Betterment is acquiring the automated investing accounts and assets managed by Ellevest, the robo-advisor founded by financial services veteran Sallie Krawcheck to serve women investors. The deal doesn’t include any additional accounts,

US-based robo-advisor Betterment has purchased the automated investing business of compatriot Ellevest, a women-focused company. As part of the acquisition, Betterment will take on Ellevest's automated investing accounts and assets under management.

For clients who prefer to transfer their investments to another brokerage, they must complete an Automated Customer Account Transfer Service (ACATS) form. They’ll also need to provide the DTC number — 728 — of Ellevest’s company custodian, Goldman Sachs Custody Solutions, to the new broker, along with their Ellevest account number.