What does Zacks Investment Management do?
Zacks Investment Management (ZIM) is an advisor-led wealth management service built around discretionary portfolio management and asset allocation.
It is mainly geared toward investors who want a human-managed portfolio, access to a broad menu of in-house strategies, and a more customized relationship than an automated investing service.
The firm has operated as a registered adviser since January 1992 and is owned by Zacks Investment Research.
As of March 31, 2025, it reported about $12.41 billion in discretionary regulatory assets under management (AUM) across roughly 12,050 accounts.
Key services:
- Customized portfolio management
- Financial planning
- Asset-allocation portfolios built from roughly 27 in-house equity and fixed-income strategies
It also offers managed accounts, wrap programs, private funds for eligible clients, mutual funds, and an online investment advisory program through Zacks Advantage.
What is Zacks Investment Management's investment philosophy?
Zacks Investment Management uses a research-based approach that combines quantitative models with qualitative review.
Its retail offering spans different investing styles, including dividend, core equity, growth, international equity, fixed income, tactical, income-focused, ESG, and long/short strategies.
Across these strategies, the firm generally relies on proprietary models and fundamental factors such as earnings estimate revisions, valuation, and risk controls, with portfolio managers retaining oversight over implementation and portfolio changes.
What are the pros and cons of Zacks Investment Management?
ZIM's financial advisory service combines proprietary research with access to a personal advisor, but it comes at a relatively high fee for smaller accounts.
Here’s a summary of the key advantages and disadvantages to help decide if it’s the right firm for you.
Pros of Zacks Investment Management:
- Wide range of strategy options: 27 distinct investment strategies covering equities, fixed income, ESG, international markets, and other approaches enable meaningful portfolio customization.
- Customization options: Clients can place reasonable restrictions, and the firm emphasizes tailoring around goals and preferences.
- Research-driven investment process: Zacks uses a hybrid process that combines quantitative models with qualitative review, supported by proprietary research inputs and strategy-specific portfolio construction methods.
- Asset-allocation approach: The retail program is built around combining strategies within a broader allocation framework, rather than offering only a single standalone model.
Cons of Zacks Investment Management:
- High formal minimum for the main wealth management service: The retail wealth management account minimum is generally $500,000.
- Standard retail advisory fees are on the expensive side: The main schedule starts at 1.80% annually on accounts up to $500,000.
- Layered fees possible: Clients invested in mutual funds or ETFs within their advisory accounts pay an additional layer of fund-level expenses in addition to the advisory fee.
Zacks Investment Management fees: How much does Zacks Investment Management cost?
The retail wealth management program uses a tiered annual fee schedule based on AUM, billed quarterly in advance.
Below are the fee schedules for the different services.
Main retail wealth management fee schedule:
| Assets under management | Annual fee rate |
|---|---|
| Up to $500,000 | 1.80% |
| $500,000 – $1,000,000 | 1.65% |
| $1,000,000 – $1,500,000 | 1.50% |
| $1,500,000 – $2,000,000 | 1.45% |
| $2,000,000 – $2,500,000 | 1.35% |
| $2,500,000 – $3,000,000 | 1.30% |
| $3,000,000 – $3,500,000 | 1.25% |
| $3,500,000 – $4,000,000 | 1.20% |
| $4,000,000 – $4,500,000 | 1.15% |
| $4,500,000 – $5,000,000 | 1.10%; |
| $5,000,000 – $10,000,000 | 1.05% |
| Over $10,000,000 | 1.00% |
Individual fixed-income securities accounts：
| Assets under management | Annual fee rate |
|---|---|
| $500,000 – $2,000,000 | 0.65% |
| $2,000,000 – $4,000,000 | 0.50% |
| $4,000,000 – $6,000,000 | 0.40% |
| Over $6,000,000 | 0.25% |
Global tactical strategy (retail)：
| Assets under management | Annual fee rate |
|---|---|
| $0 – $500,000 | 0.95% |
| $500,000 – $1,000,000 | 0.90% |
| $1,000,000 – $4,000,000 | 0.80% |
| Over $4,000,000 | 0.70% |
Zacks strategies direct：
| Assets under management | Annual fee rate |
|---|---|
| $0 – $500,000 | 0.99% |
| $500,000 – $1,000,000 | 0.90% |
| $1,000,000 – $2,000,000 | 0.80% |
| $2,000,000 – $5,000,000 | 0.70% |
| Over $5,000,000 | 0.60% |
- Premier Select Strategy (Retail): Annual Fee Rate is 1.50
In addition to the advisory fee, clients are responsible for custodial fees and trading costs paid directly to their custodian.
Clients who invest in mutual funds or ETFs also pay the applicable fund-level expense ratios in addition to the advisory fee.
What is Zacks Investment Management’s minimum account size?
The formal minimum for a retail wealth management program account is $500,000 in equity assets.
For individual fixed-income securities accounts, the stated minimum is also $500,000. The firm may accept smaller accounts at its discretion.
Who should choose Zacks Investment Management?
ZIM's financial advisory service is designed primarily for investors seeking a fully managed, advisor-supported portfolio built on proprietary quantitative and fundamental research.
Zacks Investment Management works well for:
- Affluent investors who want a managed portfolio: The service is structured for hands-off investors who want a professional to manage allocations and make investment decisions on their behalf.
- Clients who value customization: Zacks allows reasonable portfolio restrictions and emphasizes tailored solutions.
- Investors who want research-driven portfolio construction: Independent quantitative data and proprietary earnings-based models may appeal to clients who prioritize a systematic, research-backed investment process.
- Clients who want strategy-level customization: The ability to choose from a broad range of strategies and impose restrictions on specific securities or sectors gives clients more flexibility.
Who might not benefit as much:
- Investors with less than $500,000 to invest: The formal account minimum excludes most early-stage or smaller investors, and those accepted below the minimum do so at ZIM's discretion.
- Cost-sensitive investors: The 1.80% starting fee, plus potential fund-level expense layers and trading costs, may be higher than comparable alternatives.
- People who prefer very simple, low-turnover indexing: Some Zacks strategies are active, tactical, or higher-turnover, which may not align with investors looking for a straightforward passive indexing approach.
Zacks Investment Management: Is it secure?
Zacks is registered with the SEC as an investment adviser and operates as a fiduciary, meaning it is legally required to act in clients' best interests.
Client assets are held in custody by unaffiliated broker-dealers or banks — specifically Schwab, Fidelity, or Folio, depending on the client's arrangement. ZIM does not hold client assets directly.
The firm also has business continuity plans and systems designed to prevent cyberattacks, while acknowledging the limits of those controls.
Zacks Investment Management: Customer service
The service model is advisor-led. Retail clients generally work through a ZIM Investment Consultant or Regional Vice President, and accounts are generally reviewed quarterly.
During these reviews, the consultant assesses whether life circumstances, such as retirement, employment changes, or family events, warrant a change in portfolio allocation.
Zacks Investment Management: Mobile app
Zacks Investment Management, Inc, has no dedicated mobile app.
Zacks Investment Management's advisory clients can access their account information via a client login portal.
Clients may also access account data through the custodian's platform, Schwab, Fidelity, or Folio, each of which offers an app or client portal.
Is Zacks Investment Management worth it?
Zacks Investment Management is an advisor-led wealth management service with a broad in-house strategy lineup, a well-defined investment process, and customized services.
Its main trade-offs are the high entry point, relatively high standard retail fees, and the possibility of layered costs in some portfolio setups.
The service is likely to appeal most to investors with enough assets to meet the minimum and who want a professionally managed portfolio with access to a human advisor.
For investors who are more fee-sensitive, have smaller portfolios, or prefer a simpler and lower-cost setup, it may be less appealing.
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Assets under management Annual fee rate
$0 – $500,000 0.99%
$500,000 – $1,000,000 0.90%
$1,000,000 – $2,000,000 0.80%
$2,000,000 – $5,000,000 0.70%
Over $5,000,000 0.60%