An analysis of Zoe Financial’s own platform records covering more than 7,000 clients found that fee type was more closely associated with client retention than age or assets. Findings describe Zoe’s client population and may not apply to other firms or advisory relationships.
NEW YORK CITY, NY / ACCESS Newswire / October 5, 2026 / Zoe Financial, an end-to-end wealth platform helping registered investment advisers (RIAs) grow more efficiently and deliver personalized investment solutions to their clients, released new analysis of its own platform data on advisor fee structures. The analysis draws on Zoe Financial’s internal records for more than 7,000 clients who hired an advisor through Zoe’s referral program between April 2021 and July 2026. Clients who engage advisors through Zoe are self-selected and not a random or representative sample of advisory clients generally.
“Most firms treat AUM versus flat fee as a pricing choice, but our data tells a different story. The real question is not which fee model is ‘better.’ It is whether the fee model matches how the client wants to work with their advisor,” said Andres Garcia-Amaya, CFA, Zoe’s Founder and CEO. “The firms that win are the ones that treat pricing as part of the client experience.”
Key findings from the report include:
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Fee choice varied little across asset levels. Clients with under $150,000 in assets and clients with more than $1.25 million chose flat fees at similar rates (17.6% and 15.4%). The report includes the full breakdown by asset band.
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Differences by age appeared closer to retirement. Clients under 55 chose fee types similarly. Zoe has yet to test this pattern, but one possible explanation is planning complexity not yet reflected in account balances.
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Income varied more with fee choice than assets did. Among the income bands reviewed, households earning $250,000 to $400,000 had the highest share of flat-fee clients. These clients often have complex planning needs, like stock compensation, that do not show up in their account balance yet.
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Retention differed most by engagement model. Among clients with at least 12 months of tenure (4,240 clients), first-year attrition was 3.2% where the advisor managed the client’s assets and 28.1% under a planning retainer. The comparable spread was 6.3 percentage points across age bands and 19.9 percentage points across asset bands. These two groups are not otherwise comparable: asset-managed relationships involve custodied accounts and transfer friction that retainer relationships do not, and clients self-select into each model. Zoe did not control for these differences.
The report, titled AUM vs. Flat Fee: A Service-Design Problem, Not a Pricing Debate, is built for financial advisors and RIA firms who want to improve how they price and structure client relationships. It includes a full breakdown of fee choice by asset level, age, and income, along with retention and growth data by client segment.
The full report is available at https://zoefinancial.com/white-papers/aum-vs-flat-fee.
About Zoe Financial
Zoe is a wealth platform with the mission to help grow and protect clients’ wealth. In addition to its referral program, Zoe’s platform brings account opening, funding, automated rebalancing, tax-loss harvesting, direct indexing, and fractional trading into one cohesive advisory experience. Learn more at https://zoefinancial.com/.
Disclosures:
Zoe Financial, Inc. (“Zoe Financial”) is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Zoe Financial provides investment advisory services and access to independent registered investment advisers through its platform. The information provided by Zoe Financial is for educational and informational purposes only and should not be construed as personalized investment advice or as an offer to buy or sell any security. All investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Clients should consult with their own financial, tax, or legal professionals before making any investment decisions.
The material presented by Zoe Financial is for informational purposes only and is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Material presented has been gathered from sources believed to be reliable, however Adviser cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source. Past performance is no guarantee of future results. Zoe Financial does not provide legal or tax advice, and nothing contained in these materials should be taken as legal or tax advice. SEC Registration does not constitute an endorsement of Zoe Financial by the SEC nor does it indicate that Zoe Financial has attained a particular level of skill or ability.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment or service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum, and make a determination based upon their own particular circumstances, that the investment is consistent with their investment objectives and risk tolerance. Lower expenses do not guarantee better investment performance.
Certain information contained herein may constitute forward-looking statements. Due to various risks and uncertainties, actual events, results or the performance of a fund may differ materially from those reflected or contemplated in such forward-looking statements.
CONTACT:
Carolina Padilla
[email protected]
SOURCE: Zoe Financial
View the original press release on ACCESS Newswire
