04 May 2022 |
SEASON OPENER: How to Bring Humanity to Financial Planning
By Nicole Casperson
- A Global View of Belonging: 2:36
- Finding Connection as an Outsider: 5:45
- Building an Inclusive Answer: 7:18
- Defining Identity Through Wealth: 9:28
- Financial Wellness IS Wellness: 16:00
- Building Around The Consumer: 18:26
- Why Goal Setting Comes First: 25:00
- MVPs in The Space: 26:25
- Embrace Your Difference: 29:57
- The Future is Growth: 31:51
The Founder Bringing Humanity Into Fintech
“All of us in FinTech are kind of outsiders. And I think there’s this omnipresent feeling that I’ve had throughout my life of being a little bit of an outsider and questioning, why this financial services industry operates this way and thinking a little bit about how it could be different.” – Shruti Joshi, COO of Facet Wealth.
Welcome to Season 2 of Humans of Fintech. Shruti knows the importance of empowering people with financial knowledge, how money (wrongly) defines identity, and her own sense of feeling like an outsider.
It’s why, through Facet Wealth, she’s turning traditional financial planning on its head and putting human wellness at the center.
And it all stems from her fascinating early life as a child who lived in seven different countries before the age of 14.
Watching her parents’ chase better opportunities planted a seed in Shruti that there was no right or wrong way to go about achieving goals. Instead, it was about jumping on the next opportunity and taking a risk.
Solving The Financial Planning Problem
A traditional business model, built in the 1960s was never going to meet the needs of a demographic looking for more nuanced financial advice.
And giving people the means to make better choices is very much a part of what Facet Wealth is doing:
“I think what people are realizing more and more, and I think this is a big part of our work, is to help them realize that financial choices are actually a way to express and explore your identity and to figure out how do you want to express your values?”
Understanding that you have choices and that those choices can help you attain your goals, places the customer right at the heart of Facet Wealth’s mission, providing accessibility, breaking down barriers, and bringing out the very best elements of fintech.
For Shruti it means lasering in on wellness and acting on the belief that financial wellness is wellness.
The Future is Growth
“I think there’s going to be a lot more that people will hear around that message and blending the emotional and very rational pieces of financial planning, and getting people to think a little bit differently about how they relate to what planning should do for them.”
Building a platform to offer tailor-made, emotionally intelligent, and highly personalized financial planning advice is one thing, but the future for Shruti and her team looks like rapid growth.
Creating industry partnerships, digging into tax advice and becoming a one-stop shop are all major goals. But more than that, Facet Wealth is positioning itself as the gold standard. An industry-leading subscription service that makes sense of the chaos and noise in the financial planning space.
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You can keep up-to-date with everything Humans of Fintech at https://workweek.com/brand/wtfintech/
And if you’ve enjoyed Humans of Fintech why not try: Chicks of FinTwit, Tech Unlocked, Breaking Banks or Fintech Insider