Zoe's strong traction in the mass affluent wealth management market wins the judges over
NEW YORK, May 15, 2019 /PRNewswire/ -- Zoe Financial, a next-generation digital marketplace that helps consumers find and hire fiduciary independent financial advisors, has won the Morningstar FinTech Competition at the prestigious annual Morningstar conference. Morningstar (MORN) is a leading provider of independent investment research. The competition included 21 innovative start-ups in the investment and wealth management space.
"The Morningstar FinTech competition is an opportunity to showcase talented start-ups that are finding innovative ways to push the industry forward. The lineup was fiercely competitive which made the judges job a tough one. Ultimately, Zoe's strong traction in solving an important problem for a large market, as well as their alignment with Morningstar's mission, won the judges over," said Lawrence Johnson, SVP and Head of FinTech Engagement at Morningstar.
Zoe's sophisticated algorithm allows individual investors to find and hire their ideal independent advisor. Each advisor in the Zoe network has been thoroughly vetted by Zoe's Due Diligence team. In its first year since launching, Zoe has seen thousands of advisors apply to join its elite network while seeing over $100 million of client assets find an advisor through their platform.
"We cannot be more excited to win this prestigious award from an industry leader. It is a testament to the strong execution of our team to solve a big problem. We are big fans of Morningstar's mission so the recognition coming from them makes the win even sweeter!" said Zoe's founder and CEO, Andres Garcia-Amaya.
Aside from the great recognition, the prize for the competition was a one-on-one lunch with Morningstar's CEO Kunal Kapoor. "It was a great experience to get to meet Kunal and hear his vision for the company and the industry. It's uplifting to see such a successful executive have such a strong moral compass. It reinforced our high opinion of Morningstar," said Mr. Garcia. "This recognition gives us more confidence than ever before that our platform will continue to raise the bar for the advisor profession and empower consumers to make better financial decisions, starting with whom they hire as a financial advisor."
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