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.

The largest independent digital investment advisor in the U.S. is buying the automated investing arm of the woman-focused company.

Betterment, which claims to be one of the largest independent digital investment advisors in the United States, acquired Ellevest.

Betterment, the largest independent digital investment advisor in the U.S., has acquired the automated investing business of Ellevest. Ellevest provides wealth management and financial planning services,

Ellevest, the wealth management firm focused on serving women, is exiting the automated investing space and transferring its robo-advisory accounts to Betterment. The move, announced by both companies, marks a shift in Ellevest’s strategy as it concentrates on financial planning and wealth management for high and ultra-high-net-worth clients.

Following the transition, Ellevest will continue to provide financial planning and wealth management services to high-net-worth individuals and institution

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,