No commissions, no ads, no advice. This Facet profile draws only on public records, each linked so you can confirm it yourself.

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1. Check the SEC adviser record. Open the SEC's IAPD record for Facet (CRD #285961) and confirm its registration.

2. Read the filings. Review the Form ADV / Form CRS and any disclosure section linked from the IAPD page.

3. Confirm the entity. Match CRD #285961 / Facet Wealth so you're reading the right firm.

The short answer: is Facet a fiduciary?

Yes. Facet is a fiduciary: as a fee-only registered investment adviser, it owes you a duty to act in your interest for the whole advisory relationship. It isn't a broker-dealer. Facet is an SEC-registered investment adviser (CRD #285961) and reported $8.7 billion in regulatory assets under management as of its latest Form ADV (filed October 2, 2026), across approximately 16,000 clients. Because it's fee-only, it's paid by clients and earns no commissions on products. According to its Form CRS (October 2, 2026), the firm charges a flat annual membership fee, generally $2,600 to $10,000, billed quarterly or annually in advance, and investment management is included in that fee. All of it sits on the public record, and confirming it for yourself takes only a few minutes.

Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer. That points to the adviser's fiduciary standard as the one governing its advice, though each individual's own registrations are still worth confirming on IAPD and BrokerCheck.

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

Facet at a glance

✅ Verified from public filings, last checked October 5, 2026. Facet (SEC CRD #285961) is a fiduciary for the whole advisory relationship, on a fee-only basis, with $8.7 billion in regulatory assets under management. Every figure below links to its primary source.

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Facet fees: what you'll pay

According to its Form CRS (October 2, 2026), Facet charges a flat annual membership fee, generally $2,600 to $10,000, billed quarterly or annually in advance, and investment management is included in that fee.

• Account minimum: There is no minimum to become a member. Investment accounts other than the High-Yield account require a $500 minimum initial purchase.

• Other costs you may pay: Custodians can charge commissions or transaction fees. Optional Direct Indexing carries a sub advisor fee of up to 0.15%. A $10 monthly per account fee applies if a member cancels and leaves accounts at the custodian.

Facet is fee-only: according to its Form ADV (Item 5.E), it is paid fixed fees by clients and takes no commissions. That structure avoids commission conflicts. Fee-only doesn't automatically mean low-cost. It means the cost is the advisory fee, stated plainly. (Fee-only financial advisor: costs and how to find one)

Fee-only means the firm is paid only by its clients, never by commissions on the products it recommends.

A flat fee also changes how you compare Facet with other advisers. The same dollar fee is a larger share of a small portfolio than of a large one. Before setting it against a percentage-of-assets adviser, divide the quoted fee by the assets you'd have Facet manage. (Are you paying too much? Why that might be the wrong question)

Who owns Facet, and what conflicts does it disclose?

Here's who controls Facet, drawn straight from its filings. Facet (formerly Facet Wealth, Inc.) is a venture- and private-equity-backed firm. According to its Form ADV, funds affiliated with Warburg Pincus hold a greater-than-25% ownership interest, Durable Capital Partners holds an interest, and co-founders Anders Jones (CEO) and Patrick McKenna each own more than 5%. (Facet Form ADV (CRD 285961))

Every adviser has conflicts of interest. These are the ones it names in its Form CRS (October 2, 2026):

• The $300 enrollment fee for quarterly billing encourages members to pay annually in advance, which gives Facet a larger upfront non-refundable fee.

• Facet may introduce members to third parties for services such as estate documents or tax filing and earns revenue from those services.

How its financial professionals are paid: Representatives are paid a flat annual salary and a bonus based on member retention and satisfaction, not commissions or assets under management.

Facet SEC record: disclosures

To check Facet's regulatory record, start with the firm's own filings. On its Form ADV, Facet answers No to the firm-level disciplinary-history questions. You can confirm that on the public record. Its Form CRS (2026) answers Yes to "Do you or your financial professionals have legal or disciplinary history?"

The two answers cover different ground. The Form ADV questions are answered for the firm, while the Form CRS question also takes in the individual records of its financial professionals. Read together, the Yes most likely reflects one or more individual records rather than a firm-level event. That makes the individual lookup the one that matters here: search each adviser you'd work with at Investor.gov, IAPD and BrokerCheck, and read any disclosure there, in context, rather than secondhand.

On the record, the firm has been registered with the SEC since December 15, 2016, makes notice filings in 53 jurisdictions, and reports 262 employees, 89 of them in investment advisory roles. On the question of whether Facet is legit, registration is the starting point: a public CRD and filings anyone can pull confirm it's a real, regulated adviser. Whether it's right for you is a separate question. Other firms checked the same way are in the Truthifi /advisors hub.

Reading Facet reviews against the public record

Star ratings describe how a membership felt. They seldom show the mechanics Facet reports to regulators, and three of those deserve more weight than any review. First, the fee is flat and paid in advance, and the $300 enrollment fee for quarterly billing nudges members toward paying a full year up front. Second, planners earn a salary plus a bonus tied to member retention and satisfaction. That ties the firm's pay to retaining clients rather than to product sales. Third, the firm-level and individual-level disclosure answers differ, as explained above. Read reviews alongside the record, not instead of it.

How to verify Facet yourself

Here's how to confirm all of it in three steps:

1. SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/285961.

2. Form CRS: https://reports.adviserinfo.sec.gov/crs/crs_285961.pdf.

3. Confirm the entity: match Facet (CRD #285961, legal name Facet Wealth) so you're reading the right firm.

What Facet does and who it serves

According to its Form CRS (October 2, 2026), Facet provides financial planning that can include investment management, covering areas such as insurance, estate planning, taxes, employee benefits, cash flow, retirement and education. On its Form ADV it reports providing financial planning and portfolio management for individuals and small businesses.

It reports providing financial planning to about 16,000 clients in its last fiscal year (Form ADV Item 5.H). That item asks only about financial-planning clients and has larger firms round their answer, so it isn't meant to match the exact client breakdown below.

Its Form ADV (Item 5.D) breaks its clients down by type, about 16,053 in all:

It reports 47,740 client accounts, more than the roughly 16,053 clients counted above (many clients hold more than one account), all managed on a discretionary basis, meaning the firm can trade without seeking your approval first (Item 5.F). Its main office is in West Palm Beach, FL.

Set against its staffing, those counts work out to roughly 180 clients for each of its 89 advisory employees. That's our arithmetic, not a figure Facet reports, and roles vary. Still, it's a fair question for a first call: how many members will your planner serve?

It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.

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The hard part isn't checking the firm. It's seeing your whole financial life.

Confirming Facet is registered takes a few minutes. The harder check is one its filings can't do for you. Facet's flat fee covers planning and investment management, yet its Form CRS lists costs outside it: custodian commissions, a Direct Indexing fee of up to 0.15% and a $10 monthly per-account fee if you leave accounts behind. Its planning also reaches into retirement and employee benefits, where a workplace plan or a spouse's IRA may sit outside the accounts Facet manages. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Facet.

Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. To ask that assistant about your fees, including whether Facet's flat fee plus those extra costs adds up, pick a plan with fee questions built in: Monitoring or Monitoring Plus+. The pricing page shows what each one includes.

Ask AI about your Facet accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my Facet accounts and everything else, and how is it allocated?"

• "What am I paying in fees across all of these accounts, including Facet's flat fee?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Link up to 10 connections, per Truthifi platform data on the pricing page. Plans and limits are on the pricing page → truthifi.com.

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FAQ

Is Facet a fiduciary? Yes. It's a registered investment adviser (CRD #285961), so it owes a fiduciary duty when it advises you. Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer, which points to the adviser standard governing its advice.

What does Facet charge? Facet charges a flat annual membership fee, generally $2,600 to $10,000, billed quarterly or annually in advance, and investment management is included in that fee. There is no minimum to become a member. Investment accounts other than the High-Yield account require a $500 minimum initial purchase. Source: its Form CRS (October 2, 2026). The full fee schedule is in its Form ADV Part 2A.

Who owns Facet? Facet (formerly Facet Wealth, Inc.) is a venture- and private-equity-backed firm. Per its Form ADV, funds affiliated with Warburg Pincus hold a greater-than-25% ownership interest, Durable Capital Partners holds an interest, and co-founders Anders Jones (CEO) and Patrick McKenna each own more than 5%.

Does Facet have complaints or disclosures? Its Form ADV answers No to the firm-level disciplinary-history questions. Its Form CRS answers Yes to "Do you or your financial professionals have legal or disciplinary history?" That question also covers individual professionals, so the Yes most likely reflects individual records rather than the firm. Look up each adviser at Investor.gov, IAPD and BrokerCheck.

Is Facet legit? The firm is registered with the SEC (CRD #285961) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV and Form CRS.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

One number the filings can't give you. Facet's fee is a fixed dollar amount, so its share of your portfolio moves every year even when the bill doesn't. A falling market quietly raises your effective rate, and a rising one lowers it. That shifting percentage, not the sticker price, is the figure worth tracking once you're a member.

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About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.

Read next from the Truthifi blog

• Fee-only financial advisor: costs and how to find one

• What is a fiduciary?

• Are you paying too much? Why that might be the wrong question

• How to ask AI about your real investment accounts

• Robo-advisor vs. human financial advisor: which is better?

• All advisor fact packs on Truthifi

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A note on sources. The facts on this page come from publicly available documents, Facet's SEC filings and its Form CRS, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Facet. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.