{"id":31648,"date":"2021-04-01T16:54:38","date_gmt":"2021-04-01T20:54:38","guid":{"rendered":"https:\/\/test.greenmoney.com\/2025\/?p=31648"},"modified":"2021-04-30T19:37:43","modified_gmt":"2021-04-30T23:37:43","slug":"forbes-sallie-krawcheck-leads-ellevest-to-1-billion-aum","status":"publish","type":"post","link":"https:\/\/test.greenmoney.com\/2025\/forbes-sallie-krawcheck-leads-ellevest-to-1-billion-aum\/","title":{"rendered":"Forbes: Sallie Krawcheck Leads Ellevest to $1 Billion AUM"},"content":{"rendered":"
>> Back to April 2021 Issue<\/a><\/div>\n

\"ForbesSallie Krawcheck has not forgotten what the skeptics said about Ellevest, her women\u2019s-focused investment platform, before the service even launched. \u201cIt was like, \u2018This is gonna fail; other people have tried and failed,\u2019\u201d<\/em> she recalls. \u201cAnd also, \u2018What is for women anyway? That\u2019s sort of dumb!\u2019\u201d<\/em><\/p>\n

Five and a half years later, Krawcheck can finally mock these slights. She lets out a whoop and raises her hands above her head as she tells Forbes, exclusively and in a video chat, about the milestone Ellevest just hit: $1 billion in assets under management.<\/p>\n

\u201cIt actually has been compounding, as you sort of expect assets under management to do, where the first $10 million took forever, the second $10 million takes less, and so on,\u201d<\/em> Krawcheck, who is also Ellevest\u2019s CEO, says. She acknowledges that the service more than doubled its assets under management (AUM) in 2020 but says this was not entirely the result of a rebounding market boosting the value of users\u2019 portfolios\u2014instead, it came from clients consistently shuffling money into their Ellevest accounts.<\/p>\n

\u201cWhat I\u2019m particularly proud of is that it happened during a pandemic. And very importantly, that at a time when you would think women would be more pulled back, we actually had net positive inflows every single week of the year,\u201d<\/em> she says. Money wasn\u2019t necessarily flooding in\u2014and in fact, Ellevest\u2019s own data shows that as the so-called she-cession has taken hold, average monthly deposits have decreased from $740 to $474\u2014but it was still coming in, not going out. This is especially notable, given how the rest of Wall Street was performing last year: According to Morningstar, U.S. equity funds posted $241 billion in outflows in 2020, which is more than the four next-worst years combined (2015, 2011, 2009 and 2020).<\/p>\n