Facet Wealth Raises $25M Series B, Sets Sights on Bringing Financial Planning to All American Households

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Led by Warburg Pincus, Facet Wealth’s Series B will be used to launch offering for employers and support consumer growth accelerated by Covid-19

Facet Wealth, a fintech company breaking the access and cost barriers in financial services, today announced $25 million in Series B funding and the formal launch of its new Financial Wellness product for employers. Led by global investment firm Warburg Pincus, with participation from other existing investors, the round is an increased investment in Facet Wealth to fuel market expansion in response to the rapid growth and success of the product.

This latest round of funding will be used to support the growth of the firm’s existing direct-to-consumer business, which has more than doubled since the start of the Covid-19 pandemic. “The pandemic has confirmed what we believed when we launched Facet Wealth in 2016: our model of virtual service delivery, with CFP® Professionals dedicated to the full financial planning needs of our clients, is the future of financial services. We are thrilled to continue to partner with Warburg Pincus to bring that future forward,” said Anders Jones, co-founder and CEO of Facet Wealth.

Building on the success of the signature financial planning service, Facet Wealth has also designed a Financial Wellness product to partner with forward-thinking employers who want to offer a deeper level of wellness benefits to their employees. It enables employers to alleviate the financial stressors of employees through a variety of financial planning services, as a complement to existing benefit offerings in order to give them a source of objective, fiduciary advice. Facet Wealth already has pre-launch partnerships with leading employers including ClassPass, MyVest and ChiliPiper, who share this commitment and desire to bring financial wellness to their teams.

“Since our first investment two years ago, the Facet Wealth team has proven their ability to meet a unique consumer need, evolving and expanding their offering to build a truly innovative client experience and business model”, said Jeff Stein, Managing Director at Warburg Pincus. “Their expansion into the employer market further solidifies them as a category-defining company that is well-positioned to disrupt the wealth management industry for years to come.”

Facet Wealth entered the market in 2016, introducing a no-minimum, membership-based model to make financial planning accessible to American households, regardless of their net worth. A Facet Wealth membership centers around a relationship with a dedicated CFP® Professional as a partner to achieve their goals. Clients meet regularly with their advisor to work on their customized financial plan and have access to a comprehensive platform, powered by proprietary technology, that tracks and analyzes their progress. The firm’s team of financial planners is distributed across the country, enabling them to easily serve clients across time zones, with flexibility for evening and weekend scheduling. Approximately 75 percent of Facet Wealth’s clients have not worked with an advisor before, an indicator of the expanded access the model is able to deliver. In recognition of their innovative approach and high-quality experience, Facet Wealth was named NerdWallet’s “Best Online Financial Planning Service” in 2020.

“Facet Wealth has designed and implemented the financial advice model of the future, that will help millions of underserved Americans,” said Chip Roame, Managing Partner of Tiburon Strategic Advisors and Facet Wealth Board Member. “The Facet team has grown through unique industry partnerships, and the addition of the Financial Wellness offering will engage forward-thinking employers to play a major role in their employees’ financial wellbeing.”

To date, Facet Wealth has raised $62 million in funding from Warburg Pincus, Slow Ventures and others.

For more information about Facet Wealth and its services, please visit http://www.facetwealth.com.

About Facet Wealth
Facet Wealth is the only company providing comprehensive financial planning services to Americans who want to improve their quality of life and are tired of blanket advice or being denied access because they don’t meet a net worth minimum. Its focus is on developing long-term, fiduciary relationships between clients and CERTIFIED FINANCIAL PLANNER™professionals, so individuals have continuous access to financial guidance as new challenges or planning needs arise over their lifetime.

Facet Wealth is an SEC-Registered Investment Advisor (RIA). Their fair price, membership-based model delivers a premium, high-touch experience to all clients, regardless of net worth or assets under management (AUM). Facet Wealth also provides a Financial Wellness offering for employers seeking to empower their employees with affordable, comprehensive financial guidance.

Facet Wealth is headquartered in Baltimore, Maryland with CFPs located across the United States. For more information, please visit http://www.facetwealth.com or find them on Twitter and LinkedIn.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $53 billion in private equity assets under management. The firm’s active portfolio of more than 185 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $84 billion in over 900 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit http://www.warburgpincus.com.

Facet Wealth PR Contact
Diffusion PR for Facet Wealth

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