Facet Review: Comprehensive Financial Planning in an Online-Only World
Written by
John Csiszar
Edited by
Melanie Grafil
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Facet gets credit for combining professional-grade financial advice in an online package. However, it's primarily for the mid-level "mass affluent," as its services may be too pricey for smaller investors and too hands-off for the wealthy.
Pros and Cons of Facet
Facet is one of just a few online-based firms that provide CFP-based consultations. Like its competitors, though, it has both pros and cons.
Pros
- Professionally managed portfolios led by the CIO and guided by an investment committee
- Management fees are based on the level of service and are assessed annually or quarterly
- No account minimums
- $0 commissions as part of overall fee package
Cons
- CFP advisors are only accessible online or via web conferencing
An Overview of Facet’s Features and Benefits
When it comes to the world of wealth management, Facet is just getting started. Based in Baltimore, Maryland, the firm only came into existence in 2016. As of March 2025, Facet has over 160 employees and has raised $210 million in investments from firms Multiplier Capital, Audacious Capital, Warburg Pincus, Slow Ventures, Durable Capital Partners, Telesoft Partners and Green Cow Venture Capital.
Facet is a combination of the professional guidance of Certified Financial Planners with online capabilities and a unique twist on fee-based service, it can be difficult to place Facet into just one specific category.
Facet stands out from its competitors in several ways. The firm doesn’t offer in-person consultations, and financial plans are provided electronically. The company also offers a level of service that competitors simply can’t match – personalized financial plans developed by well-trained CFPs. For this reason, the firm is better compared with robo-advisors that also provide CFP-based financial services.
| Feature | Details |
|---|---|
| Account minimum | No minimum required |
| Stock commission | Included in the monthly fee, no additional charge |
| Commission-free ETFs | Unlimited, part of the plan fee |
| Zero-transaction-fee mutual funds | Unlimited, part of the plan fee |
| Investment selection | -Broad range -Selected by the CFP professional unless clients opt for self-management |
| Customer service | -Access to a dedicated CFP professional -Available nearly any time and messaging is available |
| Mobile app | Not available |
| News and research | -Provided directly by the CFP professional -More to Learn articles and performance reports are also offered |
| Miscellaneous fees | -All fees are covered under the annual subscription. Information about fees is available here. -Facet waives their enrollment fee for new members that sign on for an annual membership. |
| Current promotion | –Member Referral Program –Annual Payment Promotion –Annual Account Debit Promotion –Payment Change Promotion |
| Equity trades | -Included in the plan fee; some additional service fees may range between $100 and $500 -Only offering annual or quarterly payments |
What Are Facet’s Best Features?
To help sort out whether or not Facet is a good option for you, here’s an overview of the products and services that the platform offers.
Investment Options
Facet offers essentially limitless investment options, from stocks and bonds to mutual funds, ETFs, municipal bonds and more.
CFP Professional Access
Facet members have unlimited access to CFP professionals.
Customer Service
Facet offers phone and video support to its customers. Meetings can be arranged with CFP professionals at nearly any time.
When you call in to Facet, you’ll be connected with your own dedicated CFP professional, and you can ask as many questions as you want. Advisors are available for consultation in the evenings. Consultations can be as short or as long as customers need.
Fees
Facet has no account minimums and charges no commissions. Instead, customers pay an annual fee of between $2,000 and $6,000 per year, which provides access to all of Facet’s features, including CFP access. There are a quarterly payment options as well.
How Facet Stands Out
As a full-service financial services firm that operates entirely online, Facet doesn’t offer the do-it-yourself individual services that many firms that offer similar services do. In some ways, however, this unique approach offers capabilities beyond those of traditional online firms. Here’s a look at some standard points of comparison.
Trading Experience
Facet doesn’t offer the traditional trading experience you might get with Fidelity or E*TRADE. But for a certain type of customer, this is a plus. Facet, in this sense, is more akin to a full-service registered investment advisor.
Your CFP-professional will handle your trading for you, in line with your investment objectives and risk tolerance, as established in your mutually developed financial plan. In other words, Facet doesn’t offer a retail-facing trading platform — all of your trading is handled in-house by your hired professional, based on your personalized needs.
Fees
Facet charges a flat fee to users, and there are no commissions or trading fees. There are also no account minimums.
Fee-Only Advisors
The financial professionals at Facet are Certified Financial Planners, meaning they are fiduciary financial advisors who are required to act in your best interest at all times. You also have unlimited access to your CFP advisors.
Performance
Facet has 100% equity and 70/30 balanced portfolios have each outperformed their benchmarks over the past one-, three- and five-year periods, according to the firm’s website.
Facet vs. Comparable Options
Facet doesn’t match up well in comparison with traditional investment platforms like E*TRADE and Fidelity. However, other options offer CFP-provided advice on a fee-based platform, as outlined below.
| Service Provider | Account Minimum | CFP Access | Fees |
|---|---|---|---|
| Facet | $0 | Dedicated CFP for personalized financial planning | Flat annual fee from $2,000 to $6,000 depending on complexity |
| Betterment Premium | -Digital Plan: $0 -Premium Plan $100,000 |
Unlimited | 0.40% annually |
| Range | $0 | Unlimited | -$1,475 Premium tier, semi-annually -$2,975 Platinum tier, semi-annually -$4,875 Titanium tier, semi-annually |
| Domain | $0 | Depends on plan choice | -One Page plan: $2,800 flat fee -Strategic plan: $4,800 flat fee -Comprehensive plan: $7,800 flat fee |
| Fruitful | $0 | Unlimited | -Monthly subscription fee between $83 to $98 -Quarterly and annual fee membership options available |
Keep in mind these firms aren’t exact matches with Facet, but there are many similarities in the services, especially financial planning and investing.
Facet offers comprehensive financial planning with dedicated CFPs with a flat annual fee, while Betterment charges a percentage for its fees. Betterment relies on robo-advisors, whereas Facet may be more personalized.
Range combines AI portfolio management with human support. Domain similarly offers a one-time flat fee, with plans offering engagement sessions that last either for one month, two months or six months. Fruitful provides unlimited access to CFP professionals.
How Can You Get Started With Facet?
You can contact Facet directly on the firm’s website. Other firms may have a feature where you can simply click on an “open an account” link. That’s not the case at Facet. You’ll provide basic information about your current financial situation and book a free, no-obligation 15-minute intro call to learn more about Facet and its various membership options.
Once you decide you want to open an account, you’ll have to provide the same basic personal and financial information as you would with any other bank or financial services firm. This includes your name, address, date of birth, Social Security number and funding information for your account.
Who Facet Is Best For
If you’re a do-it-yourself trader, Facet isn’t the best option for you. The firm is most like a traditional, full-service firm wrapped in an online brokerage package. Facet is most appropriate for clients in need of full-service financial planning but who are comfortable with working via video calls and online conferencing rather than meeting in person.
One of the major strengths of Facet is that it only employs Certified Financial Planners. CFPs are specially trained financial advisors that must act as fiduciaries — meaning, they are required by law to put client interests ahead of their own. This may seem like a rule that all financial advisors should follow, but the truth is they don’t.
Of course, beyond standard online brokerages, Facet has competitors in the “digital-meets-CFP” category as well. Robo-advisors like Betterment and Schwab Intelligent Portfolios have elevated their game by adding fee-based, CFP-directed financial planning services to their standard digital platforms.
Final Take
Overall, Facet offers an attractive package for clients who need fiduciary-based, comprehensive financial planning. Investors should, however, consider the costs and service levels provided by competitors to determine which is the best option for their money.
Facet FAQ
Here are answers to some frequently asked questions about Facet.- What are the cons of Facet?
- One drawback customers might have is that Facet does have an annual fee, ranging from $2,000 and up to $6,000, depending on the level and complexity of service required, which could be pricey for some. Others might not feel comfortable handing over their portfolios to outside professionals without opportunities to meet in person since all correspondence is done online.
- How does Facet work?
- Facet offers customized financial planning with unlimited access to Certified Financial Planner™ professionals. Advisors assist with financial matters such as retirement, estate planning, taxes and more. Customized portfolios are created based on the individual's financial goals. Individuals are not charged based on how much money they've invested, and there are no commission fees. All services are done online. A membership fee covers these offerings, which can be paid quarterly or annually.
- Is Facet a fiduciary?
- Yes, all of Facet's CFP professionals act as fiduciaries. They must adhere to the standards of the CFP Board to work in the best interests of their clients.
Rudri Patel contributed to the reporting for this article.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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- Fintech Futures. 2024. "Financial planning fintech Facet raises $35m funding round."
