Facet grows '10X,' hits $1 billion in AUM, reaps $100 million C-round, largely from DoorDash backers, and calls itself a 'fintech' company that happens to give advice by CFP
The Baltimore RIA had only raised $65 million in its first five years but jumped its overall haul to $165 million after its growth rate held up
Author Brooke Southall January 20, 2022 at 2:52 AM
Gerri L.
January 20, 2022 — 1:30 PM
Congratulations on these significant milestones, Anders! Cheers.
Brian Murphy
January 20, 2022 — 8:14 PM
If, in fact, the average fee for a Facet relationship is $3k on $100k in assets - this is ridiculous. I understand the game; Facet brings in individual clients and offloads them on independent CFPs. Facet pays the CFPs, so Facet's margin is some % of that subscription. But what's the justification for such fees?
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Facet Wealth gets Vanguard's RIA man in Arizona with hopes he can replicate the fund firm's $115-billion success--before burning through Facet's VC backing
Fresh off 27 new hires, 400 new clients, $47 million in fresh assets, Facet CEO Anders Jones knows he needs one hire for new AUM and new CFPs in grand measure
