Facet Wealth raises $33m for financial planning platform

Facet Wealth raises $33m for financial planning platform

Facet Wealth, a financial planning and advice startup targeting US consumers, has raised $33 million in a Series A funding round led by Warburg Pincus.

Baltimore-based Facet is pitching its personalised financial management service to the "mass affluent" population largely ignored by the traditional wealth management industry.

The firm has built a proprietary technology platform that helps it partner with industry incumbents to identify and transition clients who do not fit the "ideal profile".

Patrick McKenna, chairman, Facet, says: "We founded Facet Wealth on the belief that the cost of comprehensive financial planning is too high for millions of Americans who truly need it.

"We are turning the traditional model on its head by harnessing technology to dramatically lower the cost and increase the personalization of our CFP® Professionals’ financial advice for the broader market."

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