Frequently asked questions
Financial planning
What is financial planning?
Financial planning is an approach to managing your money that helps you build and protect wealth while working toward your goals. With a professional financial planner, you can create a personalized roadmap that covers all aspects of your financial life — from managing day-to-day expenses to investing for the long run.
While financial planning guidance might sound expensive, getting started won’t cost you an arm and a leg. We believe in flat-fee financial planning that gives you access to expert guidance without any hidden costs or commission-based sales pitches.
With Facet, you’ll work with experienced CFP® professionals who’ll guide you through everything from budgeting and investing to tax planning. Ready to take control of your finances?
Get started today with a plan tailored just for you.
Who needs financial planning?
Here’s the truth: financial planning isn’t just for the wealthy — it’s for anyone and everyone who wants to make smart decisions with their money. Whether you’re just starting your career, thinking about buying your first home, or exploring investing in real estate, having a financial advisor in your corner can help you understand and manage important money decisions with confidence.
Take our quick financial wellness quiz to see how a personalized financial roadmap could benefit you.
When should I start financial planning?
The best time to start financial planning is now! Life moves quickly, and a solid financial roadmap helps you prepare for expected milestones and unexpected changes. The earlier you start, the more time your money has to grow and work for you.
Whether you’re in your first job or established in your career, each stage of life brings unique opportunities to grow and protect what matters to you. Starting early gives you more flexibility to adjust your strategy as life evolves, whether that means saving for a down payment, planning for a growing family, or working toward financial peace of mind.
Plus, getting started sooner means you’ll have a trusted advisor by your side during major life decisions — like negotiating a job offer, understanding your equity, or figuring out the smartest way to pay for a wedding. Our financial planning services help you stay on track through all of life’s twists and turns, not just the ones you can see coming.
Check out our investment philosophy to learn how we approach long-term wealth building.
Can a financial advisor help me prepare for retirement?
While retirement planning is a crucial part of what we do, working with a financial advisor goes way beyond just planning for your golden years. Our approach touches every facet of your financial life — from maximizing your employee benefits to managing student loans, creating tax-efficient investment strategies, and building generational wealth. Our CFP® professionals work with you to create a comprehensive roadmap that adapts as your life evolves.
What's the difference between a traditional financial advisor and an online financial advisor?
Traditional financial advisors often require in-person meetings during limited office hours and typically charge a percentage of your investments. An online financial advisor, on the other hand, offers modern convenience with the same expert guidance.
At Facet, you’ll work with CFP® professionals — the highest certification in the industry — who are available when and where you need them through unlimited messaging and virtual meetings.
Plus, our transparent pricing means you’ll never wonder if your advisor recommends investments based on commissions rather than your best interests.
What is a CFP® Professional?
A CFP® professional (CERTIFIED FINANCIAL PLANNER™ professional) is the gold standard of financial planning certifications. As fiduciaries, they are held to the highest standards by the CFP® Board to always do what is in the best interest of the whom they’re advising. While all registered investment advisors are Fiduciaries, at Facet, you will be working with CFP® professionals supported by a team of experts (specializing in tax, insurance, estate planning, equity compensation, and more) to cover all of your money needs.
What is a fiduciary?
A fiduciary holds a legal and ethical relationship of trust with the person whom they’re serving. Therefore, a fiduciary is legally obligated to only make recommendations in the best interest of each person they are giving advice to. Like all SEC-registered firms, all of the CFP® professionals at Facet are fiduciaries on behalf of our members.
How do I know I’ll be getting the best advice?
Ensuring our members get the best possible advice is why we created Facet. Here’s how we do it:
We charge a flat membership fee.
We believe you can only get unbiased advice when you pay a flat fee. When a planner or advisor charges your planning fee based on your assets or earns a commission from something they’ve sold you, their advice is clouded by how they get paid. We made the decision to remove all possible conflicts of interest by charging only a flat membership fee.
All of our planners are CFP professionals® and fiduciaries.
Our planners are held to the highest possible standards in financial planning and are legally and ethically bound only to do what’s in the best interest of their members.
About Facet
Where is Facet located?
While Facet is headquartered in West Palm Beach, Florida, we have planners located throughout the US that meet with our members via video call (and our members are located in all 50 states!).
How much does Facet cost?
We charge a flat membership fee based on the complexity of your situation. Unlike many financial planners, we do not charge based on the amount of money you invest with us (known as assets under management or AUM), nor do we charge commissions. We believe unbiased advice can’t exist when your planner or advisor is incentivized to sell you a product or keep your assets in a particular account.
What is the sign-up process like?
Our sign-up process is simple. It’s designed to help us learn more about you and your needs, so we can show you how Facet’s unbiased financial advice benefits every facet of your life.
To get started, fill out this form, and a Facet expert will call you within 24 hours to schedule an introductory call (or you can call 1-888-339-5536 to speak with someone now). They’ll take the time to learn more about your whole financial life, understand your needs, and explain how Facet can help elevate your specific situation
Why Facet
Why should I choose Facet?
In an industry saturated with fees, confusing jargon, and cookie-cutter solutions, Facet exists to make financial planning affordable, accessible, and personalized.
Affordable: With our flat-fee membership options and commission-free approach to investing, we’re helping you keep money in your pocket so you can spend it on the things that matter most to you.
Accessible: Financial planning can be complicated enough as it is, without all the fancy jargon and hard-to-understand processes. With knowledgeable, objective CFP® professionals, intuitive technology and ongoing support, we’re making financial planning simple. (As it should be.)
Personalized: There is no one-size-fits-all approach to planning because there is no such thing as a “standard member.” We take the time to understand our members’ individual needs, dreams and priorities to develop plans that help them achieve success by their unique definition of the word.
I can do this myself, why do I need a financial planner?
While you may feel confident handling financial tasks independently, a financial planner offers expertise, objectivity, and comprehensive planning that go beyond task completion. Our CFP® professionals provide tailored advice, save you time, manage risks, and adapt your plan to changing circumstances, ensuring your long-term financial wellness and peace of mind.
What happens if I want to cancel my membership?
All of Facet’s memberships are annual and non-refundable. If you choose to cancel your membership, you will be responsible for any outstanding balance, and will retain access to your planner and services for the remainder of the term.
Can my spouse or partner join under my membership or do they need their own?
You and your spouse or partner can use the same membership.
How can Facet manage my investments as part of my membership when others charge a fee?
We’re able to include investment management as part of your Core, Plus, or Complete membership because we believe in a transparent and member-centric approach to financial planning. To us, managing a $100,000 portfolio isn’t much different than managing a $1,000,000 portfolio—so why would we make our members pay more? By structuring our services this way, we prioritize your financial well-being over transaction-based fees.
Watch this video to learn about how Facet could bring value to your investing strategy.
Facet's member experience
How does Facet meet with me?
We meet with you via videoconference or telephone, always at your convenience.
What happens when I have a question? How do I get in contact with someone?
Every Facet membership includes unlimited access via messages to a CFP® professional. Our team of experts are here to help answer your questions and provide detailed insights on topics like investments, retirement planning, cashflow, debt, and more.
Can Facet help me pick my employee benefits?
Absolutely. We are here to help with every money decision. We are there for you for each and every individual enrollment period.
Can Facet help me with my equity compensation/stock option plan?
Of course. Your Facet planner works with a team of experts, including an equity compensation specialist that analyzes and consults on the tax impact these plans may create. The equity compensation specialist will work with your Facet planner to determine how they affect the rest of your portfolio to set up the best plan for you. We consult on all parts of your financial life – not just the money you’ve entrusted us to manage directly.
How often will I meet my CFP® Professional?
Our goal is for you to never feel alone while navigating an important financial decision or life change. That’s why your membership includes unlimited access to a CFP® professional via our messaging feature. Additionally, in your first year with Facet, you’ll have up to four virtual meetings with a CFP® professional to discuss your goals and plan. Each year after, meeting frequency varies with your specific membership plan.
How do I get started?
Click here to schedule a quick introductory call with Facet. Or, to speak with someone now, call 1-888-339-5536.
Investing with Facet
How does Facet think about managing money?
We believe investing works best when paired with an ever-evolving financial plan that covers your entire life (which is also why we include investment management for all members as part of their membership). Your unique situation always guides your investment strategy at Facet. Once we understand you and your personal situation, we focus on the areas we can control- minimizing fees and taxes, maintaining a well-diversified portfolio, and balancing for any given environment. For more information on our approach to investing, see our Investing with Facet page.
What is the process of moving money to Facet?
After confirming we have the information we need to move your money over, you’ll be guided on next steps directly within your Facet account. There, you’ll open your new investment account and kick-off the process to move money over, which typically takes about five minutes to complete. After this, we’ll take care of the heavy-lifting. From there, we’ll notify you once we receive your money and get it invested in line with your planning strategy. If you have questions, our support team is always happy to help, just reach out to [email protected].
How does Facet manage my investments?
We’ll handle day-to-day portfolio rebalancing, make trades, update your investments based on market conditions, perform tax-loss harvesting, and more. We expect your life, and priorities, to evolve over time, sometimes unexpectedly. When it does, we’ll work with you to adjust your strategy to maintain your progress and achieve the outcomes that enable you to live a fulfilling life.
What makes investment management at Facet different from other firms?
There are two main ways that investment management at Facet is different from other firms:
Our investing philosophy is centered on the idea that the best investing strategy starts with you and your circumstances. Investing money without a clear purpose or intention can only take you so far–that’s why investment management is always linked to your personalized, ever-evolving financial plan that you create with your CFP® Professional at Facet; and why it’s included in your membership.
The tools and methodology we use on behalf of our members are typically reserved for ultra-wealthy investors or even big pensions, foundations and endowments. Our Investment Committee, led by our Head of Investments, Tom Graff, have over a hundred years of combined industry experience doing this for others and have brought that expertise to Facet.
What makes investment management at Facet different from a robo advisor?
There are two of the primary ways investing at Facet is different from a typical robo advisor:
We start with the big picture. Robo advisors typically don’t offer meaningful financial planning advice, or if they do, it isn’t customized to all of the details and nuances in your life. Facet starts understanding how best to align your investing goals with the broader vision of the life you want to live.
What you pay. Robo advisors generally charge a percent of your assets under management, or AUM. In some cases, this can make them inexpensive when your balances are low, but it means they will be charging you more and more as your money grows. Further, if they are tied to specific firms, the algorithm is often incentivized to recommend its own products. Not only does Facet charge a flat membership fee that does not increase as your money grows, but Facet has no products to sell, and is only focused on recommending the best investments for your personal situation.
What does Facet bring to the table that’s different from what individual investors can do?
Investing isn’t like hanging a photo or fixing a leak in your sink. The consequences of getting investment management wrong can be catastrophic, which is why we have a team of experts who are dedicated to managing our members’ money in alignment with their personalized, ever-evolving financial plans.
Another advantage of using Facet for investment management is our access to techniques often used by professionals serving ultra-wealthy investors, endowments, foundations, and pension funds. This is what enables our experts to analyze performance statistics, look at customized sector allocations, perform factor analysis, and stress-test our funds in ways that individuals are rarely able to.
What types of investing strategies are available at Facet?
We build our core portfolios with exchange-traded funds (ETFs) which is like a basket of stocks or bonds that you can buy or sell just like a single stock, and depending on your membership plan and goals, we also offer advanced investment strategies like Direct Indexing and Alternative Income investments.
Direct Indexing allows for more sophisticated tax-loss harvesting to help reduce what you own in capital gains taxes, with the goal of keeping more investment profits. Alternative Income is a strategy that diversifies your portfolio, opening the door to private market opportunities and the potential for enhanced returns.
Can Facet help with my 401(k)?
Yes. We believe investing works best when paired with an ever-evolving financial plan that covers your entire life (which is also why we include investment management for all clients as part of our base membership). We always incorporate accounts that aren’t directly managed by Facet into your strategy. This includes most account types, including employer sponsored accounts like 401ks & 403bs. While we can’t make trades or adjustments for accounts we do not manage, we’ll still recommend optimizations you can make to ensure these accounts are aligned with your strategy.
Can Facet help me with my IRA and brokerage account?
Yes, investment management is included as part of your membership.
Can I manage my own money and work with Facet?
Most members trust Facet to manage their money. We do have some members who still enjoy managing their investments and self-manage a portion of their money, while taking advantage of Facet’s expertise to manage other accounts. Regardless of what works best for you, you’ll always have oversight of your money and direct access to your accounts.
Can Facet help with accounts that it doesn’t directly manage?
Yes. We always incorporate accounts that aren’t directly managed by Facet into your strategy. This includes most account types, including employer sponsored accounts like 401ks & 403bs. While we can’t make trades or adjustments for accounts we do not manage, we’ll still recommend optimizations you can make to ensure these accounts are aligned with your strategy.
Most members choose to have Facet manage their investments because it’s already included in their membership fee. Taking advantage of investment management at Facet also opens the door to automated rebalancing, tax-loss harvesting, proactive portfolio adjustments based on economic conditions, and other services we can’t provide for accounts we don’t manage.
Does Facet handle Tax-Loss Harvesting? What is it and how does it work?
Yes, we perform Tax-Loss Harvesting (TLH) for all member accounts managed by Facet. TLH is a strategy we use to reduce capital gains taxes by strategically selling securities at a loss, and proactively rebalancing your portfolio to maintain risk levels that are most effective for your circumstances.
What fees does Facet charge for investment management?
Facet offers flat-fee planning memberships that don’t change based on how much you invest and earn, however, our custodians may charge fees that will be deducted from your account.
You can view a full list of potential custodial costs under the “Investment management” section of our legal page and for more information about Facet’s approach to investing, watch this video.
Facet’s specific investment management services vary depending upon the chosen service level.
What is the value of investment management while markets are down1?
Down markets happen. Our experts design our portfolios with the aim of performing reasonably well when markets are up, and minimize losses when markets are down. While this approach doesn’t allow us to sidestep down markets, it does allow us to be prepared to take advantage when markets turn around.
What does an investment advisor do?
An investment advisor helps you decide how to put your money to work. They take the time to understand your financial situation and goals, creating a personalized roadmap to help grow your wealth over time. While some advisors concentrate on investments, others provide a broader, more holistic approach.
At Facet, our investment advisors, who are CFP® (certified financial planner) professionals, look at your whole financial picture. They’ll help create an investment strategy that fits your life and goals while considering important factors like taxes, risk tolerance, and timeline. Our investment philosophy centers on evidence-based strategies that put your interests first.
How much money do I need to start investing?
Here’s the great news – you don’t need a huge sum to begin investing! While many traditional investment advisor services require tens of thousands of dollars or more in assets (like savings, stocks, and real estate) just to get started, Facet has no minimum asset requirement because everyone deserves access to professional financial guidance, regardless of their account balance.
Whether you’re starting with $100 or $100,000, what matters most is taking that first step.
Ready to explore how we can help? Get started with a quick chat to learn more about our approach.
When should I start investing?
The simple answer? As soon as possible! Time is one of your biggest advantages when it comes to investing. The earlier you start, even with small amounts, the more time your money has to grow through compound interest.
Think of it this way: Every year you wait is a year of potential growth you can’t get back.
Not sure where you stand financially? Take our financial wellness quiz to better understand your current situation and next steps.
What is investment diversification, and why is it important?
Diversifying your investments means spreading your investments across different types of assets – stocks, bonds, real estate investing, and more – to help reduce risk while potentially improving returns.
A well-diversified investment strategy helps protect you from the ups and downs of any single investment. When one area of your portfolio isn’t performing well, another might be thriving.
What's the difference between active and passive investing?
Active investing is where you try to beat the market by regularly buying and selling assets. This type of investing can be exciting but often leads to higher fees and doesn’t consistently outperform the market over time.
On the other hand, passive investing takes a more steady approach. Instead of trying to time the market, passive investors typically buy and hold diverse investments that track market indexes. This strategy often results in lower fees and has historically provided reliable returns over the long term.
At Facet, our investment philosophy combines the best of both worlds. We use evidence-based strategies to help you build a portfolio that aligns with your goals, whether you’re looking to plan for retirement or save for a down payment. We keep our membership cost fixed while ensuring your investment strategy stays on track through regular reviews and rebalancing.
Remember, investing doesn’t have to be complicated or intimidating. With the right guidance and a clear strategy, you can build a portfolio that works toward your goals while helping you sleep better at night.
Financial Wellness
What is financial wellness?
Financial wellness is more than just having money in the bank — it’s about feeling confident and in control of your money. It’s the sweet spot where your daily money management, long-term goals, and peace of mind all come together. A solid financial wellness plan helps you handle everything from everyday expenses to those big life dreams while keeping stress levels in check.
Just like physical wellness isn’t just about the number on your scale, financial wellness isn’t just about your bank balance. It’s about creating a healthy relationship with money that lets you sleep better at night and wake up excited about your possibilities.
When you’re financially well, you’re not constantly checking your account balance or stress-shopping at 2 AM — you’re confidently making money moves that align with your values and goals.
Why is financial wellness important?
Money impacts pretty much every part of our lives. When you have your finances in order, you’re better prepared for unexpected expenses, and you’re setting yourself up for less stress and more options in life.
Financial wellness helps you make smarter financial decisions, whether diversifying your investments or saving for a home. It’s about creating a lifestyle where money works for you, not against you.
Think about how many daily decisions involve money: your morning coffee, where you live, what you eat, how you get around, and what you do for fun. When you’re financially well, these choices become opportunities rather than sources of stress.
How can I improve my financial wellness?
How can a financial planner help me achieve financial wellness?
Are financial wellness services only for people with a high income?
Absolutely not! Everyone deserves access to financial wellness support, regardless of their income level or where they’re starting from. Whether you’re just beginning your career, dealing with student loans, or already have some investments under your belt, there’s value in getting expert guidance.
We believe in making professional financial guidance accessible to everyone who wants to level up their money game.
Retirement Planning
What is retirement planning, and why is it important?
Retirement planning is how you build a comfortable life after you stop working.
When you work with a financial planner, you can create a personalized financial roadmap for saving, investing, and managing your money in ways that let you live the retirement lifestyle you want. Working with experienced retirement planning services can help you figure out everything from investment choices to tax strategies.
The truth is, your retirement will likely look totally different from your parents’ or grandparents’. People are living longer, pension plans are rare, and Social Security might not cover all your needs. Having a good plan in place puts you in control of your retirement story instead of leaving things to chance.
When should I start planning for retirement?
Right now! The sooner you begin retirement planning, the more options you’ll have later. Starting early gives your money more time to grow through compound interest (basically, earning returns on your returns). Those contributions add up over time, even if you can only save a small amount each month.
If you’re feeling behind, don’t worry. A financial advisor for retirement planning can work with you to create a strategy that works for where you are today. They’ll help you understand your options and make the most of tools like catch-up contributions for your 401(k) or IRA.
How much money do I need to retire comfortably?
- Your desired lifestyle in retirement
- Where you plan to live
- Expected healthcare costs
- Whether you’ll still have a mortgage
- How you want to spend your time (travel, hobbies, family)
Should I pay off debt or save for retirement?
- First, capture any employer match on your retirement accounts (it’s free money!)
- Then, tackle high-interest debt like credit cards
- Finally, balance additional retirement contributions with paying down lower-interest debt
How do I adjust my retirement plan if my goals change?
Life happens, and your retirement plans should evolve with it. Maybe you’ve changed careers, welcomed a new family member, or discovered a passion you want to pursue in retirement. Whatever the reason, it’s totally normal to redirect your retirement plan.
The key is staying flexible and regularly reviewing your strategy with a professional who understands both the technical aspects of retirement planning and your personal goals.
Ready to take the next step? Get started with creating a retirement strategy that works for you.
Insurance Planning
What is insurance planning, and why is it important?
Insurance planning protects what matters most to you. Think of it as a safety net that catches you when life throws unexpected curveballs your way. While nobody loves thinking about worst-case scenarios, having the right insurance can make a difference when you need it most.
At Facet, we believe insurance planning services should be part of your comprehensive financial roadmap. Just like you wouldn’t build a house without a foundation, you shouldn’t build wealth without protecting it first.
Take our financial wellness quiz to see where you stand and what coverage gaps you might have.
What types of insurance should I consider?
The types of insurance you should consider depend on your unique situation, but here are some categories to think about:
- Life insurance: Ensures your loved ones maintain their standard of living and can cover expenses if you’re no longer there to provide for them.
- Health insurance: Helps cover medical expenses and preventive care. With healthcare costs rising, this is non-negotiable.
- Homeowners insurance: Protects your home and belongings. If you’ve got a mortgage, it’s required, but it’s wise to have it regardless.
- Disability insurance: Keeps money coming in if health issues prevent you from working.
Travel insurance: Protects your trip investments and covers medical emergencies while you’re away from home. It may be beneficial for international travel or expensive trips.
Can Facet help me review my current insurance policies?
Absolutely! Our advisors love getting into the details of your existing coverage to make sure it actually fits your needs. We’ll help find any gaps or areas where you might be overinsured (yes, that’s a thing!).
We look at insurance differently than traditional advisors. While old-school firms might push specific products, we focus on finding the right coverage for your unique situation. Check out our investment philosophy to see how we approach financial planning differently.
How often should I update my insurance planning?
Life changes, and your insurance needs should change with it. We recommend reviewing your coverage annually or whenever you experience a major life event like:
- Getting married or divorced
- Having a baby
- Buying a home
- Starting a business
- Getting a significant raise or changing jobs
These milestones often mean it’s time to adjust your coverage. Our team can help you handle these changes while keeping an eye on both investing and retirement planning goals.
How can I make insurance more affordable?
Nobody wants to overpay for insurance, and there are smart ways to keep costs in check without sacrificing protection:
- Bundle policies: Package different types of coverage with the same company to score better rates.
- Adjust deductibles: Choosing a higher deductible usually means lower premiums, but make sure you can comfortably cover that amount if needed.
- Regular policy reviews: As your life changes, so do your insurance needs. Scheduling regular check-ups helps ensure you’re not wasting money on outdated coverage.
- Shop around: Different insurers often charge different rates for the same coverage. We can help you compare options.
- Consider employer benefits: Take full advantage of any group insurance offerings through work, which are often cheaper than individual policies.
Ready to get your insurance planning on track? Get started with Facet today and work with experienced CFP® professionals who understand that protecting your wealth is just as important as growing it.
Remember, good insurance planning doesn’t mean you need to buy every type of coverage out there — you just need to find the right mix to protect what matters most to you while keeping costs reasonable. We’re here to help you find that balance.
Tax planning & Filing
What is tax planning, and why is it important?
Tax planning means looking ahead at your financial decisions to help you save on taxes throughout the year — not just at tax time. A tax advisor can help you make smarter choices about your money while making sure you’re following all the tax rules.
With tax planning, you have a professional in your corner who knows everything about the tax code so you don’t have to. They can help you find opportunities to save money you might miss on your own, whether through deductions, credits, or timing your income and expenses just right.
Want to see how our team approaches this? Check out our investment philosophy, or get started with a personalized plan today.
Is tax planning only for high earners?
No way! Whether you’re making six figures or just starting your career, tax planning services can help you keep more of your hard-earned money. A solid tax strategy can benefit anyone who wants to be smarter about their finances.
Even saving a few hundred dollars in taxes each year adds up over time — that’s money you could invest, save, or use for something important to you.
Not sure where you stand? Take our quick financial wellness quiz to find out.
What changes in my life should prompt a tax strategy review?
Lots of life changes can affect your taxes. Here are the big ones:
- Getting married or divorced
- Having a baby or helping out aging parents
- Buying or selling your home
- Switching jobs or getting a promotion
- Starting a business
- Getting an inheritance
- Moving to a new state
Each of these situations might mean you need to adjust your tax approach. A financial advisor who assists with tax planning can help you manage these changes and find opportunities to save. Plus, they can help you plan ahead so you’re never caught off guard by unexpected taxes.
If you’re running a business, our guide to small business tax has some helpful pointers.
How can a financial planner help maximize the tax advantages of retirement savings?
Your planner can help you make smart choices about retirement savings that could save you money both now and later. They’ll help you figure out:
- Whether to go with a traditional or Roth IRA (it’s not one-size-fits-all)
- How much to put in your 401(k)
- Where to keep different types of investments to make the most of tax advantages
- When to take money out of retirement accounts to minimize taxes
- How Social Security affects your taxes (yep, it might be taxable)
- Ways to reduce taxes when you’re actually retired
Want to learn more? Check out our retirement planning page for the full scoop.
Can a financial planner help with estate planning?
A good financial planner can help make sure more of your money goes to your loved ones instead of taxes. They can help with things like:
- Finding smart ways to give money to family without triggering gift taxes
- Integrating trusts into your overall financial plan
- Making charitable donations work harder for your tax situation
- Planning what happens to your business when you retire
- Using life insurance effectively as part of your overall strategy
- Timing distributions to minimize tax impact
Understanding inheritance tax is important if you want to pass on wealth to your family. We suggest pairing this with solid insurance planning to protect everything you’ve built. Working with a tax advisor now can save your family from headaches later.
Does Facet offer tax guidance for small business and rental property owners?
While we don’t do business planning, we are experts in personal financial planning for business owners. A key part of our integrated tax offering is ensuring your business – including real estate investments – is structured to be as tax-efficient as possible for your personal financial plan. Your dedicated planner works directly with our in-house team of tax professionals to help you analyze the tax impact of big decisions, including:
- Analysis on the tax impact of an LLC vs. S Corp
- Analysis of the tax impact of a purchase or sale of a business
- Guidance on small business retirement plans (like a SEP IRA or Solo 401k)
- Rental property tax deduction optimization, including depreciation strategies and recommendations for cost segregation studies.
What are Facet's new tax filing services?
We offer two integrated tax filing solutions to provide the level of expert support that’s right for you:
- Online filing, tax expert-reviewed: This option is perfect if you’re comfortable preparing your own taxes but want the peace of mind of a professional safety net. You’ll use intuitive software to prepare your return, and then a tax expert will review it for accuracy and potential savings opportunities before you file. This is is included with our Plus Membership.
- Start to finish prep and filing by a tax expert: This is our hands-off, premium solution. It’s ideal if you have a more complex tax situation (like a small business or rental properties) or if you simply want an expert to handle the entire process for you, from start to finish. This is is included with our Complete Membership.
How does tax filing at Facet work?
Our process is designed to be simple and seamlessly integrated into your Facet experience.
- For online filing, tax expert-reviewed: You’ll start by preparing your return at your own pace using intuitive software. When you’re finished, you’ll submit it, and a dedicated tax professional will review your return for accuracy and opportunities. You can ask questions during the review process and have an optional call with a tax expert to discuss the results before you file.
- Start to finish prep and filing by a tax expert: The process starts with you securely uploading your tax documents to our portal. You’ll have the option to schedule a kick-off call with a certified tax professional to discuss your situation before they begin. From there, your tax expert takes over, preparing and optimizing your entire return. They will notify you when it’s ready for your final review and approval, and then they will file on your behalf.
No matter which option you choose, the tax filing process is the starting point for the year ahead. Key data from your completed tax return feeds directly into your financial roadmap, allowing your planner to see even more of your financial picture and making it even easier to help you make smarter and more tax-efficient decisions going forward.
Who is April Tax Solutions?
April Tax Solutions is our trusted partner that powers the Facet tax experience. They are an industry leader in tax preparation and filling and are an official IRS-authorized e-file provider, which allows us to offer a best-in-class service.
However, your experience will be completely integrated within the Facet platform. You will not need to create a separate account, remember another password, or navigate to a different website. We handle the integration on the back end to provide you with a single, seamless experience.
Why should I file my taxes with my financial planner?
Filing your taxes with Facet transforms tax prep from a reactive, once-a-year chore into a proactive, year-round strategy. For too long, tax filing has been disconnected from long-term financial planning. When your planner and your tax preparer are on the same team, we can ensure that every financial decision you make – from how you manage your investments to how you save for retirement – is done in the most tax-efficient way possible. It’s an important piece of a truly comprehensive financial plan.
How do I know which tax filing service is right for me?
Facet can help you make the best choice, but here’s a general guide:
- The online filing, tax expert-reviewed service is a great fit if you have a moderately complex situation (e.g., you itemize deductions or have investment sales) and want the confidence of a professional review.
- The full-service certified tax professional filing is ideal if you have a more complex situation (e.g., a small business, rental properties, or K-1s) or if you simply prefer to delegate the entire process to an expert.
What do the "Maximum Refund" and "Accuracy" guarantees* mean?
These guarantees are offered through our partner, April, to give you complete peace of mind.
- Maximum Refund Guarantee: If you get a larger refund or smaller tax due with another tax prep method, April will refund the applicable fees you paid.
- Accuracy Guarantee: If there is an error in the April software that results in a penalty from the IRS, April will reimburse you for the penalty and associated interest.
Why don’t I get guarantees with the online filing, tax expert-reviewed service?
The guarantees are tied to who is legally responsible for preparing and signing your tax return.
With our start to finish prep and filing by a tax expert, our partner’s certified tax professional is the official preparer and signs the return, taking on the professional responsibility for its accuracy. With the online filing, tax expert-reviewed service, you are still the official preparer of your return. A tax expert provides a professional review and expert guidance, but because they are not preparing the return from scratch, they cannot legally sign it as the preparer and extend the same guarantees. This distinction is what allows us to offer this valuable review service at a more accessible price point.
Family Planning
What is family financial planning?
Family financial planning helps you create a roadmap that adapts as your family grows and changes. Think of it as your family’s money game plan — it covers everything from day-to-day budgeting to long-term wealth building, all tailored to your unique family situation.
At Facet, we understand that managing family finances isn’t a one-size-fits-all process. Our approach to financial planning for families focuses on what matters most to you, whether that’s saving for a house, a new baby, getting married or divorced, or caring for an aging parent.
Ready to take the first step? Get started with a personalized consultation.
What are the benefits of financial planning for families?
A solid family financial planning strategy helps you confidently deal with expected and unexpected life changes. Here’s what working with a dedicated financial planner can do for your family:
- Create a clear spending and saving strategy that matches your family’s values and goals
- Help you make decisions about insurance coverage and protection for your loved ones
- Guide you through important financial decisions around raising a child or caring for aging parents
- Provide expert guidance on education planning and estate planning to secure your family’s future
Want to see where you stand? Take our financial wellness quiz to get a snapshot of your current financial health.
How much should my family have in an emergency fund?
While the standard advice is to save 3-6 months of expenses, we believe your emergency fund should reflect your family’s specific circumstances. Consider factors like:
- Number of income earners in your household
- Job stability and industry
- Health considerations
- Size of your family
- Monthly fixed expenses
Our advisors can help you determine the right emergency fund size based on your unique situation and incorporate it into your broader financial planning strategy. Learn more about our investment philosophy and how we approach family financial planning services.
Do you help with planning for major life events?
Absolutely! Whether you’re preparing for a new baby, buying a home, or helping your parents transition to retirement, we’re here to help you manage these significant milestones.
Our experienced CFP® professionals specialize in breaking down complex financial decisions into manageable steps, ensuring you feel confident about each choice along the way.
Can you help us save for multiple goals at the same time?
Yes! We excel at helping families balance multiple financial priorities. Whether you’re trying to save for a down payment while building your emergency fund or juggling retirement savings with college funds, we’ll help you create a roadmap that works for all your goals.
We’ll help you:
- Prioritize your goals based on timeline and importance
- Determine how much to allocate toward each goal
- Choose the right accounts and investment strategies for each objective
- Track your progress and adjust as needed
Remember, successful family financial planning isn’t about choosing between goals — it’s about creating a balance that helps you work toward all of them. We can help you develop a customized plan for your family’s unique needs and aspirations.
Education Planning
What is education planning, and why is it important?
Education planning is how you handle one of the biggest investments you’ll make for your kids or yourself. Having a solid education savings plan doesn’t just mean stashing money away for college; it’s about creating real opportunities for your children while keeping your finances healthy.
Here’s the thing about planning for education: costs are always going up, but when you plan ahead, you give yourself options. Instead of that sinking feeling when the first tuition bill hits, you can face it with confidence.
When should I start saving for my child's education?
Don’t wait! Education planning gets so much easier when you give yourself plenty of leeway. Starting early means your money has more time to grow through investing, and you can contribute smaller amounts each month instead of trying to scramble later.
Some parents start saving even before their little one arrives. But if you’re reading this and thinking, “Yikes, I should’ve started already,” don’t worry. It’s never too late to begin, and we can help you create a roadmap that fits your timeline.
Want to know where you stand? Take our financial wellness quiz for personalized insights.
What are the best savings options for education?
Let’s break down your main options for education savings plans. Each has its perks, and the right choice depends on your specific situation:
- 529 college savings plans: These are education-specific investment accounts with tax perks. When used for qualified education expenses, your money grows tax-free, and many states throw in extra tax benefits.
- Coverdell education savings accounts (ESAs): These work similarly to 529s but can also be used for K-12 expenses. They have lower contribution limits, but more flexibility isn’t a bad thing.
- Custodial accounts (UGMA/UTMA): This is the choose-your-own-adventure of education savings. These funds can be used for anything, not just education, but they don’t come with the same tax benefits as 529s or ESAs.
- Savings bonds: These are the slow-and-steady options. Series EE and I bonds can be tax-free when used for education, making them a great low-risk choice.
At Facet, we look at your whole financial picture. Check out our guide to managing your finances through all of life’s stages to see how education savings fits into the bigger picture.
What is a 529 plan, and how does it work?
A 529 plan is a tax-smart investment account with education benefits. Your money grows tax-free, and when you use it for qualified education expenses, you won’t pay taxes on the withdrawals either. These expenses can include:
- College tuition and fees
- Books and supplies
- Room and board
- Computer tech for school
- Up to $10,000 yearly for K-12 tuition
You can open one of these accounts in any state, regardless of where you live or where your child might go to school. Each state offers different investment options and potential tax benefits for residents.
Why work with Facet for education planning?
We do things differently at Facet. Our approach to education and family planning isn’t about pushing generic solutions — it’s about understanding what matters to your family and creating a roadmap that fits your life.
Unlike traditional advisors who might focus solely on education savings, we look at how everything fits together. Our investment philosophy is built on smart, evidence-based strategies that help you save for education while keeping your other financial goals on track.
Ready to create an education savings plan that actually makes sense for your family? Get started with Facet today. Let’s build something that works for you. No cookie-cutter solutions, just real planning for real life.
Estate Planning
Why do I need an estate plan?
Having an up-to-date plan in place to protect your health, your wealth, and your loved ones should be a foundational element of any ongoing plan for your money. It’s just as important to protect your money as it is to grow it and use it well in support of the life you want for you and your family.
Having an updated estate plan is crucial because it allows you to establish a plan for where your money and other assets go, who takes care of your loved ones and pets, who can make decisions for you if needed, and other important matters.
Without an estate plan, it can take months to several years to settle your estate and create a great deal of stress, and expense, for your family.
What is typically included in an estate plan?
An estate plan isn’t just one document. It’s a collection of legal tools that ensure your wishes are respected. Here are the key documents every estate plan should include:
A will
A will is the foundation of your estate plan. It outlines how your assets—money, property, and other belongings—will be distributed after you pass away. You’ll name someone (an executor) who will manage your affairs and file the will in court when you pass, a process called probate. If you have young children, you can also name someone (a guardian) to care for them.
Note: A will doesn’t cover jointly-owned accounts or retirement accounts and life insurance policies with designated beneficiaries. In these situations, the ownership (i.e. titling) or beneficiary designations supersede the will.
Example: Let’s say you have a 401(k) through work and you name a sibling or a parent as the beneficiary. Then, down the road, you get married and start a family, but you forget to update your beneficiaries. If you pass away, your 401(k) will go to the named beneficiary even if your will states that you want this money going to your partner.
A financial power of attorney (FPOA)
An FPOA allows you to designate someone (your “agent”) to handle your financial matters if you’re unable to. They can pay bills, manage investments, and file taxes on your behalf. There are two types:
- One that takes effect immediately, allowing your agent to act even if you’re still able to make decisions.
- One that has a “springing” power that becomes active if you become incapacitated.
Healthcare power of attorney (HCPOA) or advanced directives
An HCPOA names someone to make medical decisions for you (again, your “agent”) if you’re unable to. Without it, medical professionals may make decisions on your behalf without consulting your family. Advance directives are instructions outlining the care you want (or don’t want) in specific situations, such as end-of-life care.
A revocable trust
A trust often sounds more involved than it is. It’s a legal document that explains how you want to manage the things you own (i.e. your property, savings, and investments) after you pass. It helps your family avoid probate, provides privacy, and allows you to control how your money will be managed. And it can be changed or canceled at any time, offering flexibility.
What is the difference between a will and a trust?
The key differences are that a will often goes through probate, and is typically public. A trust is designed to avoid probate, and keeps your info private. The wealth.com trust package includes a 30-minute consultation with a trust and estate attorney through wealth.com’s attorney network at no extra cost.
A will is a legal document that outlines how your assets should be distributed after you pass. It also allows you to name guardians for minor children and appoint an executor to manage your estate. Unless the value of your estate is small enough (which varies by state), most wills go through probate, a court process that can take months or even years. Typically, wills are also part of the public record, meaning anyone can see the details once probate is complete.
A trust, on the other hand, is a legal arrangement where you transfer ownership of your assets to a trustee, who manages them for you or for others based on the terms you set. A trust can take effect immediately and can be used both during your lifetime and after you pass. Unlike a will, a trust is designed to avoid probate, making the process quicker, less costly, and more private.
What are my options for getting an estate plan?
There are multiple options for getting or updating an estate plan, but the most important thing is to have one that’s high-quality and up to date. The best solution usually combines three things: a personalized approach, high-quality work, and affordability (i.e. a fair price).
There are three main options for getting or updating an estate plan:
- Online services: Some online and digital services are inexpensive but offer boilerplate solutions (i.e. they lack personalization) which means they also lack quality.
- Attorneys: In-person attorneys offer personalization, but they can cost you $3,000, if not more. And then you have the task of vetting attorneys. In our opinion, these solutions could be helpful for certain situations but they may not be perfect fits and may have their own drawbacks.
- Online platform backed by attorneys: A self-guided online platform gives you high-quality, state-specific estate plans, backed by experts and attorneys, with customer support when you need it. In our opinion, these are the best estate planning services because they combine personalization, quality, affordability, and an easy-to-use technology platform.
What does having a quality estate plan mean?
A quality estate plan includes all the high-caliber documents you need, is optimized for your state (because laws are different in each state), and is up to date, including proactive monitoring of new and changed laws that can have an impact on your documents.
Here are the risks when you don’t have quality, up-to-date estate planning documents:
- No one to make important decisions: If you’re hurt or sick and can’t make decisions (i.e. you’re incapacitated), there may be no one to make time-sensitive medical decisions or to manage your day-to-day finances. Your family would have to go to court to be appointed as your guardian so they can legally make decisions for you.
- Uncertainty for your loved ones: Without proper instructions, state law and the courts determine how your estate is handled. This means your family may lack clarity and control (and face added stress) during an already trying time.
- A lengthy, and costly, process: Your family could face a lengthy and expensive legal process. Probate typically costs 3-7% of your total estate’s value. This process can also tie up your assets for months, leaving your family in financial limbo.
- No privacy: You generally have to share all of your personal financial information with the courts and that information is made public. The information isn’t proactively shared, but it is made available should someone want to see it.
- Outdated documents: Your plan should evolve as your life, financial situation, and estate laws change. Major events like marriage, divorce, starting a family, buying a home, or moving (especially out of state) all require updates. Without them, your wishes may not be honored, and your documents could become invalid.
Why would I need to update my estate plan once I create it?
Without an updated plan, your wishes may not be honored, and your documents could become invalid.
Your estate plan should evolve as your life, financial situation, and estate laws change. Major events like marriage, divorce, starting a family, buying a home, children reaching 18 years old, or moving (especially out of state), to name a few, all require updates. It’s also important that you proactively monitor new and changed laws that can have an impact on your documents.
You might also simply have a change of heart as life situations evolve, and your estate plan should reflect your most up to date wishes. If you don’t review and revise your plan, your estate could end up in the hands of someone that it is no longer intended for.
Keeping your plan updated helps ensure your latest wishes are respected.
Why work with a financial advisor for estate planning?
Think of estate planning like building a custom home — you could do it yourself, but working with an estate planning financial advisor gives you an experienced architect who sees the whole picture. At Facet, we don’t just help with paperwork — we look at how your estate plan fits into your complete financial roadmap, from retirement planning to investment decisions.
We know that one size definitely doesn’t fit all when planning your legacy. That’s why our investment philosophy is built around creating solutions that actually match who you are and what matters to you. Estate planning ensures your wishes are crystal clear and your loved ones are taken care of exactly how you want.
Equity Compensation
What is equity compensation?
Equity compensation is a way for companies to share ownership with their employees. It’s basically getting a piece of the company pie along with your regular paycheck. Whether you’re dealing with stock options, RSUs, or ESPPs, these benefits can boost your total compensation.
Facet planners and equity compensation specialists* can help you understand and maximize these benefits. We know that making sense of your equity package can feel overwhelming, so we break it down into clear, actionable steps as part of your financial roadmap.
Understanding the type of equity awards you have and the decisions you can make with them is key to taking advantage of your equity compensation plan. That’s why having a knowledgeable partner in your corner can help you maximize the value of your benefits.
How is equity compensation taxed?
Taxes are often the most complex part of equity compensation, but understanding the basics can help you avoid surprises at tax time. Let’s break down the tax implications for different types of equity:
- ISOs (Incentive Stock Options): No immediate taxes when you receive or exercise them. You’ll pay taxes when you sell the shares, though AMT considerations may apply.
- NSOs (Non-Qualified Stock Options): You’ll pay regular income tax at exercise plus capital gains tax when you sell.
- RSUs (Restricted Stock Options): These are taxed as regular income when they vest, with any subsequent gains taxed as capital gains.
- ESPPs (Employee Stock Purchase Plans): You’ll pay income tax on the discount received, plus capital gains tax on any appreciation.
Each of these award types may have different holding period requirements to optimize for tax efficiency. At Facet, we help you understand and manage these tax implications as part of our employee benefits planning for Plus and Complete members.
When should I exercise my stock options?
This is where things get personal because there’s no one-size-fits-all answer. The right time to exercise depends on your unique situation, financial goals, risk tolerance, and the company’s potential. Our investment philosophy guides us in helping you make these decisions strategically.
Our equity compensation specialists* look at your entire financial picture, including your retirement planning goals, to help you decide when to exercise your company stock options. We’ll create a strategy that balances potential upside with risk management.
*For Complete members only.
How do I balance equity compensation with overall financial planning?
Your equity compensation is just one piece of your financial puzzle. It’s exciting to have company stock, but it’s crucial to maintain a balanced portfolio. At Facet, we help you integrate your equity compensation into your broader financial strategy.
Take our financial wellness quiz to understand how your equity fits into your overall financial health. Our CFP® professionals will help you create a roadmap that aligns with your goals while managing overall risk.
How do I know the value of my equity compensation?
Many people know their stock’s current price, but that’s just scratching the surface of what your equity is truly worth. Knowing your equity’s value concerns more than simply tracking the current stock price. Facet’s financial planners will help you evaluate:
- Vesting schedules and timelines
- Exercise costs and considerations
- Growth potential and scenarios
Ready to get clarity on your equity compensation? Get started with Facet today. We’ll help you understand your equity’s real value and how to maximize it.
Career Planning
What is career planning?
Career planning maps out your professional path in a way that works for your life, values, and money goals. While traditional career planning services focus on climbing the corporate ladder, modern approaches like Facet look at your whole life — from work-life balance to building wealth.
Career planning considers everything from your ideal work environment to your long-term financial needs, helping you make decisions that serve both your professional ambitions and personal priorities.
Ready to take stock of where you are and where you want to go? Take our financial wellness quiz to see where you stand today.
What are the benefits of career planning?
A smart career plan helps you land better opportunities, earn more, and find work you actually enjoy. Good planning helps you handle decisions about equity compensation, negotiate better packages, and grow professionally.
When you take time to plan your career moves, you’re better equipped to recognize and seize opportunities that others might miss.
Facet’s investment philosophyfocuses on career choices that make you both happy and financially secure. Plus, having a solid career plan gives you the confidence to make bold moves when the right opportunities come along.
What should I consider before making a career change?
A career change isn’t something you should do on a whim. You’ll want to find a company culture and work environment that feels right for you while thinking through any new skills you’ll need to develop along the way.
Consider how your benefits and pay package might change, and make sure the move fits your personal and professional goals. Research industry trends and talk to people already working in your target field.
Understanding the day-to-day reality of your new career path helps you make informed decisions about the transition.
Ready to make sure your finances can support your career move? Get started with a personalized financial roadmap today.
How do career changes affect my retirement planning?
Switching careers can shake up your retirement planning. You’ll need to understand what happens to your retirement accounts at your current job and learn about the retirement benefits at your new workplace.
Consider how salary changes might affect when you can retire, and plan ways to keep your retirement savings on track during the switch. You should also factor in any potential gaps in retirement contributions during your transition period.
You might also need to adjust your investment strategy or increase your savings rate to stay on course. Thoughtful planning keeps your career moves working together with your financial roadmap. Don’t forget to consider ways to catch up if your career change temporarily impacts your retirement savings.
What should I look for in an employer benefits package?
Benefits advisors say there’s more to consider than just health insurance and 401(k) matching. Employers are getting creative with their packages. Look for perks like professional development funds, mental health resources, and flexible work options.
Many companies now offer help with student loans, company equity, and comprehensive wellness programs.
Pay attention to details like vesting schedules, coverage waiting periods, and whether benefits extend to family members.
Some employers offer unique perks like sabbaticals, volunteer time off, or education reimbursement. Take time to understand how each benefit fits into your overall compensation picture. Looking at your whole compensation package helps you make smarter career moves.
How do I align my career goals with my financial goals?
Your career choices and financial goals go hand in hand. You’ll want to figure out what salary you need for your lifestyle and explore which career paths could earn you more over time. Focus on finding jobs with good benefits and room to grow while keeping your skills fresh and marketable.
Having enough savings gives you the freedom to make career moves when you want. Consider how each career step affects your short-term finances and long-term wealth building potential.
Think about opportunities for bonuses, commissions, or equity that could boost your earnings beyond your base salary.
Your career path can change as your goals do. A solid plan helps you make choices that work for both your professional growth and your bank account.
Security
Who owns my data?
Your data will always be yours.
We employ industry best practices to keep your data safe. We will never sell your data.
When it comes to protecting you and your data, we do not believe that simply checking boxes to ensure compliance is adequate. We employ industry best practices to ensure information security is at the core of our technology and business operations, yet strive to set a new standard for bank-level security and privacy.
Why does Facet ask me to "link" my accounts?
While never a requirement, you will be invited to enter your online financial institution credentials. We never see those credentials, nor do we store them. Your credentials are securely passed to your financial institution and we are provided with a read-only feed of balance and transaction information. We do not have access to your money nor can we make any changes to your account. If for whatever reason you want to remove our read-only access, you will be able to de-link those accounts.
Where does Facet store my data?
We host our servers using Amazon Web Services (AWS). All data is encrypted in-flight and at-rest to ensure only the right people view your information for the right reasons: providing you a customized plan for achieving your financial goals. If you have any questions, let us know: [email protected].
How do I get started?
Click here and you're a minute away from scheduling a free, no obligation session with one of our Facet expert.