Sallie Krawcheck: Women Weather Economic Downturns Better Than 'Brothers and Husbands'

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Curious about how women have been able to weather economic downturns?

Sallie Krawcheck, CEO of Ellevest says that research shows that women are able to weather economic downturns better than their "brothers and husbands." 

Watch the video above for more.

And watch the full interview with Krawcheck here: How to Handle Market Volatility, Manage Personal Finances During the Coronavirus Pandemic

Video Transcript:

KATHERINE ROSS:
Sallie, when we spoke a year ago you noted how hard it is to get women to enter the market. So let's put that in times of crises. Do you see more woman, for example, signing up for Ellevest than before?

SALLIE KRAWCHEK:
Yeah. Well, look, what I'm really happy to tell you is our business of course has been impacted by the decline in the market, but our community is standing strong. We've actually had every week during this, every week of the company, net inflows. And what was sad to see is it, of course, for a couple of these weeks there had been record longterm ETF and mutual fund outflows for the industry and we've had inflows, longterm inflows. And a lot of that is because so many of the members of our community have recurring deposits. And as we said before, if you can afford to, just keep on making those deposits. If you can afford to, do not withdrawal right now. And so we're seeing our community stand really strong. We're seeing new clients come in. Not to the extent that we did a couple of months ago, of course. But if you had given me this environment, I would not necessarily have projected this kind of strength.

SALLIE KRAWCHEK:
And, by the way, the research has always told us that women have weathered these kinds of downturns as investors better than their brothers and husbands. And I think some of it is because we're busy, right? Now we've got a homeschool the kids and we've got the Zoom call and we've got the job, and I don't know who's making dinner at your place but it's me at my place. And we have so much going on, we really, just if it's not on fire, I'm not checking it right now. And so I do think the research tells us that women tend to check less and it's behooved them positively financially, historically. That's a lot of -lys that I just pulled together there. Positively, historically, financially. That was good.

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