Zhang Financial's Charles Zhang has received a lot of press because of his background. Born in Shanghai, Zhang came to America without many connections and built his firm in a part of the country not many people would think to put down roots — Portage, Michigan. Zhang Financial appears on SmartAsset's list of the top financial advisors in Michigan.
Zhang Financial is one of the larger financial advisor firms in Michigan, as it boasts billions of dollars in client assets under management (AUM). It works with around 2,000 mostly individual, but also institutional, clients by providing customizable investment portfolio management and a range of financial planning services. This is a fee-only firm, as all of its compensation comes from client-paid fees. A fee-based firm, on the other hand, is one that earns these same client-paid fees, but also receives third-party forms of compensation, like insurance commissions.
Zhang Financial Background
Charles Zhang founded Zhang Financial in 2012. Today, he acts as the firm’s president, while Lynn Chen-Zhang holds two positions: CEO and chief compliance officer (CCO). From 2013 to 2024, Charles Zhang has been ranked as the top financial advisor in Michigan, according to Barron’s.
The firm's advisors and leadership team hold a multitude of advisory certifications. This list includes Certified Financial Planner™ (CFP®), certified public accountant (CPA), chartered financial analyst (CFA), chartered financial consultant (ChFC), chartered life underwriter (CLU) and more.
Zhang Financial Client Types and Minimum Account Sizes
Zhang Financial mainly manages the assets of individuals, both with and without a high net worth. However, the firm also works with institutional clients like pension and profit-sharing plans, charitable organizations and governments entities.
At Zhang, the minimum account size for clients is typically $1 million. While the firm generally does not negotiate this minimum requirement, it may be open to waiving the minimum at its sole discretion.
Services Offered by Zhang Financial
Zhang Financial’s premier service is fee-only portfolio management. The company provides discretionary services via a wrap fee program. There are also plenty of financial planning services to choose from, such as:
- Financial position analysis
- Protection planning
- Investment planning
- Tax planning
- Retirement planning
- Estate planning
- Employee stock option planning
- College planning
Zhang Financial Investment Philosophy
Zhang Financial’s advisors use several investment analysis techniques when selecting securities for its clients’ portfolios. The firm is intently focused on low-cost and disciplined investing. It has access to plenty of asset classes that it uses to craft individual portfolios that meet the risk tolerance, time horizon and income needs of each client.
In order to adequately diversify, the firm invests in a range of asset classes and market sectors. Zhang Financial may invest in exchange-traded funds (ETFs), no-load mutual funds, annuities, certificates, stocks, bonds and other more specific portfolio management programs.
Fees Under Zhang Financial
Zhang Financial charges clients an annual fee based on the total amount of AUM they have across all of their accounts, with a minimum fee of $3,000 per client. Notably, unlike at most advisory firms, the bracketed rates at Zhang are flat, meaning whatever tier your total balance places you in, that's the rate you'll be charged on your entire balance. Here's a breakdown of the fee schedule:
| Zhang Financial Fee Schedule | |
| Total AUM | Annual Fee |
| $1,000,000 to $2,500,000 | 1.00% |
| $2,500,000 to $5,000,000 | 0.90% |
| $5,000,000 to $10,000,000 | 0.80% |
| $10,000,000 and up | Negotiable |
Financial planning services utilize a separate fee schedule. These clients are charged either a fixed fee from $250 to $10,000 or an hourly fee between $100 and $500. These rates vary depending on the specifics of the client’s financial planning needs.
What To Watch Out For
Zhang Financial does not have any disclosures on its SEC-filed Form ADV.
Opening an Account With Zhang Financial
To open an account with Zhang Financial, you can go to its website and submit a contact form or call the firm directly. You can also visit the firm in person at one of its offices. Outside of its Portage headquarters, the firm has multiple other locations in Michigan (Ada, Battle Creek, Ann Arbor, Troy, Okemos, Traverse City), as well as in Chicago, New York City and Naples, Florida.
All information is accurate as of the writing of this article.
Tips for Your Investment Portfolio
- Before you invest your hard-earned money in the market, a financial advisor might be worth looking into. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Wondering if you have enough money saved for retirement? Check out our retirement savings calculator to see if you're on pace, and don't forget to take Social Security payments into account.
