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Sponsored by LPL Financial
In this episode, David Armstrong is joined by Anders Jones, co-founder and CEO of Facet Wealth, to discuss the firm’s recent $100 million equity raise, how the business model of Facet Wealth has evolved from a buyer of clients’ business from other RIAs to a consumer-facing, subscription-based financial planning firm for clients who may not at first have the assets to sit comfortably at a more traditional RIA, and how the company is using technology to improve the efficiency of its over 100 in-house CFPs to the point where each advisor can take on more than twice the number of clients than the industry’s average.
Anders discusses:
- How Facet’s original intention of buying smaller clients from existing RIAs didn’t really work, and why that’s a testament to most advisor-client relationships.
- How they’ve grown to 11,000 clients, 75% of whom have never had a financial advisory relationship, with an aggressive digital marketing strategy, taking in thousands of leads a day.
- How Facet’s technology model creates highly efficient advisor workflows, separating prospecting and onboarding of clients from the responsibility of financial planners.
- How the firm plans to use its newest round of capital—not to hire more advisors necessarily, but to expand the service offerings into areas like taxes and estate planning.
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