NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, October 16, 2019

By Cynthia Littleton

Ellevest, the female-focused investment platform headed by Sallie Krawcheck, has launched an impact investment fund that will court high-net-worth women in entertainment and other sectors who want to tailor their stock portfolios to favor companies with good track records on a range of social concerns.

Krawcheck, who was one of the highest-ranking women on Wall Street earlier this decade, said the idea to launch a customizable impact investment platform came after listening to the concerns of women, particularly those in the entertainment industry. She found a strong interest in a service that allows each user to select companies for their portfolios based on their interests, values, backgrounds and philanthropic endeavors. The Ellevest Intentional Impact Portfolios platform bows today.

“As we engaged with women, particularly women on the West Coast in entertainment, they told us they are tired of doing business with companies that haven’t supported them,” Krawcheck told Variety. “They’re tired of investing in companies that don’t have practices that support women.”

Photo courtesy of sallyjermain.