Betterment, a leading wealth management firm, has acquired the robo-advisory division of Ellevest, a platform focused on women and financial empowerment. CEO Sarah Levy emphasized that this move solidifies Betterment's position in digital investing while welcoming Ellevest's clients. Ellevest, founded in 2014, will continue to operate its wealth management services for affluent clients after the acquisition. Dr. Sylvia Kwan, Ellevest's CEO, noted that Betterment provides essential features appealing to their former digital-first clients, paving the way for a seamless transition and enhanced service options.
This acquisition further cements our leadership in the digital investing space. We look forward to welcoming Ellevest's clients to Betterment and to continuing to support them on their wealth-building journeys. - Sarah Levy
As we focus on our growing wealth management and financial planning business, Betterment was the natural home for our digital-first clients. On top of automated investing, Betterment offers features that many of our digital clients have expressed interest in, including joint accounts and other cash account options. We built a platform that makes it easy to invest in a way that works for our clients' needs, goals, and values - and the same is true of Betterment under the leadership of their CEO, Sarah Levy. - Dr. Sylvia Kwan
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