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2023 Facet Wealth Review: A Comprehensive Analysis

I get asked about money tools a lot. Especially when it comes to financial management and planning tools, and whether there are more affordable options out there for more tailored financial planning service. Many of these options are online, so you can access them from your home or office.

The cost of traditional wealth management firms deters them from using the services, but tailored financial planning advice is something anyone juggling multiple financial goals could use. Individuals can still access the same quality of advice and benefit from having a financial plan tailored to their specific needs if they seek out more affordable options such as online advisors.

I am excited to tell you more about Facet Wealth today.

In this Facet Wealth review, I’ll be looking at the company and its primary features, pros and cons, and how it compares to a few other financial planning tools – so that you can get a better idea of whether it could be the right financial planning company for you.

What is Facet Wealth?

Facet Wealth was designed for people who want a comprehensive, tailored financial plan and professional advice, but can’t afford the services offered by traditional financial management companies. Facet Wealth’s services allow people to plan for their future without breaking the bank.

It provides virtual, expert, one-to-one portfolio management at a lower cost and is an alternative to these companies. It offers tax-loss harvesting to help you maximize your portfolio.

Facet Wealth assigns a certified financial planner who will work with you one-on-one to establish your needs and goals, develop a financial plan with actionable steps, as well as perform regular plan reviews to make sure you stay on track. Your CFP will be able to answer any questions you may have, as well as provide personalized advice tailored to your situation.

You will be able to contact your advisor if you have questions, but there will be formal check-ins. Don’t hesitate to reach out to your advisor to help you succeed. The financial plan can be changed for a variety of reasons. It’s important to review your financial plan regularly to make sure it’s still right for you.

The tool allows you to access high-quality, professional financial planning similar to that offered by a traditional financial planning firm. It does it with an incredibly low-cost, automated approach. The main difference between a traditional firm and Facet Wealth is the fact that all meetings with your dedicated CFP happen virtually (via phone or video), and the plan is managed online. There is no need to schedule an appointment or travel to a physical office at Facet Wealth, you can manage all of your wealth planning needs in the comfort of your home.

The Main Features of Facet Wealth

Dedicated Facet Wealth CFP

One of the best things about Facet Wealth is that you can work with a finance professional to help you take your finances to the next level. Every step of the way, your financial professional will be there to help you reach your goals.

Facet Wealth customers are assigned a Certified Financial Planner who offers top-tier financial management and planning services. A financial plan tailored to the customer’s needs will be created by the Certified Financial Planner. Professionals who go through extensive, in-depth training and testing are called CFPs. Financial advisers are qualified to give advice and guidance on a wide range of topics, from budgeting and debt management to investments and retirement planning.

Working with a It’s important to create a strong financial portfolio and learn how to manage it. TheCFP will take time to learn about you as a person and gain an understanding of your financial needs and goals. This information will be used to create a tailored financial plan for you.

In the first 90 days of Facet Wealth, you will be able to chat with your financial adviser via video conference to establish your financial situation and goals. During this period, your financial planner will give you resources and guidance to help you reach your goals.

Theplanner will be with you every step of the way to help you execute the actions. The planner can help you plan for any unforeseen financial obstacles that may arise along the way. You will speak to your CFP every six months, but they will be available to speak to whenever you have a question. Ensuring that your financial plan is on track and any changes that need to be made are addressed in a timely manner is what yourCFP will work with you to do.

Essentially, a designated CFP is always there to help you make sound financial decisions – and that’s a huge bonus.
Customized Portfolios

Facet Wealth takes a different approach to investing in portfolios.

A portfolio will be built based on your client’s financial situation and future goals. Guidance and advice on how to reach those goals will be provided by yourCFP. These portfolios are created from a list of low-cost exchange traded funds. The portfolios are designed to take advantage of multiple sources of return while reducing volatility.

There is a good balance of risk and rewards because investment expense ratios don’t reduce returns. It is possible to protect against market volatility with the help of mutual funds.

Direct Investment Management

Before you transfer money to the company’s custodian, you need to sell your investments. You may need to open a new account in order to transfer funds.

With Facet Wealth, accounts are managed at four custodians:

  • Fidelity
  • Pershing
  • TD Ameritrade
  • Charles Schwab

Facet Wealth allows direct investment management if you already have an account at any of these firms. Facet Wealth has independent financial advisors who can help you invest your money.

This is one of the things that sets Facet Wealth apart.

Comprehensive, Individually Tailored Financial Plans

The financial planning service offered by Facet Wealth is more tailored. The personalized service helps customers make the most of their financial goals and build a secure financial future.

It’s a bespoke service which essentially means your dedicated CFP will be able to help you with any major (or minor) financial decision you’re facing – whether it’s making the most of your employee benefits or helping you create an effective early retirement strategy.

You will be able to access your financial plan on Facet’s portal, where you can easily track your assets, liabilities, and action items. Your advisor will be notified when you make a change to your information on the tool, and will make sure your financial plan is adjusted accordingly. Your advisor will work with you to make sure your financial plan continues to meet your goals.

Flat Annual Fee

Facet Wealth comes with a flat yearly fee based on how complex your financial planning needs are – Below, I have covered that in more detail. Don’t hesitate to contact us if you have any questions.

How Much Does Facet Wealth Cost?

img alt=”FacetWealth logo” class “float-end ms-1 mb-1” decoding “async” height “125” Facet Wealth has a variety of services to meet your financial needs.

Depending on the level of financial management services you need, Facet Wealth will charge a subscription fee. You can get a free consultation with Facet Wealth to figure out what level of service is best for you. If your financial needs aren’t very complex, you can be paying very little for tailored financial advice. You can get financial advice at an affordable price.

If your plan requires complex wealth-management strategies, the annual fee can go up to $5,000. The annual fee for basic financial advice should be more than enough.

Here’s a rough idea of how much you might pay in the following scenarios:

$480 Annual Fee

If you are just starting out, your financial management may fall into the minimum cost tier. If you start small, you can learn how to manage your finances and eventually invest in more sophisticated financial solutions.

You can get advice on how to manage your cash flow, short-term and retirement savings, renter’s insurance, as well as how to maximize your workplace benefits. How to best invest your money for long-term growth can be given guidance by a financial advisor.

$1,600 Annual Fee

Facet Wealth charges a flat fee of about $1,600 for financial planning, if you need more than financial management advice.

That’s how much someone who is simultaneously managing multiple financial goals and investments could expect to pay.

$5,000 Annual Fee

If you own a business, you can expect to pay up to $5,000 a year for assistance in selling your business or any other more complex financial management strategies. A professional financial advisor can help you make the best decisions for your business in order to maximize its potential and minimize any potential risks.

Are There Any Additional Fees to Worry About?

The price for service includes an extra fee for portfolio management. One of the few firms that offer portfolio management for its clients at no extra cost is it.

If both of these clients have the same financial planning needs, they could both pay the same annual fee.

To find out your annual fee, you will need to attend a (virtual) meeting with a Facet Wealth advisor. To figure out how complex your financial planning needs are, you need to discuss your assets and financial goals with the advisor. You will have the chance to ask questions about your financial planning.

Pros and Cons of Facet Wealth

Here are the pros and cons of Facet Wealth – though, in my opinion, it has more pros than cons:


  • Each client gets a designated certified financial planner;
  • Flat annual fee based on how complex your financial needs are;
  • There is no upfront set-up fee;
  • Your financial plan is easy to track and make changes to online;
  • Full-service financial planning;
  • Investments are managed directly through brokerage firms;
  • Virtual meetings with your advisor mean you can work with them from anywhere;


  • All meetings are virtual – so no in-person communication;
  • Could be as expensive as some of the traditional firms out there if you need complex financial planning (up to $5,000);

Who is Facet Wealth Best For?

If you’re someone who has multiple financial goals – like starting a business, buying a home, as well as saving for retirement – Facet Wealth can help you align your finances with your goals and help you stay on track to achieve them. It is easy to track your spending, saving, and investing so that you can reach your financial goals.

When building wealth, working with a qualified financial planning professional is a huge bonus. You can reach your financial goals faster if you have access to the right advice and resources. Managing complex financial issues on your own is not something I would recommend if you are hesitant about making financial decisions. If you’re having difficulty navigating the financial landscape, it may be worth seeking out the advice of a trusted financial advisor who can provide personalized guidance and help you create a plan that fits your specific needs.

So, if you’re looking for customized financial planning at a lower cost, and don’t mind it all being online – Facet Wealth is the right option for you.

Even if you are just starting out and are looking to build your financial portfolio over time – Facet Wealth can help you make sound decisions that set you up for financial success at an affordable price. It’s an ideal solution for people who don’t have enough money to get a financial advisor.

Alternative Online Financial Planning Companies

Someof the companies that offer similar services to Facet Wealth have already been covered in my previous posts. It’s important to research and choose the best service for your needs.

Two tools that are worth mentioning are Personal Capital and Betterment.

While both of these have some attractive features to offer and are excellent for financial management, one thing to bear in mind is that with both Personal Capital and Betterment, you will pay more as the value of your portfolio increases.

The flat fee makes Facet Wealth a smart option as your financial portfolio grows, because the cost will only increase if you require additional, complex planning. You don’t have to worry about the cost of financial planning rising as your portfolio increases because this means you can focus on growing your wealth. The fee Facet Wealth charges will decrease if your financial planning and management needs decrease. Facet Wealth is able to handle increased demands as your financial needs become more complex.

Both Betterment and Personal Capital require you to have at least $100,000 in your account for wealth management services. Facet Wealth allows you to get financial advice regardless of your net worth.

Could Facet Wealth Help You Manage Your Finances?

Facet Wealth offers comprehensive, full-service financial advice and planning service at a lower cost.

You will receive top-level financial planning recommendations that help you grow your retirement and savings, plan your wealth and manage your investment accounts if you work with a designated CFP who knows your financial goals and needs inside out. Professional advice can help you make the most of your financial future, whether that’s in retirement, saving for a big purchase, or investing.

Facet Wealth is a great tool to use for anyone who wants specialized, professional financial advice without having to use a traditional, brick-and-mortar financial planning firm. It is easy to get personalized advice and tips from Facet Wealth. It is ideal for anyone who wants professional, one-on-one guidance for achieving financial freedom.

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