A new milestone has been attained by Ellevest, the investing and wealth management firm founded by and for women managing $2bn in customer assets under management (AUM).

Ellevest founder and CEO Sallie Krawcheck said: “It’s never been a better time to be a woman investor. We’re entering into a newfound phase of economic power that we’re calling ‘the Feminisation of Wealth. Because we know that money is never just money: It’s the power to live the lives we want. That’s why this milestone is so much more than a number. It’s about our clients investing toward their goals at all ages and stages of their lives — from their first dollar through to multiple millions.”

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Ellevest was established as a counterbalance to a male-dominated sector, with the goal of giving women greater access to financial resources.

Krawcheck established Ellevest with the mission of empowering women to accumulate and manage money via goal-based investing, financial planning, and wealth management.

With the addition of notable investors including Melinda French Gates’ Pivotal Ventures, Rethink Impact, Morningstar, PSP Capital, Ingeborg Investments, and numerous more, Ellevest has grown to have a community of over 3 million members since it was founded in 2014.

Furthermore, in honour of International Women’s Day on March 8, PBI spoke with prominent figures in the banking world about the reforms that are being implemented for women in the financial services sector.

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IWD 2024 acts as a focal point for the female empowerment movement, indicating that more work must be done to support and help women.