Founded in 2016, Facet is one of the fastest-growing financial services companies in the United States. It is on SmartAsset's list of the top financial advisors in Florida. The financial advisor team provides a wide range of financial planning and investment management services to its client base, which consists entirely of individuals both above and below the high-net-worth threshold.
As a fee-only firm, Facet's advisory staff does not receive commissions or other forms of compensation from the sale of third-party financial products. A fee-based firm, on the other hand, would have advisors with those arrangements.
Facet Background
Patrick McKenna, Anders Jones and Brent Weiss founded the firm. McKenna serves as executive chairman, Jones acts as CEO and Weiss is the firm's head of financial wellness. The financial advisor team at the firm holds multiple certifications, including Certified Financial Planner™ (CFP®), chartered financial consultant (ChFC) and more.
Facet Client Types and Minimum Account Sizes
Facet works exclusively with individual clients. It has more than 15,000 such clients, a minority of which have a high net worth.
Facet does not impose a traditional minimum investment requirement for new clients.
Services Offered by Facet
Facet provides a variety of investment management and financial planning services to clients. These services typically relate to one or more of the following topics:
- Investment portfolio design and management
- Cash flow and income planning
- Retirement planning
- Estate planning
- Risk management and insurance
- Income tax planning and tax filing
- Equity compensation planning
- Education funding planning
- Employee benefits planning
- Charitable gift planning
The firm generally does not provide stand-alone investment management services, instead combining these offerings with financial planning services to build a holistic financial strategy.
Facet Investment Philosophy
Facet looks to cultivate individual relationships with all of its clients to ensure that it's providing an investment and financial planning experience that meets the client's exact needs. As a result, each client relationship begins with an information-gathering session where advisors learn about the client's investment history, financial goals, risk tolerance and more. Based on these insights, advisors take a wide-angle approach to helping clients along with their investment objectives.
The firm typically allocates client assets in exchange-traded funds (ETFs), but may also utilize mutual funds, stocks and bonds. Advisors may use cyclical, technical and fundamental methods of analysis to help inform their investment decisions. The firm looks to purchase securities on both a long- and short-term horizon, with the quantity of each depending upon the specifics of your situation.
Fees Under Facet
Facet's fee structure is fairly unique and based on various package tiers for its financial planning and investment management services. Fees range from $2,600 to $10,000 per year. These fees can be paid quaterly or annually, though if you decide to pay quarterly, you'll also be subject to a $300 enrollment fee.
What to Watch Out For
Facet has no disclosures on its SEC-filed Form ADV.
Opening an Account With Facet
If you're interested in opening an account with Facet, you can visit the firm's website and submit a contact form or schedule an introductory meeting. Alternatively, you can call the firm at (443) 376-6222 or send an email to info@facet.com.
All information is accurate as of the writing of this article.
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