Ellevest founder and CEO Sallie Krawcheck on financial products geared to men
Ellevest founder and CEO Sallie Krawcheck talks with Verizon Media & Yahoo Finance about closing gender wealth and income gaps.
Video Transcript
SALLIE KRAWCHECK: So many other platforms-- maybe all the other platforms-- sort of think about a person as average. The investing algorithms out there-- oh, you'll die on average, you'll earn on average. Totally great if you're a man because you earn more, and I'm sad to say, you die sooner. Really terrible if you're a woman because you earn less, you take more career breaks. Your salary peaks sooner, and you die later. So you have a chance of running out of money.
And so, as we stepped back, we said, gosh, probably not too big a surprise that an industry in which 86% of financial advisors are men, 90% of traders are men, 98% of mutual fund managerr are men, 99% of investing dollars or managed companies are run by men, they default to men.
