The crux of this advice is the oft-used trope: 'Don’t buy your daily latte. The book - call it the parable of the latte - features an 'older male barista patiently and carefully mansplaining to a young woman about money. Sallie Krawcheck zeroed in on this Chase tweet (Click to enlarge) But what really got her going was a new book titled, 'The Latte Factor.' It was written by 'two self-styled experts on women and money–both middle-aged males,' she sneered. Morgan Chase Bank that suggested millennials could have it all if they economized on things like coffee, cab fares and dining out. Krawcheck's column was in response to a tweet by J.P. Instead of her high-minded goal at launch to make investing 'approachable and achievable for all women,' she's morphed her firm into Schwab RIA that caters to high-net-worth female investors. See: Sallie Krawcheck raises fresh $33 million but only after her 'get-your-hand-off-my-leg' venture becomes Schwab RIA with classic fees and minimums and a warrants-for-AUM program.Īs a result, the 82-employee NYC firm, backed by $77-million in private capital, has pulled in just $283 million in client assets, or about the AUM of a typical five-person RIA. The only problem is Krawcheck, CEO and cofounder of Ellevest, a digital financial adviser for women launched in 2016, has not only failed to validate the concept behind her firm, she moved away from it in a major pivot last March.

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