Zoe Financial Review: Easily Find Licensed Financial Advisors

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Updated: 20th Jul 2021
Written by Kim Pinnelli
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Are you tired of hitting a brick wall when looking for a financial advisor? Do they either charge too much or not provide the services you need?

Check out Zoe Financial – a service that matches you with licensed financial advisors and helps you make the right choice.

Here’s our review on Zoe Financial to help you decide if it’s right for you.

What Is Zoe Financial?

Zoe Financial is the middleman – a matching service helping you get with a vetted financial advisor. They don’t manage your finances or even your portfolio.

They strictly match you with an advisor that will meet your needs. They take the hard work (and time) out of finding the right advisor, using their expertise to give you the help you need.

How Does Zoe Financial Work?

Zoe Financial matches you with financial advisors only after completely vetting them, so let’s look at that aspect first. Here’s what Zoe Financial requires:

  • Advisors must work on a fee-only basis
  • All advisors must be certified professionals, including CFPs or CPAs
  • Advisors must be completely transparent in their fees and services
  • Advisors must be independent (not tied to a specific company’s products or services)

To get matched with a financial advisor, you’ll answer a questionnaire with the following:

  • Household income
  • Total assets
  • Total liabilities
  • Name, address, and phone number

Zoe Financials’ platform will match you with the right advisor using their algorithm. They will match you with several advisors, providing you with information on each and allowing you to connect with each one to decide which advisor is right for you.

What Services Does Zoe Financial Offer?

Zoe Financial strictly matches you with the right financial advisor, but the advisors they work with offer the following services:

  • Investing
  • Retirement planning
  • Tax strategies
  • Divorce planning
  • Debt management
  • Financial goals (buying a house, saving for college, etc.)
  • Estate planning

Zoe Financials’ site provides plenty of helpful information to help you choose the right advisor or learn the right questions to ask.

Their website and blog provide helpful information to guide you along the way.

Zoe Financial Features and Benefits

Simple Online Application

The application to get matched with an advisor is simple and takes only a few minutes. Once you provide your information, the program does the rest, matching you with available advisors who may be a good fit for you.

Tailored Results to Meet Your Financial Needs

Zoe Financial uses the information you provide to match you with an advisor who offers the services you need. Advisors aren’t a one-size-fits-all approach.

Some offer all financial services while others only focus on certain areas. Based on the information you provide, Zoe matches you with the advisor who provides everything you need.

Thorough Vetting Process

Not all advisors pass Zoe Financial’s vetting process. Only about 5% make it through, which means you are matched with the best of the best.

This reduces the risk of dealing with less than optimal advisors for your situation, putting your assets at risk, and wasting your money.

Right from the start, you’re matched with advisors who are top-notch and provide what you need.

Detailed Educational Resources

Zoe Financial is all about educating consumers. They offer a host of resources on their website, including white papers, blogs, infographics, guides, and videos.

All the information is provided free of charge, helping you to learn as much as possible about personal finances and what you need to reach your financial goals.

Your Information is Confidential

Zoe Financial keeps your information secure and confidential. Sharing personal finance information can feel risky, but Zoe Financial doesn’t share your information with anyone.

The information you must share with Zoe keeps as private as possible, only allowing key employees to access the information.

You Are in Control

Zoe Financial provides you with several advisors to choose from – you don’t have to choose any one advisor or even use any of the advisors they provide you with.

You are free to talk with or research each advisor they match you with to determine if they are a good fit for you.

Zoe Financial Advisor Vetting Process

Zoe Financial has a distinct vetting process including:

95% of Advisors Are Rejected

Zoe Financial has a strict vetting process that only 5% of advisors who apply make it through.

Credentials

Zoe Financial separates advisors by their qualifications, for example, CFPs and CPAs. They all provide different services.

Zoe Financial separates them by the services they provide, ensuring they have adequate credentials for the position.

Education

Zoe Financial ensures all advisors have adequate education for the position they claim they hold.

Proven Experience

Zoe Financial ensures each advisor has adequate experience for the position and for the situations you are in, given your personal finances.

Unbiased and Transparent with Clients

Zoe only works with fiduciaries. They won’t allow any conflict of interest, and the fees they charge must be average for the area and services provided.

Quantitative Assessment

Zoe Financial ensures all advisors have adequate knowledge for all situations, especially the situations you have concerning your personal finances.

Qualitative Assessment

Zoe Financial ensures all advisors can adequately communicate to its clients.

Does Zoe Financial Charge Any Fees?

Zoe Financial doesn’t charge any fees to clients. Instead, they receive a referral fee from the advisor if and when you sign up with an advisor.

This keeps Zoe Financial on their toes, ensuring they only match you with the best advisors and don’t refer anyone who isn’t worth it.

What Information Do I Need to Provide Zoe Financial?

To start, you provide Zoe Financial with basic information so they know how to best match you with an advisor.

They’ll ask questions about your age, household income, financial goals, and what sort of investments you would prefer.

This helps them match you with the right type of advisor since not every advisor does the same thing.

Zoe Financial Pros and Cons

Pros:

  • Most advisors don’t have a minimum invested asset requirement. If they do and you don’t meet the requirement, they aren’t an advisor Zoe Financial would suggest.
  • You don’t have to spend time researching and vetting advisors – Zoe Financial does it for you.
  • The network of advisors offers a wide selection of services to meet all needs.
  • You can get specialized help if you have a unique situation or need tax help.
  • Zoe Financial provides plenty of educational information and opportunities.

Cons:

  • The pricing isn’t transparent. You won’t know how much an advisor charges until you talk to them yourself, which takes up time and may leave you without an advisor if you can’t afford the fees.
  • You have to provide sensitive financial information to be matched with an advisor.

What Are Previous Customers Saying About Zoe Financial?

Zoe Financial has high ratings on the Better Business Bureau (A+) and various consumer websites, including Facebook.

Even though it’s a fairly new company, most people agree that its services are robust and valuable, especially in today’s busy times.

Zoe Financial Customer Support Options and Availability

Zoe Financial offers customer support via the phone Monday through Friday, 8 AM – 9 PM EST. They also offer an online chat option or email 24/7.

Who Is Zoe Financial Best For?

If you’re looking for a financial advisor for the first time or have a unique situation and cannot find a financial advisor, Zoe Financial can help.

They are like the matchmakers of financial advisors. Think of it as another service that has your back, helping you choose the right professional to help you with your finances.

It’s not an easy decision to choose a professional to help with your finances, and Zoe Financial has your back.

How Does Zoe Financial Compare to Other Financial Advisor Services?

#1. Facet Wealth vs. Zoe Financial

Facet Wealth is an online (virtual) financial advisor. You sign up with Facet Wealth, and they put together a plan to help you achieve your financial goals.

They can handle your investments directly if you have your funds at Charles Schwab, TD Ameritrade, or Fidelity. Facet Wealth charges a flat fee rather than a percentage of your assets under management.

Full Facet Wealth Review

#2. Harness Wealth vs. Zoe Financial

Harness Wealth works like Zoe Financial – they are a ‘matchmaker’ for financial advisors. You provide your information, and Harness matches you with an advisor that will help you with your goals and needs.

Most advisors within Harness charge 1% of the assets under management, and they have higher minimum balance requirements of $250,000. They also have some advisors that work on a flat fee basis.

Full Harness Wealth Review

#3. Zoe Financial vs. Betterment Premium

Betterment Premium is a step up from basic Betterment, which is great for beginners.

The premium plan offers access to personal advisors over the phone at any time but costs investors 0.4% of assets under management and requires at least a $100,000 minimum.

Betterment is a robo-advisor which means they manage your accounts automatically and have limited portfolios for you to choose from to invest.

Full Betterment Review

#4. Personal Capital Wealth Management vs. Zoe Financial

Personal Capital is another robo-advisor, but it’s a cross between automatic investing and letting you do it yourself.

Personal Capital charges 0.89% of assets under management, and they require a minimum balance of $100,000.

As far as personal advisors, you have access to a team of advisors versus a dedicated advisor.

Full Personal Capital Review

Frequently Asked Questions

Is Zoe Financial Free to Use?

Zoe Financial is free for you to use – the advisors who advertise on the platform pay for it, though. This works to your advantage in two ways.

Of course, it being free is great, but you also know you’re dealing with ‘real’ advisors who are willing to pay for the service to match them.

Is It Safe to Use Zoe Financial?

Zoe Financial takes security seriously. They don’t sell your information to anyone, and they only let select employees view your information when matching you with an advisor.

Does Zoe Financial Sell My Personal Information?

No, Zoe Financial does not sell your personal information. All information you provide them with is private and confidential.

Bottom Line: Zoe Financial Review

If you’re in the market for an advisor, let Zoe Financial help you find the perfect option. You’ll get access to plenty of resources and have help choosing the advisor that suits your needs.

You can interview and research any advisors you’re matched with, so you always know you’re dealing with the advisor who you trust the most.

Kim Pinnelli
Kim Pinnelli
Kim is a personal finance expert with a Bachelor’s degree in Finance from the University of Illinois at Chicago. She has been freelance writing for 13 years for a number of large publications. Kim thoroughly enjoys helping people take charge of their personal finances.