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Sallie Krawcheck raises fresh $33 million but only after her 'get-your-hand-off-my-leg' venture becomes Schwab RIA with classic fees and minimums and a warrants-for-AUM program

Ellevest has only $283 million of AUM but now Melinda Gates is an investor and big clients will get warrants kicked back to them for bringing in AUM

Author Brooke Southall
March 30, 2019 at 5:49 PM
no description available
Sallie Krawcheck: It can be life-changing money. Retire-like-an-Instagram-influencer money. Get-your-hand-off-my-leg money.

Brian Murphy

Brian Murphy

April 1, 2019 — 6:53 PM
They have failed...not in raising money, but in building a groundswell of interest for their cause. While it would be nice if the differences between men and women's investing needs were enough to build a unicorn business around, that doesn't seem to be the case. The standard robo-advisor has many hurdles in front of it, and the industry still hasn't figured out what those hurdles are. Instead they continue to roll-out next generation products as opposed to rethinking the needs of consumers. Remove the frictions and the market will appear. Frictions include the requirement to move money from point A to point B, the "it's only a partial solution" issue, and the AUM business model. Schwab's onto something with their subscription service - that will be the future. Yet by and large the innovators just haven't figured it all out yet. Hint - separate advice and implementation.
Jeff Spears

Jeff Spears

April 3, 2019 — 1:17 AM
I’ve witnessed first hand how male advisors dismiss female clients. There is a solution that needs to be delivered by female and open minded male advisors. Hopefully the Ellevest team recognizes this. Sallie was loved by female advisors at her previous firms. Hopefully she can revive that magic.

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