Facet Wealth: A Comprehensive Guide to Wealth Management

Filed in economy by on October 28, 2023 0 Comments

Introduction

Facet Wealth: A Comprehensive Guide to Wealth Management

Facet Wealth: A Comprehensive Guide to Wealth Management

Facet Wealth is an online financial advisor that provides customized financial planning services to clients. The company’s mission is to make financial planning more accessible and affordable for everyone. Facets Wealth was founded in 2016 by Anders Jones and Brent Weiss, both of whom have extensive experience in the financial industry.

Facets Wealth Overview Facets Wealth is an SEC-registered investment advisor that offers personalized financial planning services to clients. The company uses a team-based approach to financial planning, which means that each client is assigned a dedicated team of financial planners who work together to create a comprehensive financial plan tailored to the client’s individual needs. Facets Wealth’s financial planners are all certified financial planners (CFPs) who have years of experience in the financial industry.

Services Offered by Facet Wealth Facet Wealth offers a range of financial planning services, including retirement planning, investment management, tax planning, estate planning, insurance planning, and more. The company’s financial planners work with clients to create a customized financial plan that takes into account their unique financial situation, goals, and risk tolerance. Facet Wealth’s financial planners also provide ongoing support and advice to help clients stay on track and achieve their financial goals.

Key Takeaways

  • Facets Wealth is an online financial advisor that provides customized financial planning services to clients.
  • The company uses a team-based approach to financial planning, with each client assigned a dedicated team of financial planners.
  • Facet Wealth offers a range of financial planning services, including retirement planning, investment management, tax planning, estate planning, insurance planning, and more.

Facet Wealth Overview

Facets Wealth is a financial planning company that provides customized financial planning services to individuals and families. The company was founded in 2016 by Anders Jones, who wanted to create a more affordable and accessible financial planning service.

Facets Wealth’s services are designed to help clients achieve their financial goals by providing personalized financial plans that are tailored to their unique needs and circumstances. The company’s financial planners work with clients to create a comprehensive financial plan that covers all aspects of their financial life, including retirement planning, investment management, tax planning, and more.

One of the key features of Facets Wealth is its fee structure. The company charges a flat fee for its services, rather than a percentage of assets under management. This fee structure is designed to make financial planning more affordable and accessible to a wider range of clients.

Facets Wealth’s financial planners are all certified financial planners (CFPs) and have extensive experience in the financial planning industry. The company uses a proprietary technology platform to provide clients with a seamless and efficient experience.

Overall, Facets Wealth is a reputable and reliable financial planning company that provides customized financial planning services to clients across the United States. Its flat fee structure and team of experienced financial planners make it an attractive option for individuals and families who are looking for affordable and accessible financial planning services.

Services Offered by Facet Wealth

Facets Wealth offers a range of financial planning services to help clients achieve their financial goals. Their services include:

Financial Planning

Facets Wealth provides comprehensive financial planning services to help clients manage their finances and achieve their financial goals. Their financial planning services cover a wide range of topics, including budgeting, debt management, tax planning, insurance planning, and estate planning. They work with clients to create a personalized financial plan that takes into account their unique financial situation, goals, and risk tolerance.

Investment Management

Facets Wealth offers investment management services to help clients build and manage their investment portfolios. They use a data-driven approach to identify investment opportunities and manage risk. They offer a range of investment options, including stocks, bonds, ETFs, and mutual funds. They work with clients to create a personalized investment strategy that aligns with their financial goals and risk tolerance.

Retirement Planning

Facets Wealth provides retirement planning services to help clients plan for their retirement. They help clients create a retirement income plan that takes into account their retirement goals, lifestyle, and risk tolerance. They also help clients optimize their retirement savings and manage their retirement accounts, including 401(k)s, IRAs, and pensions.

In summary, Facet Wealth offers a range of financial planning services to help clients achieve their financial goals. Their services include financial planning, investment management, and retirement planning. They work with clients to create personalized financial plans that take into account their unique financial situation, goals, and risk tolerance.

Facet Wealth Pricing Structure

Facets Wealth offers a transparent pricing structure that is easy to understand. The company charges an annual fee that covers all financial planning services, including investment management, tax planning, and retirement planning.

The annual fee for Facets Wealth services starts at $2,400 per year. This fee covers all financial planning services provided by the company, including a dedicated CFP® professional and access to a team of financial experts across investments, taxes, benefits, and more.

Facets Wealth does not charge any additional fees or commissions for investment management. Instead, the company uses a fee-only model, which means that clients pay only for the advice and services they receive, and not for any products or investments recommended by the company.

The company’s pricing structure is based on the complexity of a client’s financial situation, as well as the level of service required. For example, clients with more complex financial situations may require more extensive financial planning services, which would result in a higher annual fee.

Overall, Facet Wealth’s pricing structure is transparent and easy to understand. The company’s fee-only model ensures that clients receive unbiased advice and recommendations, and that their interests are always put first.

How Facet Wealth Works

Facets Wealth is a financial planning and investment management firm that provides personalized advice to clients. The firm’s financial planners work with clients to create a comprehensive financial plan that takes into account their unique financial situation, goals, and risk tolerance.

To get started with Facets Wealth, clients first schedule a free consultation with a Facet expert. During this consultation, the client’s financial situation is assessed, and the expert provides an overview of the services offered by Facets Wealth.

If the client decides to move forward with Facets Wealth, they will be matched with a dedicated financial planner who will work with them to create a customized financial plan. The financial planner will take into account the client’s goals, risk tolerance, and other factors to create a plan that is tailored to their needs.

Once the financial plan has been created, the client will work with their financial planner to implement the plan. This may involve opening new investment accounts, making changes to existing accounts, or taking other actions to help the client reach their financial goals.

Facet Wealth charges an annual fee for its services, which is based on the complexity of the client’s financial situation. The fee ranges from $1,800 to $6,000 per year, and is determined after discussing the client’s financial goals and needs during a free initial call with an onboarding specialist.

Overall, Facets Wealth is a comprehensive financial planning and investment management firm that provides personalized advice to help clients reach their financial goals. By working with a dedicated financial planner, clients can create a customized financial plan that takes into account their unique needs and circumstances.

Benefits of Using Facet Wealth

Facets Wealth offers several benefits to clients seeking financial planning services. Here are some of the main advantages of using Facets Wealth:

Customized Financial Planning

Facets Wealth provides customized financial planning services tailored to each client’s unique financial situation. This approach ensures that clients receive personalized advice that is specific to their needs and goals. The company’s financial advisors take the time to understand each client’s financial situation, including their income, expenses, assets, and liabilities, before creating a comprehensive financial plan.

Flat Annual Fees

Facets Wealth charges flat annual fees for its financial planning services, which helps clients avoid the hidden fees that are often associated with traditional financial advisors. The company’s fees are tiered based on the complexity of the client’s financial situation, but there are no setup fees or other hidden costs. This transparent fee structure makes it easy for clients to understand exactly what they are paying for.

Access to Certified Financial Planners

Facets Wealth’s financial advisors are all Certified Financial Planners (CFPs), which means they have undergone rigorous training and testing to earn this designation. CFPs must adhere to strict ethical standards, which ensures that clients receive advice that is both competent and ethical. Clients can be confident that they are working with experienced professionals who have their best interests in mind.

Virtual Meetings

Facets Wealth offers virtual meetings with its financial advisors, which makes it easy for clients to get the advice they need from the comfort of their own homes. This approach also saves clients time and money by eliminating the need for in-person meetings. Clients can schedule meetings at their convenience, and Facets Wealth’s financial advisors are available to answer questions and provide advice via phone, email, or video conferencing.

Additional Services

In addition to financial planning, Facet Wealth offers a range of other services to help clients achieve their financial goals. These services include education planning, insurance planning, and retirement planning. Clients can choose to add these services to their financial plan as needed, which ensures that they have a comprehensive plan that addresses all of their financial needs.

Potential Drawbacks of Facet Wealth

While Facet Wealth offers many benefits and advantages, there are also some potential drawbacks to consider before signing up for their services.

Limited Investment Options

One potential drawback of Facets Wealth is their limited investment options. Facets Wealth primarily uses exchange-traded funds (ETFs) and mutual funds for their investment portfolios. While these investment options are generally considered safe and diversified, they may not be suitable for all investors. Some investors may prefer to invest in individual stocks or other alternative investments that are not available through Facet Wealth.

High Minimum Investment Requirements

Another potential drawback of Facets Wealth is their high minimum investment requirements. Facets Wealth requires a minimum investment of $5,000, which may be too high for some investors. This high minimum investment may also make it difficult for some investors to diversify their portfolios across multiple asset classes.

Limited Personalization

Facets Wealth’s financial planning services are primarily focused on goal-based planning and investment management. While this approach may work well for many investors, it may not provide the level of personalization that some investors are looking for. Some investors may prefer a more comprehensive financial planning approach that takes into account their unique financial situation, goals, and risk tolerance.

Fees

Facets Wealth charges fees for their financial planning and investment management services. While these fees are generally competitive with other financial advisors, they may be higher than the fees charged by robo-advisors or other low-cost investment platforms. Additionally, investors should be aware that fees can have a significant impact on investment returns over time.

Overall, while Facets Wealth offers many benefits and advantages, investors should carefully consider these potential drawbacks before signing up for their services.

Customer Reviews and Feedback

Facets Wealth has received mixed reviews from its customers. On Trustpilot, the company has an average rating of 2.8 out of 5 stars based on 3 reviews as of October 2023. One reviewer complained about a “membership swindle” and said they paid in full for a membership but did not receive the service they paid for. Another reviewer praised the company for their “professionalism and expertise.”

On NerdWallet, Facets Wealth received a rating of 4.5 out of 5 stars based on 10 reviews as of October 2023. Customers praised the company for their customized financial planning services and the expertise of their advisors. One customer said, “Facets Wealth has been a game-changer for my family’s finances. Their team of experts has helped us make informed decisions and optimize our investments.”

Forbes Advisor also gave Facets Wealth a positive review, stating that the company’s financial planning services are “tailored to clients’ unique goals and circumstances.” The review noted that the company’s fees are transparent and competitive, starting at $2,400 per year.

Overall, while there are some negative reviews, the majority of customers seem satisfied with Facets Wealth’s services. The company’s focus on customized financial planning and transparency with fees has received positive feedback from customers and reviewers alike.

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