Ellevest, a digital investing platform focusing on closing the gender investing gap, chose Denver as its second launch city, launching just last week.
While the gender pay gap is important, there is another gap that could be financially worse for women: the gender investing gap.
The gender investing gap can cost some women more in the long term than the gender pay gap, but no one is talking about it yet. A Denver woman in tech making $72,000 is losing about $60 each day over a 40 day period if she’s not investing it.
~Sallie Krawcheck, co-founder of Ellevest
Sallie Krawcheck, a 30-year Wall Street veteran, noticed the lack of women in the investing industry, describing it as “by men, for men.” There’s a lack of education and empowerment for women when it comes to investing, which keeps women from doing it all together. To solve the issue, Krawcheck created Ellevest: a digital investment platform that reimagines investing for women with a practical, goals-based approach.
Why Denver? The co-founder said that Denver continuously showed a strong presence of community groups supporting women, a high amount of women employees and entrepreneurs, and a vibrant community. On top of that, Denver was named one of the best cities for female entrepreneurs, as well as having one of the smallest gender pay gaps in the country. All of these characteristics of our mile-high city convinced Ellevest that Denver was the natural choice.
The overall goal is to close the gender investing gap and break down the barriers that have kept women from investing. The platform offers client tailored investment portfolios, allows women to invest in multiple goals simultaneously, and monitors their progress—with alerts if they fall off track.
Ellevest gives women the tools to take control of their finances through investing. It takes a unique, focused and personalized approach to investing, which Krawcheck hopes will empower more women to reach their goals.
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Built in Colorado: How a Wall Street Vetern is Tackling the Gender Investing Gap