Jason talks to Andres Jones, Co-founder, and CEO of Facet. It is a fintech company challenging traditional financial planning models and aims to introduce an advanced form of financial planning to underserviced markets often neglected by the industry. They use a subscription-based approach, focusing on a broader definition of financial planning beyond retirement. The company emerged in response to industry challenges, notably the failure of the DOL fiduciary rule.

Episode Highlights:

• 01:19: Anders provides a snapshot of Facet's inception in 2016, emphasizing the disruptive intent to reshape financial planning with a subscription-based model.
• 04:34: Anders illustrates the depth of Facet's service, sharing anecdotes about clients seeking assistance with major life events like having a baby.
• 08:08: Anders expands on Facet's client-centric approach, emphasizing assistance across different life milestones, showcasing the company's comprehensive financial planning perspective.
• 10:28: Anders discusses the facet philosophy, highlighting principles like maintaining a six-month emergency fund before investing, emphasizing the right order of operations.
• 13:20: Anders discusses metrics like member per planner ratio, client satisfaction, retention, and the importance of activation—ensuring clients act on provided advice.
• 17:24: Jason inquiries about the onboarding experience at Facet, prompting Anders to explain the two-call process led by a separate membership team to understand the client's needs and introduce Facet's services.
• 20:33: Anders highlights the focus on understanding the emotional aspects and the "why" behind a client's financial goals, aiming for a personalized and meaningful planning approach.
• 26:32: Jason discusses the challenges of serving clients with lower income or assets, and Anders mentions his optimism about technology advancements enabling lower-cost solutions in the future.
• 30:10: Anders highlights two motivating factors: Facet's mission-driven culture, where team members share stories about changing members' lives, and having an incredible team that makes the hard work of building a business enjoyable.

Key Points: 

1. Facet operates with a strong mission-oriented culture, emphasizing the team's commitment to changing financial planning for the better.
2. The discussion explores challenges when clients outgrow advisors and the potential for AI to drive down costs, making financial planning more accessible.
3. Despite virtual work success, Anders expresses a preference for in-person collaboration, especially in creative aspects of the business.

Tweetable Quotes:

• "Financial planning, when done well, looks at everything in your life that money touches, not just what your money is doing and what it'll be doing in 40 years." - Anders
• "The AUM-based business model for retail clients does not make sense. It does not align the cost that you're paying with the value that you're receiving." - Anders
• "Our ideal member is someone in their late 20s to early 40s, figuring out how to 'adult' and wanting help, or pre-retirees focused on the next 5 to 10 years." - Anders

Resource Mentioned:

• Facebook – Jason Pereira's Facebook
• LinkedIn – Jason Pereira's LinkedIn
• Woodgate.com – Sponsor
• https://facet.com/

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