Facet Wealth, Inc, (Baltimore)

Name: Facet Wealth, Inc,
Address: 509 S. Exeter Street, Baltimore, MD, 21202
Telephone: (443)376-6222

Facet Wealth, Inc, is a multi-state adviser based in Baltimore. It manages $43.7 million of regulatory assets for 405 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Facet Wealth provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Facet Wealth: assets under management

The assets under management (AUM) of Facet Wealth, Inc, is $43.7 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $43.7 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $107.91 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 86% of the total AUM. The second-largest asset type is exchange traded securities, which make up 13% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Facet Wealth, Inc, for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Jeffrey Scott Stein serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Jeffrey Scott Stein is individuals with 151 clients and $27.48 million of assets under management. Among the 1 most similar advisory firms, Facet Wealth has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $43.7 million for 163 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Facet Wealth doesn't advise any private funds.

Careers at Facet Wealth, Inc,

The company employs 49 people that are either part- or full-time employees. 31 percent of the employees work as investment advisers or researchers. 17 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Jeffrey Scott Stein has been acting as President since 1 Aug 2018. Todd Marshall Schell joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Patrick Royal Mckenna	Executive chairman and director	1 Nov 2016	Other	3104892
Brent Mitchell Weiss	Head of planning	1 Nov 2016	Other	5078002
Anderson Egan Jones	Chief executive officer and director	1 Nov 2016	Other	6727202
Austen Bass	Vice president	1 Nov 2016	Other	6727207
Gorkem Sevinc	Chief technology officer	1 Nov 2016	Other	6727208
Christopher John Hufman	Head of operations/chief compliance officer	1 Jun 2018	Other	2306338
Jeffrey Scott Stein	Director	1 Aug 2018	Other	4691107
Todd Marshall Schell	Director	1 Aug 2018	Other	5552040
Charles Michael Roame	Director	1 Aug 2018	Other	2125256
Lp Warburg Pincus Private Equity Xii	Shareholder	1 Aug 2018	Other	47-4299035
Lp Warburg Pincus Financial Sector	Shareholder	1 Aug 2018	Other	82-1919654

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
L.P. Warburg Pincus Xii	General partner	1 Jun 2015	Other	47-4298925
L.P. Warburg Pincus Financial Sector Gp	General partner	1 Jun 2017	Other	82-1931089

Based in Baltimore

The principal office where Facet Wealth, Inc, performs its advisory services is located at 509 S. Exeter Street, Baltimore, MD 21202, which is also the mailing address of the firm. An additional office of the firm is in Charleston, SC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (443)376-6222. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at facetwealth.com.