Execs at Warburg Pincus-backed startup Facet Wealth told us why they went with Netflix-style subscription pricing for financial planning
code of ethics and standards"The future of this industry is about financial planning," as opposed to solely offering investment management advice, Jones said., which offers free online savings tools and also employs human advisers.
Facet does not implement account minimums, and its clients typically fall into three groups: young professionals, early- to mid-career families, and pre-retirees. It has some $100 million in assets under management, with assets under advisement around $500 million.To date, Facet has raised some $37 million after a Series A round led last fall by the private equity firm Warburg Pincus and an earlier investment from Slow Ventures.
With that funding, it's been able to expand. After the robo-adviser Wealthfront in August absorbed team members from financial-planning start-up Grove, Facet took, members of its planning team, and their clients who weren't integrated into Wealthfront for an undisclosed amount. To be sure, even as new and digital entrants crowd the wealth management industry and gain market share, legacy wirehouses still oversee trillions in wealth.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Morgan Stanley's wealth head Andy Saperstein on wealth tech training - Business InsiderMorgan Stanley's greener employees are teaching experienced financial advisers how to use its WealthDesk tools. It's a way to help out —and potentially rise through the ranks.
Baca lebih lajut »
Cory Booker Pushes Back on Warren's Wealth TaxNew Jersey Sen. Cory Booker is one of the first candidates to directly push back against Massachusetts Sen. Elizabeth Warren’s wealth tax, calling it 'cumb
Baca lebih lajut »
Elizabeth Warren proposes 'wealth tax' on Americans with more than $50 million in assetsElizabeth Warren has made attacks on billionaires a centerpiece of her campaign. Here are the details of her 'wealth tax' and how it would work. DemDebate
Baca lebih lajut »
Warren defends wealth tax: 'I'm tired of freeloading billionaires'Sen. Elizabeth Warren defended her proposed wealth tax during the Democratic presidential debate.
Baca lebih lajut »
Silicon Valley investor Chamath Palihapitiya says he loves Warren's wealth tax, but he declines to endorse herWarren's so-called wealth tax would impose a 6% tax on wealth over $1 billion and a 2% tax on every dollar of wealth held between $50 million and $1 billion. Silicon Valley investor Chamath Palihapitiya says he loves it.
Baca lebih lajut »