Reviewed in: Oct. 2022
Period considered: Aug. - Oct. 2022
The bottom line:
Pros & Cons
Makes it easy to find a financial advisor.
Network of financial advisors offer a wide range of planning services.
No fee for using Zoe Financial to find an advisor.
Difficult to know financial advisor fees upfront.
Compare to Similar Brokers
Varies by Advisor (free initial consultation)
$2,400 and up
per year (free initial consultation)
Up to 1%
3-Month Satisfaction Guarantee
Get $250 reward
into Facet brokerage account for new members who transfers at least $5,000 within the first 90 days of their Facet membership.*
no promotion available at this time
one year of financial or tax planning
on Facet's website
on Vanguard's website
on Harness Wealth's website
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Where Zoe Financial shines
Makes finding an advisor easy: For those feeling overwhelmed by the thought of finding, interviewing and vetting a financial advisor, Zoe Financial steps in as a middleman. Zoe Financial matches individuals with vetted financial advisory firms — firms Zoe says are in the top 5% of their field.
Wide range of services: Zoe connects clients with advisors who can help with a range of services such as retirement planning and investing, tax strategy, buying a home and understanding stock options.
It’s free to find an advisor: There is no fee for using Zoe to find an advisor.
Where Zoe Financial falls short
No standard listed fee: Because each advisor has their own particular fee, it can be hard to know exactly what you’ll pay until you contact the advisors.
Zoe Financial is best for
Those looking for holistic financial planning.
Individuals who need help with their taxes.
Those unsure how to find or vet a financial advisor.
Zoe Financial at a glance
Reviewed: Oct. 2022
Period considered: Aug. - Oct. 2022
$150,000 in investable assets to receive an advisor match. Some advisors in Zoe's network may have higher minimums.
Account management, planning or subscription fee
None from Zoe. Typical fees from advisors are based on assets under management and complexity of service. Typical fee range for assets under management structure: 0.5% - 1.5%.
Setup or onboarding fee
Advisor access and credentials
Zoe's advisor network includes both advisor teams and dedicated advisors depending on the client's needs. Clients have unlimited access to their advisor team via video, phone, text and email. Depending on location, advisors can also meet in person. Specific hours vary by advisor. Advisors hold at least CFP, CFA or CPA.
Financial planning services
Zoe Financial can connect users with advisors who cover the full spectrum of financial planning, including investing, retirement, tax strategy, managing debt, estate planning and managing stock options.
Investment expense ratios
0.05% to 0.50%.
Highly tailored to meet the needs of each client.
All major custodians including Schwab/TD Ameritrade, Fidelity, APEX Clearing, and Pershing a BNY Mellon Company. There is no limit to the number of brokerage accounts clients can have.
IRAs, Roth IRAs, taxable accounts, 529s, trusts, cryptocurrency or any investment account that can be held at major custodians. Select advisors can directly manage 401(k)s.
All advisors offer comprehensive tax planning. Some advisors also prepare taxes for clients. Tax loss harvesting, business tax planning, direct indexing, and other specialized strategies are offered by some advisors in the Zoe Network.
Customer support options (includes how easy it is to find key details on the website)
Customer support is available by phone Monday through Sunday, including holidays, 8 a.m. to 11 p.m. Eastern, as well as 24/7 via text and email.
More details about Zoe Financial's ratings
Account minimum: 3 out of 5 stars
In order to receive an advisor match, you must have $250,000 in income or a minimum of $100,000 in investable assets. A $100,000 minimum is comparable to other wealth advisors in the space, but advisors don't typically offer an income qualifier as an alternative for those without enough investable assets. This is an added layer of flexibility at Zoe, and it may help clients access a financial advisor as they're building wealth.
Some advisors in Zoe’s network do not have minimums, while others do (ranging from $250,000 to $500,000). Zoe will match you with the advisor that best fits your current financial situation.
Account management, planning or subscription fee: 3 out of 5 stars
Zoe Financial acts as a high-end yellow pages for the best financial advisors — meaning it can’t come right out and tell you exactly how much working with an advisor in Zoe's network is going to cost you. After you match with an advisor, you can see the fee structure (such as whether the advisor charges based on a percentage of your assets under management or a flat fee), but the advisor’s profile may not list exactly what that percentage or fee is. All advisors on Zoe's marketplace will share their fee structure if you schedule an introductory call.
Because you have to go through the quiz flow and enter your personal information in order to be matched with an advisor, it can be harder to compare Zoe Financial’s advisor pricing with a service that lists a standard fee on its site.
The fees charged by Zoe network advisors who use an assets under management structure range from 0.5% to 1.5%. A typical fee charged by advisors is 1%. The fee you’ll pay will depend on the advisor you are paired with and the complexity of the services you need. To compare, Betterment Premium charges a 0.40% fee and provides unlimited phone access to CFPs and similar financial services. The minimum annual flat fee service is $1,200.
Setup or onboarding fee: 5 out of 5 stars
Aside from its account management fee, Zoe Financial charges no other setup fees.
Advisor access and credentials: 5 out of 5 stars
Finding the right advisor can take a lot of time and effort. Should they be a certified financial planner? What fee structure is better? How much should you be paying? These are the questions Zoe Financial looks to answer for you. Since all of their advisors are vetted you don’t have to spend time verifying their qualifications. Zoe will also be sure to match you with an advisor who works in the area you need, like tax prep.
After taking a quiz and getting matched with potential advisors, you can then view their profiles which include their education, credentials and areas of expertise. You can also see if your matches work virtually or not. If the advisor seems like a match, you can schedule a free consultation.
» Want to compare options? See our full roundup of the best fiduciary financial advisors
According to Zoe Financial’s website, their five-tier vetting process results in only the top 5% of advisors becoming available to clients. Advisors must have one of the following credentials: CFP, charted financial analyst or certified public accountant. They must have at least five years of relevant financial planning or advisor experience. Advisors must be with an independent registered investment advisor and must not be affiliated with a broker-dealer (to ensure that there is less conflict of interest). They are also graded on their problem-solving abilities, operational efficiency, client-advisor ratio and communication skills.
Zoe's advisor network includes both advisor teams and dedicated advisors depending the client's needs, and clients have unlimited access to their advisors.
Financial planning services: 5 out of 5 stars
Zoe Financial focuses on holistic financial planning, and advisors in the network can help clients with a large range of services, including retirement planning, investing, tax strategy, divorce planning, managing debt, buying a home, asset management, a sudden financial windfall, estate planning, family planning, college planning and stock options.
Investment expense ratios: 3 out of 5 stars
An expense ratio is an annual fee charged by mutual funds, index funds and exchange-traded funds, as a percentage of your investment in the fund. If you invest in a mutual fund with a 1% expense ratio for example, you’ll pay the fund $10 per year for every $1,000 invested. If high, these fees can significantly drag down your portfolio returns. The expense ratios you’ll have to pay will vary by advisor, but range from 0.05% to 0.50%.
Portfolio construction: 5 out of 5 stars
Zoe’s advisors can tailor your portfolio to meet your individual needs and manage it for you. Advisors in the Zoe network can also help you with alternative investments, such as real estate and cryptocurrency and assist with stock options.
Brokerage options: 4 out of 5 stars
Some financial advisors require that you have your money at a specific brokerage. Zoe Financial advisors allow you to keep your assets at any major custodian, including Schwab/TD Ameritrade, Fidelity, APEX Clearing and Pershing, a BNY Mellon Company. There is no limit to the number of brokerage accounts clients can have.
Accounts supported: 5 out of 5 stars
Zoe's network of advisors offer traditional IRAs, Roth IRAs, taxable accounts, 529s, trusts or any account that can be held at a major custodian. Select advisors can directly manage 401(k)s. Zoe advisors can also manage cryptocurrency.
Tax strategy: 5 out of 5 stars
All of Zoe's advisors offer comprehensive tax planning. Some advisors also prepare taxes for clients. Tax-loss harvesting, business tax planning, direct indexing, and other specialized strategies are offered by some advisors in the Zoe network. If clients have a full wealth management strategy, tax planning may be included, depending on their assets, or it may be heavily discounted. If clients are only looking for tax preparation (without wealth management) the price can range from $250 to $4,000 depending on the complexity of the tax situation.
Customer support options: 3.5 out of 5 stars
Zoe customer support is available by phone Monday through Friday and holidays, 8 a.m. to 11 p.m. Eastern, as well as 24/7 via text and email.
Is Zoe Financial right for you?
If you’re looking for an advisor and don’t want to spend your weekends researching which one is right for you, Zoe Financial could help you with that. Similar to Harness Wealth, Zoe Financial doesn’t charge a fee to match you with a financial advisor.
If you’re just looking for investment management, a robo-advisor could also be a good option. Robo-advisors use algorithms to build and manage an investment portfolio for you. Some even offer tax strategy and access to financial advisors for no additional charge.
» See our picks for the best robo-advisors
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