Updated: January 27, 2023
Zoe Financial is a financial advisory firm with a unique process for selecting advisors and matching clients to financial planners. Zoe Financial advisors act on each client’s best interests without involving commissions and sales quotas. Enter a few details in its secure online form, and Zoe finds financial advisors experienced with your specific personal finance challenges.
Editorial Breakdown
Services
Tools
Network of Advisors
Screening Process
Overall Rating
Bottom Line
Zoe Financial works to virtually connect customers with vetted financial advisors.
Zoe Financial provides the connection between independent financial advisors and consumers seeking their services. Zoe puts financial advisors through a detailed vetting process and says it rejects 95% of applicants. Potential clients answer six questions, and Zoe’s algorithm finds a match to an advisor with the appropriate skills and focus.
Zoe’s algorithm goes beyond producing a long list of local advisory firms. Clients don’t have to do any research to find the right financial advisor. The company curates vetted, independent advisors based on the consumer’s specific needs. Compared to the competition, Zoe’s matching process factors in more details to save both the consumer and the advisor time.
Zoe Financial won the 2019 Morningstar FinTech Competition, beating 21 other innovative startups in the investment and wealth management space. Morningstar is an independent investment research provider. Andres Garcia-Amaya founded the company after working for years in various Executive Director roles at J.P. Morgan Asset Management. That company oversees over $300 billion in investments.
Pros
Cons
Zoe Financial advisors must be fiduciaries who work on a fee-only basis. Zoe-certified advisors are trained and educated professionals, such as certified financial planners and certified public accountants. The company seeks financial planners who are transparent with the details of services and costs.
The vetting process starts with the advisor submitting answers to a few questions to Zoe Financial. If the advisor meets the prerequisites, they discuss their experience and skill levels with the Zoe team. Advisors who join the company’s network are independent. These professionals have no ties to or biases toward any investment or insurance product.
Requirements | Vetting Criteria |
Credentials | At least five years of financial planning or financial advisory experience. Not associated with a broker-dealer; must be an independent advisor. Required designations: CFP, CFA or CPA. Clean record. |
Ethics | No conflicts of interest and no sales commissions. Fee-only pricing. Unbiased, transparent fiduciary practices. Provide clients with a plan before discussing financial products. |
Evaluation | Specific subject-matter knowledge. Problem-solving capabilities. Financial and investment processes. Operational efficiency. |
Communication | Overall client experience and communication skills assessment. |
Cost | Services priced competitively. An evidence-based financial approach while keeping costs low. |
If you decide to work with an advisor in the Zoe Financial Network, your advisor pays Zoe’s referral fee. Zoe Financial receives nothing if you choose not to work with the recommended advisor. You pay only for the advisory services you receive per your contract with the financial advisor. Initial consultations are generally free.
Great Advisor Network
Zoe Financial
Using Zoe Financial’s website to find a financial advisor is very straightforward and takes seconds. Click on the Find An Advisor button and enter these details:
Click on Get Started, and Zoe’s algorithm finds your best financial advisor choices immediately. Review each advisor’s profile, chat with them or schedule an appointment directly from the platform.
Zoe Financial receives an A+ rating from the Better Business Bureau. Facebook Reviews give the company 5 out of 5 stars. Employees rate working at the company with 5 out of 5 stars on Glassdoor.
Although Zoe Financial is a young company, it’s already successful based on news coverage from numerous financial industry publications. Zoe consistently signs up quality financial advisors while simplifying the selection process for consumers to find highly personalized financial services.
Zoe Financial does not guarantee advisors will never choose another business model. However, it is unlikely the advisor will stop acting as a fiduciary, given how the financial services industry is evolving. Check with the SEC’s Investment Adviser Public Disclosure website to check up on your financial professional from time to time.
Zoe reduces the time a financial advisor spends searching for potential clients to give them more time to serve clients. Zoe Financial handles client selection for the advisor. There’s no time wasted determining if the advisor can meet the client’s needs. Being accepted into the network is excellent advertising for the advisor, given Zoe’s stringent vetting process.
Only qualified and consumer-focused financial advisors pass Zoe Financial’s vetting process. You are matched with a financial advisor based on your needs. Be sure to ask questions during your first meeting or phone call to ensure their personality and objectives work for you.
Financial advisors in Zoe’s network are located in over 30 cities around the country. All Zoe Financial advisors can serve clients remotely using secure technology. Location is never a final determining factor for the match.
Zoe Financial presents your financial advisor choices immediately after you enter your information.
Zoe Financial drastically reduces the time required to find the right financial advisor for your circumstances and goals. Zoe populates its Advisor Network with professionals who pass a strict vetting process. Advisors must show proof of skills and client satisfaction. Zoe Financial gives you a free shortlist of advisors who successfully work with clients with your financial needs.
Great Advisor Network
Zoe Financial