A Review of Facet Wealth in 2023

Mar 07, 2023 By Triston Martin

Financial considerations factor into most life choices, so having a financial advisor on your side may be helpful. You may rely on Facet Wealth for advice if you need more confidence to make major financial decisions or invest independently.

No of your financial situation, asset level, or size of the portfolio, Facet Wealth can help you invest in all areas of your life. The firm was founded in 2016 on the principle that financial planning should be made available to anybody who needs it.

To that end, they offer free, objective, and virtual financial planning services provided by a staff of over a hundred CFPs (CFPs). Financial planners (CFPs) are legally obligated to put their client's needs before their own.

What Kind of Person Needs Facet Wealth?

Facet Wealth is the way to go for individuals needing financial guidance but wary of paying exorbitant fees. When managing your money, the standard cost for traditional financial consultants is one percent or more of your total assets.

Unlike other financial advisory firms, Facet Wealth's pricing is always the same. If you want a commission-free investment platform, Facet Wealth might be ideal. Typical financial advisers may charge additional fees for recommending services, purchasing items, and making stock trades.

Not everyone would benefit from using Facet Wealth. For novice investors, investing in expensive services or guidance for several years may be okay. Low-cost robo-advisor firms that handle modest investment portfolios may be the best option for individual investors with limited capital.

What Is The Procedure For Using Facet Wealth?

The first step is to request a time for a virtual consultation on the Facet Wealth website. On average, a phone or video call consultation lasts about 30 minutes. When you join, Facet will send you a booklet outlining the program's structure, rules, and options, given your current financial status and personal preferences.

You will also be asked to complete a questionnaire about your family, present financial situation, and future financial ambitions. This data will be shown on a dashboard. A CFP will contact you after reviewing your consultation to discuss your current and long-term financial plans and objectives.

The type of assistance required can be estimated here. Your certified financial planner will draw up a "financial blueprint" detailing the strategies they recommend for you to reach your long-term financial objectives.

What Are The Advantages of Facet Wealth?

There are several benefits to joining Facet Wealth, some of which are listed here.

Full-Service Investment Management

Like many other investment advisors, Facet Wealth offers direct administration of taxable brokerage accounts and individual retirement plans. Solo 401(k) plans, SEP IRAs, SIMPLE IRAs, and regular IRAs are all examples. Moreover, they give investment advice for employer-sponsored retirement plans like 401(k)s and 403(b)s, but they must handle the programs themselves. It is possible to implement the advice given to you by your employer's plan to integrate your investments better.

Expertise Requirements

The financial planners at Facet Wealth are all licensed professionals. Several corporations that employ financial advisors have this as a prerequisite for employment, but there are also many others whose staff see product sales as their primary objective. Financial advisers at Facet Wealth are required to uphold a fiduciary standard. The distinction is crucial when choosing an investing service. Legally, fiduciaries must put the interests of their client ahead of their own or their employer's.

Flat Fees

Facet Wealth's flat rate pricing is a strong selling factor. Many buyers find that flat rates are the most economical choice. You only pay a charge depending on the help you require for your investment management and service level rather than a flat cost based on your asset amount or the commission your adviser gets.

Useful All-Finances-In-One-Place Dashboard

Having a centralized location for all of your financial data is quite helpful. With Facet Wealth, you can access your financial plan and all of your accounts in one convenient location. Those that use various services or have many accounts with different companies will appreciate this feature the most.

Customized Strategy

Facet Wealth's individualized attention from a financial advisor is a clear advantage compared to other organizations. Facet Wealth recognizes the significance of long-term investment growth and financial security but prioritizes achieving more immediate objectives.

Conclusion

A financial adviser at Facet Wealth is available for a no-cost initial session if you may use some assistance managing your money. Have your finances evaluated at no cost to see if working with Facet Wealth is your best option. Please schedule a consultation, have a look at their services, and then make a decision.

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