One major objective of stakeholders in the investment space has been to increase inclusivity. This is because studies show higher gains can be achieved if traditionally marginalized groups can also be included and empowered to actively participate in matters of investment.

It is this mission that has informed the creation of investment platforms like Ellevest. Primarily designed to cater to women's investment requirements, Ellevest is a Robo-advisor platform that provides financial literacy and coaching, online investing, saving, and private wealth management services.

The type of services you access on Ellevest is dependent on the tier you choose. For instance, features such as private wealth management, executive coaching, and impact investing are only available to people with a minimum of $1 million.

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Ellevest's standout feature

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However, the most striking feature of Ellevest as an investment Robo-advisor is that it is tailored to address the unique investment schedule of the female gender.

Taking into account factors such as maternity duties, income, and life expectancy, Ellevest uses an incredible algorithm that suggests the best spending and saving plan, investment plans, and retirement plans for women in particular.

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Always opt for a customizable solution

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In an effort to increase speed and efficiency while reducing costs, more effort is being directed towards automation of tasks. When it comes to the world of investment, Robo-advisors like Ellevest are the best illustration of this ambition to automate processes.

And while there are several advantages of automation, do Robo-advisors like Ellevest satisfactorily cater to the needs of investors? Unfortunately, not everyone prefers this style of investing as they and more independence and learning through self directed investing.

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A platform like Alinea provides investors with the option of using a self-directed investing. The advantage of this method is that it gives you practical, hands-on experience and growth exposure to investing.

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Ellevest's algorithmically determined solutions

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By using the Alinea app, you can sharpen your investment skills and build the discipline you need to reach your financial goals with minimal, external influence or interference. Most importantly, self-directed investment platforms like Alinea offer you personalized solutions.

In contrast, a Robo-advisor like Ellevest relies on algorithms to interpret data and offer solutions. Once you key in the relevant data including your income, gender, and life schedule, Ellevest suggests you a solution deemed suitable algorithmically.

Therefore, you may think that Ellevest's results are fully customized but there are also factors which are not quantifiable or cannot be fed into its program.

Hence, when providing you with a solution, Ellevest may not take into account other useful considerations. Eventually, you may end up making several financial decision-making mistakes that may undermine your financial goals.

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Make the right choice for you!

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Ellevest charges commission on investments and fees unlike Alinea which is a commission-free investing platform that charges users zero fees, however, they offer more wealth management offerings through they robo-advisor platform.

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If DIY (playlists) and learning about investing with friends is your style then check out Alinea. You will also not be able to share your playlists and easily exchange information and ideas on Ellevest like on Alinea.

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Therefore, robo-advisors may have certain benefits associated with their ability to automate investment. However, using a self-directed investment platform like Alinea Invest will prove alsobeneficial both in the short-term and in the long-term.

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(i) Disclaimer

The Content is for informational purposes only, you should not consider any such information or other material as investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Alinea Invest or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction. When investing your capital is at risk.