Facet Rebrands; Reimagining Financial Advice for the Modern World

The fintech company sparks a major cultural shift around money, broadening access to expert advice to millions of households

Baltimore, Md., Feb. 15, 2023 (GLOBE NEWSWIRE) -- Facet, the company revolutionizing personalized financial advice with an annual membership model, today announced a comprehensive rebrand to align with its mission to unlock invaluable and impartial advice to more Americans. The company, formerly known as Facet Wealth, has undergone a total brand transformation and upgrade to its virtual customer experience to reflect its commitment to redefining financial planning to incorporate everything in life that money touches.

Facet significantly lowers the cost of financial planning, making it accessible to a much broader market than what is currently available in the existing industry. Through an annual membership fee, clients have ongoing access to a team of experts across all facets of life, including investments and taxes, and their own CERTIFIED FINANCIAL PLANNER™ professional (CFP®) to work with them virtually, one-on-one. Facet helps their clients navigate both the expected and unexpected financial decisions that continuously emerge in life, providing tailored advice and guidance at every step of the way.

“The current industry model is broken,” said Anders Jones, co-founder and chief executive at Facet. “It was designed for firms to make as much as possible from the client, rather than helping real people meet their life goals. Facet is turning this model on its head. We’re making expert financial advice accessible to the masses – not just the uber rich – with the goal of empowering them to actualize the life they envision, while helping them build long-term wealth.”

Traditional financial service fees are based on assets under management (AUM), which charge clients fees based on how much they invest, taking more from clients’ pockets as their portfolio grows. Additionally, many financial advisors earn commissions on products sold, which creates a conflict of interest and results in an incentive model that is not aligned with the client.

Facet’s membership-based model rejects charging fees based on how much you invest, ensuring clients keep more of the wealth they build. This allows clients to retain more of the benefits actualized through Facet's expert advice.

The freshly redesigned Facet experience boasts a state-of-the-art proprietary planning platform that empowers clients to investigate different financial scenarios and assess the impact of their choices on their objectives, as well as tailored consultations with their own dedicated CFP® Professional and access to a team of experts to achieve a wide variety of life goals.

“Facet is leading a seismic cultural shift, encouraging people to think about money not as an asset but as a tool,” said Shruti Joshi, COO at Facet. “When you think about it, there is no wellness without financial wellness. We provide our clients the resources and expertise that enable them to thrive in every facet of their lives."

Facet currently works with more than 18,000 clients and manages more than $1.5 billion in investments, representing thousands of individual lives empowered and enriched through access to personalized, expert-guided financial planning services. To learn more about Facet and the services available, visit facet.com.

About Facet
Facet is a national SEC-Registered Investment Advisor (RIA). Founded in 2016 on the belief that unbiased, personalized financial advice is essential to living well, Facet’s mission is to empower people to live more enriched lives by delivering a new standard of advice. Without asset minimums, Facet’s planning goes far beyond a person or family’s investments by focusing on advice that addresses every way money impacts their life. This has made Facet a finalist in the category of Industry Disruptor for the 2022 WealthManagement Industry Awards, as well as a top 50 honoree on the 2022 Inc. 5000 list.

Its tech-driven approach is customized to each client’s needs, pairing individuals with their own CERTIFIED FINANCIAL PLANNER™ professional, a fiduciary who meets with them 1:1 to integrate tailored financial advice into their entire life – all at an affordable flat membership fee. Facet’s community of over 100 CFPs are providing traditionally overlooked households with the power of choice and freedom from financial worry. In recognition of their innovative approach and high-quality client experience, Facet was named NerdWallet's "Best Online Financial Planning Service" in 2020. Additionally, Facet has been named as one of Financial Planning’s 50 Best Places to Work in Fintech in 2022.

To date, Facet has raised more than $165 million in funding from Durable Capital Partners LP, Warburg Pincus, Slow Ventures, Telesoft Partners, Green Cow Venture Capital and others.

For more information, please visit facet.com and connect on Twitter, LinkedIn, Instagram and Facebook

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