorce, inheritance, family planning, and retirement. Planning only has no investment minimum, just the flat fee.

Ellevest pros and cons

Ellevest's pros and cons both come down to how much you have to invest and how much advice you'll use.

Ellevest pros

Planning included: wealth management clients get financial planning at no extra charge.
A planning-only option: you can hire a CFP for a flat $4,800 a year without moving any assets.
Fiduciary adviser: Ellevest is registered with the SEC and earns its revenue from client fees, not commissions.
Values-based and private investments: portfolios can be built around your values, and Private Wealth Management adds private investments.

Ellevest cons

High minimum: wealth management starts at $500,000, and Private Wealth Management at $1 million.
High fee at the minimum: 1.25% a year is $6,250 on $500,000.
No app-based option: the automated investing service closed in April 2025.
Costs on top: fund expenses, some sub-adviser fees, and Schwab's brokerage charges are added to Ellevest's fee.

How much does Ellevest cost?

Ellevest costs a yearly percentage of the assets it manages for wealth management, from 1.25% at the $500,000 minimum down to 0.35% above $100 million. Financial planning only costs a flat $4,800 a year.

Wealth management for $500,000 or more

Wealth management for $500,000 or more comes at two levels, Personal Wealth Management from $500,000 and Private Wealth Management from $1 million. Personal Wealth Management covers portfolio management plus financial planning.

Private Wealth Management adds select private investments and tax-efficient investing strategies. Ellevest's wealth management page also lists tax-loss harvesting, equity compensation, legacy, and philanthropic planning.

How the fee drops as your balance grows

Ellevest's wealth management fee drops as your balance grows, from 1.25% between $500,000 and $1 million down to 0.35% above $100 million. Ellevest bills it quarterly in arrears, according to its Form ADV brochure dated July 10, 2026.

Assets managed	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%

Balance	Ellevest fee a year
$500,000	$6,250
$750,000	$9,375
$1,000,000	$12,500

The dollar table stops at $1 million because neither Ellevest's site nor its brochure says whether each rate applies to the whole balance or only to the part in its tier. Ask Ellevest how it calculates the fee above $1 million. Fund expenses come on top, and so do sub-adviser fees on some strategies, such as AllianceBernstein's 0.23%.

Financial planning for a flat $4,800 a year

Ellevest's planning-only service costs a flat $4,800 a year, which you can pay quarterly, semi-annually, or annually, and it comes with a dedicated CFP and quarterly calls.⁴ The planners are all women CFP professionals, in Ellevest's words. The service is for people who don't have a managed portfolio with Ellevest.

How much does it cost to leave Ellevest?

Leaving Ellevest costs nothing in Ellevest fees beyond what you owe up to the day you go, based on its Form ADV brochure. The advisory fee is prorated to the termination date and billed in arrears, so there's no prepaid fee to recover.

Planning clients who cancel get a refund of any unearned, prepaid planning fee, though you're charged for the time Ellevest has already spent on your plan. Accounts are held at Charles Schwab, whose brokerage agreement may charge termination fees and other costs, so ask Schwab before you move the account.

Is Ellevest worth it?

Whether Ellevest is worth it depends on which of its two services you'd use. Public reviews written before April 2025 describe an app that no longer exists. Ellevest today is an advisory firm with a $500,000 minimum, so it competes with human advisers, not robo-advisors.

Is Ellevest wealth management worth 1.25%?

Whether Ellevest wealth management is worth 1.25% to you depends on how much of the planning, tax, and private-investment work you'll use, because the fee is $6,250 a year at the $500,000 minimum. That is $3,000 more than Betterment Premium's 0.65% on the same balance, as the table below shows.

Is the $4,800 planning fee worth it?

The $4,800 planning fee is worth it if you'll use a CFP through a transition and want to keep your investments where they are. $4,800 is 0.96% of $500,000, and it equals 1.25% of $384,000, so it costs less than wealth management at any balance Ellevest manages. It doesn't include managing your money.

Ellevest vs alternatives

Ellevest's main alternatives are Betterment Premium, Empower, and Facet, and each prices advice differently. Figures come from each firm's own pages.

	Ellevest	Betterment Premium	Empower	Facet
Best for	$500,000+ with a dedicated team	Former Ellevest app clients and $100,000+ savers who want an advisor	$100,000+ with a human advisor and a free dashboard	Savers who want a flat-fee CFP plan at any balance
Minimum	$500,000	$100,000 per household	$100,000 for advisory	None to join, $500 to invest
Annual fee	1.25% under $1 million	0.65%	0.89% under $1 million	$2,600 to $8,700 flat (list)
Fee on $500,000	$6,250	$3,250	$4,450	$2,600 to $8,700
Planning-only option	$4,800 a year	No	Not listed on its site	Yes, investing is optional

Ellevest vs Betterment

Betterment costs less than Ellevest at $500,000, 0.65% a year for Premium vs 1.25%, and it's where Ellevest's app clients went.⁵ Premium needs $100,000 per household. Ellevest's case is a dedicated team, private investments, and planning included in the fee.

If you don't want an advisor at all, the best robo-advisors guide compares the automated options.

Ellevest vs Empower

Empower starts at $100,000 for advisory, a fifth of Ellevest's minimum, and adds levels at $250,000 and $1 million. It charges 0.89% a year on balances under $1 million, so $4,450 on $500,000, vs $6,250 at Ellevest. The Empower review covers its tiers.

Ellevest vs Facet

Facet charges a flat $2,600 to $8,700 a year at list price with no minimum to join, so it suits someone who wants a CFP plan below Ellevest's $500,000 line. Facet includes investment management in that fee and adds tax filing from its Plus plan, and its pricing page says memberships are annual and non-refundable. Ellevest's planning-only fee is $4,800 and doesn't manage your money.

To get Ellevest's yearly cost, multiply your balance by 1.25%, or compare $4,800 if you only want planning. Then lower your expected return by that percentage in the Tweed Retirement Calculator to see what the fee costs you by retirement.

Frequently asked questions about Ellevest

Is Ellevest legit?

Yes, Ellevest is a legitimate firm, founded in November 2014 and registered with the SEC as an investment adviser. It publishes its Form ADV brochure, which sets out its fees and terms. Registration brings a fiduciary duty, but as the Mezzi review explains, it doesn't guarantee skill or protect you from market losses.

Is Ellevest only for women?

Ellevest is built for women and their families, and its site describes its mission in those terms. Its Form ADV brochure doesn't limit clients by gender, and says its services are generally offered to individuals. The planning team is made up of women CFP professionals, so ask Ellevest on your first call if that matters to you.

What accounts can Ellevest manage?

Ellevest can manage taxable brokerage accounts, individual retirement accounts, and donor-advised funds for its wealth management clients. Portfolios can hold stocks, bonds, and alternatives, and Private Wealth Management adds private investments. Planning-only clients don't need a managed account with Ellevest at all, and there's no investment minimum for planning.

Is a 2% fee high for a financial advisor?

A 2% fee is high for a financial advisor next to the firms in this review. Ellevest's highest rate is 1.25%, and Betterment Premium charges 0.65%. On $500,000, a 2% fee would cost $10,000 a year, vs $6,250 at Ellevest's rate and $3,250 at Betterment Premium's, before fund expenses.

What do Ellevest reviews on Reddit say?

Ellevest reviews on Reddit are best read with the date in mind. Threads written before April 10, 2025 describe the automated investing app, which moved to Betterment. A thread about Ellevest today should be about its $500,000 wealth management service or its $4,800 planning-only fee, and those are the posts to weigh.

What are Ellevest's Trustpilot and BBB ratings?

Ellevest's Trustpilot and BBB ratings are more useful read review by review than as a single score. Check the date on each review before you weigh it. Anything written before April 10, 2025 describes the automated investing app, not the $500,000 wealth management service Ellevest sells today.

Sources

https://www.ellevest.com/
https://www.prnewswire.com/news-releases/betterment-acquires-ellevests-automated-investing-business-302386022.html
https://www.betterment.com/help/will-my-ellevest-portfolio-composition-change-as-a-result-of-the-transfer
https://www.ellevest.com/financial-planning
https://www.betterment.com/pricing

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