Zoe Financial raises $3 million

Zoe Financial , the NY-based company helping people find and connect with financial advisors, has raised $3 million in a new round of funding from Third Stream Partners (led by former Chairman of Financial Engines Blake Grossman), Stephanie Demarco (Founder of Advent Technology), and Brian Finn (former President of Credit Suisse First Boston). Existing investors also participated in the round, including Chris Jones (former co-CIO of Blackrock’s Global Active Equities) and current JP Morgan Asset Management CEO George Gatch, bringing the company’s total finding to $5 million.

Founded in 2016 and led by Andres Garcia-Amaya, a Morgan Stanley alum and former JP Morgan Executive Director, Zoe helps people find independent financial advisors that are accredited Certified Financial Planners (CFPs,) CFAs, or CPAs. After asking a series of questions, the company matches people with financial advisors that meet their specific needs and if both parties agree to work together, financial advisors pay Zoe an “on-going referral fee.”

After launching in February 2018, Zoe had a few clients with less than $3M of combined investable assets, and eighteen months later, Zoe attracted “hundreds” of clients with more than $140M of investable assets.

“Technological innovation coupled with shifts in client preferences threaten large banks & brokerages. They are still stuck delivering access to financial products as the value proposition, but what the client wants is highly personalized advice.” – Zoe CEO and founder, Andres Garcia-Amaya.