Betterment, the largest independent digital investment advisor in the U.S., has acquired the automated investing business of Ellevest, a wealth management company focused on serving women.

What To Know: Betterment, known for its user-friendly platform, offers automated investment services, diversified portfolios, tax-smart tools and financial planning resources. It currently manages over $55 billion in assets for more than 900,000 customers.

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Ellevest provides wealth management and financial planning services, with a mission to help women build wealth. While it is transferring its automated investing accounts to Betterment, Ellevest will continue to serve high-net-worth clients who invest $500,000 or more.

What Else: Ellevest's automated investing clients will transition to Betterment around April 17, 2025, unless they opt out. They will gain access to Betterment's broader range of financial tools, including joint accounts and additional cash management options. However, Betterment is only acquiring Ellevest's automated accounts, not its technology, employees or operations.

Betterment says this acquisition strengthens the company’s leadership in digital investing while allowing Ellevest to focus on personalized financial planning for high-net-worth individuals.

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