Fast-Growing Wealth Management Platform Zoe Financial Selects BridgeFT’s WealthTech API to Power Its Data Connectivity and Infrastructure
Zoe will use BridgeFT’s WealthTech-as-a-Service offering to remedy the complex, disjointed tech stacks that plague many high-performing advisors.
CHICAGO, May 23, 2023 — BridgeFT, a cloud-native, API-first wealth infrastructure software company that enables financial institutions, fintech innovators, and registered investment advisors to deliver better, data-driven outcomes for their clients, announced today that Zoe Financial, a wealth platform that connects individuals seeking service, stewardship, and solutions with the most qualified advisors in the country, has selected BridgeFT’s WealthTech API to power its data connectivity and infrastructure.
Based in New York and backed by institutional investor Softbank, Zoe Financial is a one-of-a-kind, wealth platform where consumers come to find, hire and work with top independent financial advisors. As the Zoe team worked to launch their new product suite, they sought key partners to bolster their system’s capabilities while also improving development cycles and accelerating time to market. BridgeFT’s WealthTech-as-a-Service provided Zoe with modern technology to bring together critical client data from multiple custodians, core application services, such as Client Performance Reporting and Fee Billing, with embedded business logic to develop their own unique tools for greater differentiation, and flexibility to innovate across their client and advisor experiences — all while saving them time and money and eliminating the need to build these functions in-house.
“Zoe Financial shares our mission of modernizing and simplifying the most archaic parts of the wealth management industry,” said Joe Stensland, BridgeFT’s Chief Executive Officer. “We were honored the Zoe Financial team chose BridgeFT’s WealthTech API to power the innovations they are bringing to market to help match clients with their ideal fiduciaries, financial advisors, and financial planners.”
For Zoe Financial, a core goal is to remedy the complex, disjointed tech stacks that plague many high-performing advisors. That means offering seamless fee billing and client reporting powered by accurate, on-time custodial data was mission-critical. Like many wealth management platforms, Zoe Financial faced the classic build-versus-buy decision as the team planned the expansion of their modern platform. Zoe Financial could either spend internal development resources and time building critical data connectivity, or it could find a trusted partner with the expertise and modern technology that not only ensured its data needs were met, but could also provide a framework and infrastructure to scale its platform.
“BridgeFT’s WealthTech API was precisely the accelerator we needed to normalize and process client account data directly to make the implementation process frictionless and easy,” said Rajesh Gaur, Head of Investments at Zoe Financial. “What’s more, we feel we have partnered with a team instead of a vendor. BridgeFT is an extension of our own internal team, just like how our advisors think of us as an extension of their team.”
BridgeFT’s WealthTech API is the industry’s first WealthTech-as-a-Service platform, offering a single, open API to trade-ready, multi-custodial data, analytics, and applications. WealthTech API removes the need for individual data feeds from a range of custodians and back-office providers, allowing wealth management firms and FinTech companies to create differentiated, next-generation wealth management applications.
BridgeFT is a cloud-native, API-first Wealth Infrastructure software company that enables financial institutions, FinTech innovators, TAMPs, and registered investment advisors to deliver better, data-driven outcomes for their clients. Leading financial services firms and technology companies trust BridgeFT to power their digital wealth management ecosystems and automate critical back-office operations—seamlessly aligning essential wealth data, proactive client insights and reporting, and portfolio management automation to deliver a truly personalized client experience. From an integrated advisor solution to the industry’s only WealthTech-as-a-Service platform offering open APIs, BridgeFT delivers the infrastructure needed to power next generation wealth management applications. For more information, visit bridgeft.com.
About Zoe Financial
Zoe was founded with one mission: to accelerate wealth creation through exceptional client experience and innovative technology. The company’s human experts, alongside powerful technology, remove the friction from the process of finding and hiring a financial advisor. Through Zoe’s Platform, you will connect with trusted Financial Advisors across the United States based on your unique financial situation and objectives. Zoe’s thoughtfully curated Network of interest-aligned financial advisors includes only the top RIAs in the country. For more information, visit zoefin.com.
For Zoe Financial