5 Questions With Sallie Krawcheck, Founder Of Ellevest

By Shay Castle
Daily Camera, Boulder, Colo.

WWR Article Summary (tl;dr) Great Q&A With Sallie Krawcheck, founder of “Ellevest,” a digital financial planning and investment platform for women.

Daily Camera, Boulder, Colo.

Sallie Krawcheck sees a gender gap in America, one that’s even more costly than the pay gap: The investment gap.

That’s why she started Ellevest, an invite-only, female-focused digital investing platform that recently launched in Denver and Boulder.

We caught up with the former Wall Street executive, fresh off a talk at CU’s Leeds School of Business, to learn more:

Question: What do you think is keeping women from investing?

A: A lot of it is the language: The sports analogies. The war analogies. It’s all presented as how to outperform and pick the winners. What the research shows is that the winning doesn’t motivate us. Beating the markets, picking the winners is clearly not enough to motivate us.

And attempts to attract women to investing are so misguided. It’s the old message, ‘Don’t buy shoes, invest instead,’ or trying to appeal to our emotions.

The women we’re talking to are like, ‘Yeah, I know I have emotions around money and I don’t care. I want to know what to do with my money.’

I would hypothesize that the reason Wall Street and the big banks have not been successful (in reaching women) is that they have been women’s initiatives refracted through the brain of the man.

Question: What does motivates women to invest?

A: I think it’s talking about our goals in life, the idea of ‘This is the life I want to lead, and this is how I’m going to get there.’

Something that also can motivate women to invest is investing their values, having something that is important to them in life then putting their money behind it.

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