Zoe Financial Raises $2M From JP Morgan & Blackrock Execs to Build Digital Wealth Management Marketplace

Zoe is looking to transform how Americans approach their personal finances

 Zoe Financial, a startup which just raised $2M from JP Morgan & Blackrock executives, is looking to transform how Americans approach their personal finances, starting with their relationship with a financial advisor. The round was led by Chris Jones, the former co-CIO of Global Active Equities at Blackrock; with participation from the Global CEO of JP Morgan Investment Management; and the Chairman of the JP Morgan ETF Board, Robert Deutsch; among other executives.

Chris Jones was attracted to Zoe because "Finding a high-quality financial advisor is a highly inefficient and ineffective process and is ripe for modernization using digital technology. This is a trillion dollar cottage industry primed for digital disruption and transformation, and Zoe is rapidly emerging as a leader in that market."

Founder Andres Garcia-Amaya, a Morgan Stanley alum and former JP Morgan Executive Director, says that he was shocked by how “the wealth management industry has been conducting business the same way for the last 40 years. It is a purely outbound product-centric business. Financial advisors at the large broker firms are often glorified salespeople chasing potential clients at country clubs.”

Contrary to the robot-advisor movement, Andres believes the high earners still wants the “high touch” and personalization of human guidance, but they want to work with an expert that they picked-out rather the other way around. Yet Andres says, “identifying and connecting with an advisor that meets your expectations, can feel like a nearly impossible task.” Zoe makes it easy, with a curated network of the top independent financial advisors that are accredited Certified Financial Planners (CFPs,) CFAs, or CPAs; accessible though Zoe’s friction-less digital journey where savvy consumers get connected to their ideal advisors via a high powered algorithm.

The firm launched its matching algorithm in February and it has already seen more than $800M of investable assets looking to be matched with the independent advisors in their network.

The startup has already picked up top talent from innovative fin-tech companies like Learnvest on the product side, as well as from fast-growing consumer start-up Aaptiv on the marketing side.

About Zoe Financial

Zoe is a digital marketplace that empowers people to make informed financial decisions by curating vetted, unbiased and independent financial advisors, based on consumers specific needs.

For more information about Zoe, visit their site or follow them on social media.

Contact Information:

Jared Pyle                 
Email: jared@zoefin.com

Source: Zoe Financial


Categories: Personal and Family Finances, Retirement and Estate Planning

Tags: Fin-tech, Financial advisors, Financial planner, Investments, Personal Finance, Retirement, Wealth Management