Episode NO.401

Anders Jones, co-founder and CEO of Facet Wealth, joins the show with Scott Kitun. Facet Wealth is a fintech company offering personalized financial advice and wealth management services. Today, Facet announced a $100 million Series C round led by Durable Capital Partners LP to fuel its growth with users, team and tech suite.

Through a combination of proprietary tech and access to CFP (Certified Financial Planner) professionals, Facet wants to serve an underserved market of 40 million American households with an affordable subscription model (as opposed to AUM-based fees). Anders talks to Scott about securing the Series C and how he and his cofounders came up with the idea helping their mothers he likes to call “The Tale of the Three Mothers”.

Scott and Anders talk about changing the standards of financial literacy in the US, changing public perceptions around debt (it CAN be a tool) and offering more sophisticated financial advice than retail investors are privy to through apps like Acorns. They also touch on the rise of meme stocks, the future of retail investing and why fintech companies like Facet have the opportunity to serve underserved populations differently.