Well, hello, you world-changing women+.
At Ellevest, we love to say: Nothing bad happens when women have more money.
Proof? More than 50% of you using Ellevest’s digital investing platform are invested in Ellevest Impact Portfolios. Also known as “ESG,” these are investments that direct dollars to companies with strong environmental, social, and corporate governance criteria.
In other words, they’re multi-taskers in the world of investments — working to improve businesses, and thus the world, while also working to earn returns.
For so long, it was taken as an irrefutable fact that you had to “give up” investment returns in order to invest for impact. We disagreed with that; and in fact, since we launched them, impact portfolios have performed just as well as our non-impact (aka “core”) portfolios. (Important note: You may have heard the phrase “past performance is not guarantee of future results,” and that holds here.)
When we first launched impact portfolios, only 20% of people chose that option. Part of their growth comes because we worked to make the option more prominent; it’s also because it is becoming a broadly more popular way to invest.
And we’re here for it. But that’s not all we’ve got for you.
Another offering at Ellevest that may do double duty of aligning with your values: our banking deposits. When you deposit money into a banking account, it doesn’t all just sit there — the bank uses some of it to lend to other people, other banks, etc, and earn income from the interest they collect. The question is: Who are they lending to? What is that money indirectly supporting?
Over the years, some of you have expressed concern that your bank may be making loans to gun manufacturers or private prisons or frackers, and that your deposits could thus be supporting those companies.
When you use your Ellevest Save and Spend accounts,* your banking deposits are never loaned to:
Oil and gas lending for exploration or production
Exploration, mining, or production of coal
Manufacturers or direct sellers of firearms
Manufacturers or wholesale distributors of tobacco products
Manufacturers or wholesale distributors of palm oil as a commodity
Private prisons or businesses that operate private prison facilities
Here’s another thing we love to say at Ellevest: Money is power.
Exercising that power can look like a lot of different actions — or inactions. And every dollar we spend, save, or invest has an impact, good or bad. Like choosing not to give your hard-earned dollars to companies that don’t align with your values.
And we’re here for that, too.
*When you become a member and activate your Ellevest Save and Spend accounts, all banking products and services are provided by Coastal Community Bank. They’re also FDIC insured and charge zero hidden fees. And, btw, you can earn cash back and automatically round up the extra change on your Ellevest debit card purchases into your Ellevest Save account.
Calculated as percentage of clients who have invested via Ellevest’s digital platform with at least one goal invested in an Ellevest Impact Portfolio. Data as of September 30, 2021.
Calculated by Ellevest, gross of fees and including annual rebalancing. Data through September 30, 2021.
Calculated as percentage of clients who have invested via Ellevest’s digital platform with at least one goal invested in an Ellevest Impact Portfolio.
Together, the Ellevest Save and Spend accounts are FDIC-insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC. Funds held in your Ellevest investment accounts are not FDIC insured, not guaranteed by Coastal, and may lose value. Ellevest does not guarantee investment performance. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.