Facet

Facet serves individual members across a broad range of net worth levels through subscription-based financial planning, with investment management included as part of membership. The firm focuses on retail individuals and does not provide services to corporate/business clients or charitable organizations, a service gap that is uncommon for firms of its size.

Facet implements model-based asset allocation primarily using ETFs and, at specified service tiers, supplements those models with direct indexing, alternative income funds, tax-sensitive fixed income, and tax-loss harvesting for taxable accounts. It relies on technology-driven processes — including a tax-optimized model implementation, a proprietary algorithm for recommending allocations in employer-sponsored plans, and regular account monitoring and rebalancing — and designs its programs to comply with Rule 3a-4 standards.

What distinguishes the firm from many peers is its flat subscription pricing model that includes investment management rather than charging a percentage-of-assets-under-management, and its disclosed private-equity ownership (Warburg Pincus and Durable Capital) along with a financing/investor relationship with its primary custodian that the firm manages through policies and disclosures. Facet manages roughly $4.75 billion for over 12,000 members with 63 advisors, emphasizes a holistic Total Financial Life Resources (TFLR) framework, and offers strategies (such as an Alternative Income option and direct indexing) that may be limited to particular account types or investor qualifications.