Zoe Monetary, a find-an-advisor service, is launching the Zoe Wealth Platform, a new service offering instantaneous account opening for purchasers working with a monetary advisor and that includes account funding, automated rebalancing and commission-free fractional share buying and selling, in accordance with the corporate.
“The brand new platform expands the wealth administration choices from hiring the advisor to opening funding accounts and rising their wealth whereas investing with the advisors,” stated Andres Garcia-Amaya, the CEO and founding father of Zoe Monetary.
Garcia-Amaya stated they set themselves aside from different corporations within the area by providing a “seamless, built-in expertise.”
“There are lead-gen choices, and different corporations supply a TAMP,” stated Garcia-Amaya. “Different platforms have bolted-on experiences that result in a disjointed expertise for customers and advisors. We make the client-advisor match a frictionless expertise and make sure the consumer is one click on away from investing with a monetary advisor. It is a sport changer for RIAs as a result of it permits them to avoid wasting time on advertising and marketing, operational and funding processes, finally opening up bandwidth to give attention to deepening consumer relationships and rising their enterprise.”
Zoe Monetary has skilled exponential development over the previous few years.
As of Could 2021, there have been greater than 2,600 particular person unbiased advisors utilizing the lead-gen platform, and purchasers that had been matched with Zoe Community Advisors account for $410 billion in belongings below administration.
At the moment, advisors utilizing Zoe’s lead-gen platform handle $700 billion in AUM representing roughly 500 RIA corporations, stated Garcia-Amaya.
With the brand new wealth administration platform, Zoe Monetary has partnered with Apex Fintech Options to supply custody and clearing options.
“Not like current rivals, Apex Fintech Options provides APIs for various points of constructing a wealth platform, e.g. digital account opening, money and securities transfers, rebalancing and commission-free and fractional buying and selling, amongst others,” stated Garcia-Amaya. “With these choices, we are able to ship the consumer expertise our purchasers deserve.”
Olivia Eisinger, who leads the advisory channel at Apex Fintech Options, stated they had been “thrilled to allow digital challengers of the advisory world like Zoe who’re dedicated to serving to advisors streamline their workflows and create scale of their companies.”
“Combining Apex’s trendy onboarding, servicing and buying and selling capabilities, collectively we now have created a seamless expertise for at present’s advisors and their purchasers,” stated Eisinger. “We’re proud to carry to market a trusted platform backed by a uniquely linked ecosystem as we collaborate with Zoe to form the way forward for advisory.”
William Trout, director of wealth administration at Javelin Technique & Analysis, stated advisor expertise is sort of widespread at this level, however “with its newest transfer, Zoe is speeding forward.”
“Advisor matching is certainly a factor. Massive banks like Financial institution of America Merrill and JPMorgan Chase supply it. Huntington Nationwide Financial institution makes use of InvestCloud’s Discover My Advisor device to energy its Advisor Join platform. Now a cohort of smaller fintechs has emerged to attach purchasers not simply to banks, however to unbiased advisors as effectively. These data-driven challenges embrace distributors like SmartAsset, Wealthramp and, after all, Zoe Monetary,” stated Trout. “The advisor matching course of supplied by rivals tends to be ‘black-box’ and fragmented by way of each the advisor and end-user expertise. With Zoe Wealth Platform, the agency is providing an all-in-one answer that weds set-up and execution. It’s hardly shocking to see Apex Fintech Options, the custodian of selection for robo advisors and different digital recommendation suppliers, serving to lead the cost.”