Zoe Financial

Zoe Financial Review

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
  • Find the right financial advisor in very little time.
  • Affordable subscription or one-time payment.
  • Its algorithm produces more exact results to narrow your financial advisor choices.
  • Zoe interviews advisor candidates and ensures they meet a long list of network qualifications.

Cons
  • No reviews were found online, but financial publications view the company favorably.

How Does Zoe Financial Choose Advisors?

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.

Zoe Financial Advisor Vetting Requirements
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.

Zoe Financial Costs

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.

How to Use Zoe Financial to Find an Advisor

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:

  • Household income
  • Total savings
  • Local ZIP code
  • Name
  • Phone number
  • Email address

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 Complaints

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 Q&A

  • Does Zoe Financial follow up with advisors to ensure they remain fiduciaries?

    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.

  • Why do advisors pay Zoe Financial for referrals?

    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.

  • How do I know the financial advisor Zoe matches me with is my best option?

    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.

  • Can Zoe Financial match me with an advisor no matter where I live?

    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.

  • How long will it take for Zoe Financial to find my advisor?

    Zoe Financial presents your financial advisor choices immediately after you enter your information.

Conclusion

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.

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