The total cost of your Ellevest account has three components.
- The Ellevest Fee is 50 basis points (0.50%) per year of your assets under management. This fee is pro-rated and charged monthly (in arrears) based upon the market value of the average daily account balance of your accounts with ETFs. This fee covers brokerage, custodial, investment advisory and other related services defined in our customer agreement.
- The FINRA fee appears as a Self Regulated Organization (aka SRO) fee on your account. When securities are sold, our custodian Folio Investments charges this fee and passes it along to fund its government sanctioned regulator, FINRA. The SRO fee is now approximately $0.000022 for each dollar of securities sold ($0.22 on a $10,000 sale). Assets held in the Emergency Fund goal (and any funds invested in cash) are not subject to this fee.
- The ETF management fees vary from 0.08% to 0.21% of your account balance, depending upon the specific portfolio we recommend for you. Because the prices of the ETFs already include these fees, there is not a separate charge for these costs.
The Ellevest Fee does not cover additional fees charged by Folio or other entities, such as wire transfer fees and taxes, paper statement fees, bounced checks fees, margin extension fees, safekeeping fees, termination fees and early redemption penalties. The Folio Investments pricing page can be found here. Note that Ellevest clients do not pay the IRA custodial fee, or the fee for mail delivery of statements -- our statements are paperless.