Brooke Southall

Thank you Brooke for stating exactly what I was thinking when I saw the press release on MorningStars commitment two days ago. Sallie Krawcheck is beginning to walk like a man, talk like a man, act like a man …. and with all these publicly run companies run by men how can she possibly be trusted to communicate to women? Shouldn’t a woman advocating women be working with women, partnering with women rather than just trying to capitalize on women? And you are right: Look at all the men on her team. And it really looks like some of these previously tried and failed attempts at getting women to fork over their savings is likely because they continue to fail to have the most basic understanding of what women want and are interested in. Is this sociological? I am really not sure. But what I do know is that there isn’t anything on any of these sites that draws women to all the sites they like to visit regularly. Perhaps that is a clue? Tina’s SheCapital site offers very little information to the investor or potential investor….I like the name though. It’s a skeleton with nothing to assuage the familiar fears about investing. Someone should go back and read the book or see the movie “What Women Want” Folks, the internet is for giving people access to what they want. A basic algorithm can tell you what women are interested in and how long they spend on a site…. I suggest Sally take her own advice and “Go All In” when it comes to understanding helping and calming women.

MMMMM — a supporter —- Andrea Jung, former CEO of Avon Products Inc. Guess Sally didn’t do a Google search.

Relying on men but 'losing sleep' Sallie Krawcheck seeks to robo-reap women investors with Ellevest

Co-founder Charlie Kroll started a successful online venture in his Brown University dorm room and appears be the day-to-day operator of this robo.

Morningstar

Ellevate

Beacon Wealth Management

Sallie Krawcheck

Joe Mansueto

Tina Powell

Charlie Kroll

Stripped down to its essentials, financial advice is a fairly straightforward proposition. Done well, a highly ethical individual stewards the assets and actions of an investor in a personal and professional interchange.
 
But now a vibrant new class of entrepreneurs is staking their fates and their fortunes on the premise that financial advice can be delivered in a better, cheaper, easier, more ethical, more transparent manner and, as a bonus, in a way more devoid of human annoyance on both ends of the transaction.
 
Cue the robo-advisors, arguably a callous misnomer for automated asset management. 
 
The prototypical robo-advisory entrepreneur has more brands on his or her resume than NASCAR. The bona fides of these industry upstarts often include Ivy-level colleges and MBA programs at Harvard or Stanford. They are often flush with IPO dollars realized at concerns like LinkedIn, Facebook, eBay, Amazon  and Microsoft. 
 
Robo-folk believe that technology is not an enabler of advice but rather, if engineered correctly, advice itself in digital form. 
 
And, they believe the best solutions originate in Silicon Valley or academia, not Wall Street. Robo-entrepreneurs are white-boarding the whole business model, culture and technology from scratch in the conviction that little can be learned from a legacy advice system still rooted in an investment banking culture acting under the core premise that if stockbrokers get rich some of the good effects will trickle down to clients – with the clients none the wiser. 
 
Robo-advisors are a scintillating topic for students of the advice game as they grow by hundreds of millions in assets every month, constantly evolve their business models and receive cash infusions from ever-larger swaths of venture capitals.
 
Throw in the fact that robo-advisors have yet to see a dime in profits -- and won’t in the foreseeable future -- and you have real intrigue. 
 
RIABiz has avidly covered the fast-evolving robo-advice phenomenon and will continue to do so. We present the growing body of articles here.

Robo-Advisors

The RIA business is many good things but integrated from a gender standpoint is not one of them. This is not so great. Women are the majority of humanity and they have an asset-building strategy that can't be beat. Women outlive their beer-and-steak mates and end up with big estates. But today's women have too another strategy -- pursuing wealth in the workplace. Yet when they go to find fellow women to talk all this through with, they don't readily find them. 

Companies big and small have for decades fallen over themselves to say that they have women's initiatives but I can't think of one that has amounted to much. But there are stories-- dozens or hundreds -- of them about women exerting their influence on this business and we are starting to collect them. It's a starting place -- documenting the ground being covered by women in the form of engaging tales graphically depicted by the physiognomy of the fairer sex.

Women of Wealth Management

Industry luminaries Joe Mansueto, Mohamed El-Erian, Ajay Banga and Robert Druskin -- never mind co-founder Charlie Kroll -- make up a stellar roster of male executives backing this play for women's wealth

Relying on men but 'losing sleep' Sallie Krawcheck seeks to robo-reap women investors with Ellevest

Zoe

Maria Marsala

Related Moves

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June 11, 2019 at 9:49 PM

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