LAST CHANCE to get $300 when you invest & maintain $5,000 or more9 Offer expires April 30, 2024
LAST CHANCE to get $300 when you invest & maintain $5,000 or more9 Offer expires April 30, 2024
LAST CHANCE to get $300 when you invest & maintain $5,000 or more9 Offer expires April 30, 2024

Form ADV Part 3
Customer Relationship Summary

Customer Relationship Summary
Facet Wealth, Inc. CRD#285961
January 11, 2024

Introduction

Facet Wealth, Inc. is an investment adviser registered with the Securities and Exchange Commission (“SEC”). Fees for brokerage and investment advisory services differ among broker-dealers and investment advisers and it is important that you understand the differences, which are summarized below. Please visit http://investor.gov/CRS for free, simple tools to research firms and for educational materials about broker-dealers, investment advisers, and investing. Please visit http://investor.gov/CRS for free, simple tools to research firms and for educational materials about broker-dealers, investment advisers, and investing. To help you get more information about our services, you will find “Conversation Starters”in each section below that you should ask our financial professionals, in addition to any other questions you wish to ask.

Relationships and Services

What investment services and advice can you provide me?

Services: We provide financial planning services to retail investors which can include wealth management and investment advisory services. Our financial planning services include risk management and insurance, estate and beneficiary, income tax, employee benefits and trust, cash flow and debt, retirement, and education. We also provide investment management and employer stock plan analysis. If you have assets that we manage, those services are included in the planning fee and our firm has discretionary management without any substantial limitations although we work with you on establishing low cost, diversified portfolios aligned with your long-term goals. Please also see our Form ADV Part 2A (“Brochure”), specifically Items 4 & 7.

Accounts, Investments, and Monitoring: We provide ongoing investment monitoring service to help you stay within our investment guidance. However, we do not try to time the market. Our portfolios are not static; rather, we adjust our mix of holdings to maximize risk/reward in a given environment. Generally, rebalancing is based on how much your asset allocation moves away from your target allocation.

Investment Authority: We provide our services on a perpetual and discretionary basis. We execute investment recommendations in accordance with your investment objectives without your prior approval of each specific transaction. Our engagement will continue unless you notify us in writing.

Account Minimums & Other Requirements: There are no minimums to work with us and, while we don’t charge additionally for it, we don’t require that Members use our investment management service. If a Member opens an investment account, we’ll only invest it if the account has a minimum of $500.

Additional Information: For more detailed information on our relationships and services, please see Item 4 – Advisory Services, Item 13 – Review of Accounts and Item 7 – Types of Members of our Form ADV Part 2A available via our firm’s Investment Adviser Public Disclosure Page.

Conversation Starters:

  • Given my financial situation, should I choose an investment advisory service?
  • Why or why not?
  • How will you choose investments to recommend to me?
  • What is your relevant experience, including your licenses, education and other qualifications?
  • What do these qualifications mean?

Fees, Costs, Conflicts and Standard of Conduct

What fees will I pay?

Fees: Our fees vary depending on the services you require. Our flat fee arrangements are based on the amount of work we expect to perform for you, so material changes in that amount of work will affect the planning fee we quote you. Our fees are non-refundable. If you choose to utilize our investment management services, that is already included in the flat fee quoted and will not result in an increase in your fee. Fees generally range from $2400-$8000 per year on a flat fee basis, depending upon the level and scope of the services required and the professional rendering the service(s). Facet typically bills quarterly or annually, in advance. You will pay our fees even if you do not have any transactions. The planning fee paid to us does not vary based on the type of investments selected.

Situational: There may be a circumstance where we introduce you to a third party to provide services in connection with the implementation of financial planning advice (such as third party services pertaining to the preparation of estate planning documents or the preparation of tax documents), and additional charges for these services may apply.

Other Fees & Costs: Custodians can charge brokerage commissions and/or transaction fees for effecting certain securities transactions or fees related to account processing. The cost for these services may be debited from the Member’s account. Members subject to these fees will be notified at the time of account opening or by direct notification from Facet. In addition to our flat fee arrangement, there may be situations where we provide administrative services for a fee associated with specific agreed upon third party services such as the production of estate planning documents.

Additional Information: You will pay fees and costs whether you make or lose money on your investments. Please also see Items 4, 5, 6, 7 & 8 of our Brochure. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.

Promotions and other possible changes in fees. We will frequently run promotions. Examples of promotions could include: a $250 credit for opening and depositing $5,000 into your account within 90 days of becoming a Member; and waiving your $250 enrollment fee when you choose an annual payment plan, and pay in advance.

Conversation Starters:

  • Help me understand how these fees and costs might affect my investments.
  • If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?

What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?

When we act as your investment adviser, we have to act in your best interest and not put our interests ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice that we provide you. Here are some examples to help you understand what this means.

As a firm, we primarily benefit from the planning fees received from our Members.

Additional Information: For more detailed information, please see Item 10 – Financial Industry Activities and Affiliations, Item 12 – Brokerage Practices and Item 14 – Member Referrals and Other Compensation of our Form ADV Part 2A available via our firm’s Investment Adviser Public Disclosure Page.

Conversation Starters:

  • How might your conflicts of interest affect me, and how will you address them?

How do your financial professionals make money?

As a firm, we primarily benefit from the planning fees received from our Members, referral partners and lead sources. However, our representatives are paid a flat annual salary and bonus based on Member retention and Member satisfaction rather than commissionable product sales or assets under management. This additionally limits any conflicts of interest in product or new account opening recommendations.

Disciplinary history

Do you or your financial professionals have legal or disciplinary history?

Yes. You can visit Investor.gov/CRS for a free and simple search tool to research our firm and our financial professionals.

Conversation Starters:

  • As a financial professional, do you have any disciplinary history?
  • For what type of conduct?

Additional information

Additional Information: For additional information about our investment advisory services, go to Investment Adviser Public Disclosure Page or visit www.Facet.com. You can request up-to-date information and a copy of our client relationship summary by contacting us at (443) 376-6222.

Conversation Starters:

  • Who is my primary contact person?
  • Is he or she a representative of an investment adviser or broker-dealer?
  • Who can I talk to if I have concerns about how this person is treating me?