Anders Jones - CEO & Co-Founder

Two factors taught me why a company like Facet was so needed and so important.

First, my mother spent most of her career making 401(k) retirement plans more accessible for everyday people, first at Fidelity, later at T. Rowe Price. In her words, she viewed one of the most important things she’d ever done as, “helping millions of Americans save for retirement.” It wasn’t just a job for her, it was a mission. That was a profound lesson for me.

Second, in 2015 the U.S. Department of Labor proposed the Fiduciary Rule, which would have required financial advisors to act in the best interests of their clients. The pushback from the industry was fierce. If this rule was passed, the industry said, eight million households would lose their advisor relationship because their advisor could not afford to both service them and act in their best interests at the same time. This was the industry basically admitting that its business model was to take advantage of clients.