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A Message from Sallie Krawcheck

By Sallie Krawcheck

This quarter marks Ellevest’s 10-year anniversary. As we celebrate all we have accomplished together and as we look forward to new milestones and setting new industry standards, I also find myself facing an unexpected challenge.

I must share with you that I am stepping aside as Ellevest’s CEO and transitioning to a board role, to focus on my health following a recent diagnosis. As they say, you can have 1,000 problems in your life until you have a health problem. And then you only have one problem. So I need to do this for myself and my family.

Dr. Sylvia Kwan, my partner since the first days, will remain Ellevest’s Chief Investment Officer (CIO) and take on the co-CEO role, so Ellevest clients will continue to be in the most qualified hands. She is easily the best CIO that I’ve worked with in my (long) career, and I have learned a lot from her. Connie Hsiung, our current COO & CFO, will also take on the role of co-CEO. Her top priority will be to work with the Ellevest board on the company’s strategy, and I can’t imagine anyone more capable or ready.

While I pass the torch to the next generation of Ellevest leadership and as Sylvia and Connie take the reins on driving the company forward, I’ll be able to continue to provide guidance as a member of our Board. My focus will be on my health, so I will not be involved in the day-to-day, but my heart will always be with our mission.

I love Ellevest and our talented and passionate team and strong community.

I love our mission to get more money in the hands of women, and I love that we have had a positive impact on so many of you — and your sisters, your friends, your moms, your wives, and your daughters. I am grateful to our investors, especially those who have been on so much of this journey with us. I am grateful for our employees, particularly the early ones who took the risk of joining us. And I am particularly grateful for the Ellevest community, all of you, for your support and engagement. I’m constantly reminded by this community that we have changed the industry and we have changed lives. Thank you.

Over the past decade, we have grown to a community of more than 3 million ‌— one of the largest and most engaged social communities in US financial services. We brought on esteemed investors and rang the NYSE Opening Bell with the Ellevest logo plastered on every screen and sign in the building ‌— during Women's History Month, no less. We were named one of Entrepreneur Magazine’s Top 100 Brilliant Ideas, we have been featured on every list from CNBC's Disruptors to Vanity Fair's “New Establishment," we’re among Fortune's Most Powerful Women, and we have graced the cover of Money Magazine.

This change comes as Ellevest manages $2.4 billion (and growing) in investment assets; with it having been named in the top ten fastest growing Registered Investment Advisors by Investment News; with a ranking of 4.9 (out of 5) stars from NerdWallet; and having built the industry’s only investing and wealth management company built by and for women.

Earlier this year, we coined the phrase “the Feminization of Wealth” and today, at the brink of the Great Wealth Transfer and Ellevest’s second decade, our work remains as important as the day Sylvia and I decided to work together.

Remember: “Nothing bad happens when women have more money.” Onward.


Sallie Krawcheck Signature


Disclosures

© 2024 Ellevest, Inc. All Rights Reserved.

The information provided is current as of the date of this writing and for informational purposes only. It should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal or tax advice. Nothing contained herein may be relied upon as a guarantee, promise, assurance or a representation as to the future.

InvestmentNews rating was given by Investment News, an independent news website, on November 30, 2023; based on a review of data from 2020 through 2023. No compensation was provided by Ellevest for this rating.

NerdWallet Rating as of October 2024. Ellevest, Inc. has engaged NerdWallet ("the Promoter") for referral services. The Promoter can receive a cash payment of up to $90 from Ellevest. The Promoter may promote and/or may advertise Ellevest’s investment advisory services and may offer independent analysis and reviews of Ellevest’s services. You won't be charged anything in connection with this referral, and this arrangement won't affect the Ellevest fees you'll pay to Ellevest compared to other Ellevest advisory clients. The Promoter and Ellevest are not affiliated with one another and have no formal relationship outside this arrangement, the Promoter is not a client of Ellevest. Please read the important information about Ellevest and our digital advisory services contained in its Form ADV Part 2 and Part 3 CRS available at www.ellevest.com.

Investing entails risk, including the possible loss of principal, and past performance is not predictive of future results.

Ellevest, Inc. is an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Ellevest fees and additional information can be found at www.ellevest.com.

Sallie Krawcheck

Sallie Krawcheck is the founder of Ellevest. In a sea of financial services sameness, Ellevest manages more than $2 billion in assets, and stands apart with its mission to get more money in the hands of women. Prior to Ellevest, Krawcheck was one of the only financial executives of her generation to have held C-suite roles at the largest global banks — as CEO of Merrill Lynch, Smith Barney, US Trust, and Sanford Bernstein and as CFO of Citi. Today, as a venture-funded entrepreneur, she’s beat impossibly long odds to raise $144 million in venture capital funding. Fortune Magazine has called Krawcheck “The Last Honest Analyst,” Barron’s considers her one of the “Most Influential Women in US Finance,” and Vanity Fair has named her to their “New Establishment List.”