'Bristling' at 'pink-it-and-shrink-it' pitfalls


In the surest sign yet that Sallie Krawcheck wants to be an RIA, the former wirehouse executive has filed an ADV but not, she reports, before applying mascara and giving herself an 'aha’ slap on the forehead. See: Relying on men but 'losing sleep’ Sallie Krawcheck seeks to robo-reap women investors with Ellevest.

The ex-Merrill, ex-Citi brokerage chief made her new business, Ellevest, official with a Nov. 2 SEC registration sandwiched between two hyper-confessional blog entries (surpassed only by Bill Gross) on LinkedIn.

“Entrepreneurialism is 'not what I do’, she wrote in a Nov. 5 blog. “Starting something from scratch — hiring the first person, buying the first computer, setting up the legal structure, finding office space?...”

And, on Oct. 27: “But have you ever had one of those head-slapping, ah-ha moments? An insight that divides things into 'before’ and 'after’? This particular one hit me as I was applying mascara (of course). The insight was that the retirement savings crisis (which we all think about when we’re putting on mascara, am I right?), that intractable retirement savings crisis, the one that is so ugly and so discouraging that we’ve stopped even talking about it is, in fact, also a gender crisis. It’s a women’s crisis. That’s because women retire with two-thirds the money of men and live some five-plus years longer.” See: Sallie Krawcheck clues in green advisors about choosing that all-important first gig.

Read the entire article at RIABiz.