Facet Wealth has raised $33 million in funding for its new personal finance platform for consumers.

Private equity fund Warburg Pincus led the round, with participation from existing investor Slow Ventures. The funding will accelerate Facet Wealth’s vision to provide U.S. households with affordable access to comprehensive financial planning and advice and will help the company create new partnerships and scale its tech platform.

Baltimore-based Facet Wealth focuses on financial life management and enables the company’s certified financial planner (CFP) professionals to deliver a better client experience at an affordable price by incorporating technology. The company charges a flat annual fee for a relationship with a certified financial planner, with prices ranging from $480 to $5,000 per year, and caters to people with a wealth range of $100,000 to $1 million.

“Our mission is to unlock access to high-quality financial advice for the mass affluent individuals and families that are often underserved or overlooked by the traditional wealth management industry,” said Facet Wealth CEO Anders Jones, in a statement. “We are focused on delivering high-value service at an affordable price by combining high-touch financial planning with the accessibility and efficiency of on-demand service.”

Historically, high costs of service have driven personalized financial life management beyond the reach of millions of working families. While the traditional wealth management industry is well-suited to wealthy clients, the mass affluent population has historically lacked access to quality, full service financial planning services — and these are the households that would often benefit most from having a personalized plan.

“We founded Facet Wealth on the belief that the cost of comprehensive financial planning is too high for millions of Americans who truly need it,” said Facet Wealth cofounder and chair Patrick McKenna, in a statement. “We are turning the traditional model on its head by harnessing technology to dramatically lower the cost and increase the personalization of our CFP professionals’ financial advice for the broader market.”

Facet has a unique model for growth: The company partners with industry incumbents to help identify and transition clients who do not fit their ideal profile, which frees them up to focus on growth, increase practice valuation, and undergo generational transitions. It also enables more clients to receive quality financial life guidance from a fiduciary.

“Facet Wealth brings together the personalized planning of a dedicated financial advisor with an innovative technology platform that makes it more accessible and affordable for more working class families across the country,” said Jeff Stein, managing director of Warburg Pincus, in a statement. “We look forward to leveraging our deep expertise in the financial services sector to support Anders, Patrick, Brent (Weiss), and the entire Facet team as they define the next generation of financial life management for the mass affluent.”

Weiss is a former partner at an independent advisory firm and a certified financial planner.

“I was constantly challenged to provide comprehensive service to my smaller clients while maintaining a profitable practice,” said Weiss, who is head of planning at Facet Wealth, in  a statement. “Facet’s innovative solution enables us to focus on clients with fewer assets, who are most in need of help. At the same time, there are thousands of advisors that will greatly benefit from a partnership with Facet.”

The company was started in 2016 and has 27 employees. It has raised $37 million to date. Other seed investors include Zeitgeist, Upshift, and Accelerator Ventures.

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