The Grove team
is joining Wealthfront.

After four years of delivering financial advice online, we couldn’t be happier to announce that the Grove team is joining forces with Wealthfront.

Money is the leading cause of stress in America and honest financial advice can be expensive and difficult to find. We started Grove with a clear mission to make financial advice accessible and affordable for everyone.

Since then, we’ve been fortunate to have the opportunity to help so many amazing people plan for their future and are grateful for the clients, employees, and investors who have helped us pursue our mission. We believe that in order to best achieve the scale and impact we set out to, we should shift our focus to building technology and automation on a large and growing platform. We are excited to be joining forces with Wealthfront to build Self-Driving Money™, which will help millions of Americans optimize every dollar they earn.

Following this path means that Grove will no longer be providing financial planning to clients. If you are a current Grove client, please look out for an email with more information. You can also reference the FAQ below, which explains more about what these changes mean for you. If you have any questions, feel free to reach out to us via email at contact@hellogrove.com.

I am excited for what the future holds and want to thank our clients, investors, friends, advisors, and the team at Wealthfront for their support and encouragement.

Chris Hutchins and the entire Grove team

What is happening to Grove’s clients?

Grove Advisors LLC (“Grove”) is transitioning its clients and a significant portion of our financial advisor team to Facet Wealth, Inc. (“Facet”) an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). As of August 23rd, Grove itself will no longer offer financial planning services or investment advisory services to clients. To facilitate the transition to Facet, Grove has entered a strategic agreement with them to offer financial planning to those of our clients who are interested in continuing to receive fiduciary, flat-fee financial advice. To learn more about the agreement that Grove has with Facet, you can find our solicitation disclosure here.

Who is Facet Wealth?

Facet is an SEC-registered investment advisor that focuses on human-first financial planning. Their goal is to make financial planning accessible and affordable to a wider group of people than traditionally have had access to it. They tackle both long-term needs like retirement and day-to-day financial questions people wouldn’t usually seek out a financial planner for. You can learn more about Facet by accessing their Form ADV Part 2 here.

Every one of Facet’s clients works with a single, dedicated Certified Financial Planner™, and all of their client meetings are held via video conference or telephone. Facet has a client portal which makes it easy for their clients to track progress towards their goals, so they can stay on track for their future. Also like Grove, they offer flat-fee financial planning, which we think is a great fit for our clients.

You can schedule a time to connect with Facet directly here.

Will I be automatically signed up as a client of Facet?

No, you will not be automatically signed up as Facet’s client and there is no commitment to sign up with Facet. We encourage you to speak with Facet to find out if their service is a good fit for your needs.

We will not provide Facet your contact information unless you give us permission to do so. If you email us at contact@hellogrove.com indicating you would like us to share your contact information with Facet, we will provide them the name, email address, and phone number you have on file with us. Facet will use that information to reach out to you to help evaluate a transition to their service.

How do I transition to Facet?

We want to make the transition as seamless as possible for you so that Facet can build upon the financial plan you have with Grove. Once you sign up with Facet, you can provide us permission to release your account information to them. This information may include (but is not limited to) your profile information, recommendations we have made to you, and notes we have taken about your situation.

What happens if I do not sign up to be a client of Facet?

Grove will no longer offer investment advisory services as of August 23rd, so your access to financial advice will end. To give you a chance to save any information, your account on hellogrove.com will remain active until September 21, 2019. After that date, it will no longer be accessible.

Are you providing refunds?

Yes, in many cases. Because Grove will no longer be providing planning services, we are providing refunds to current Grove clients on your original payment method. The refunds are calculated according to our Money Back Policy1 using August 22, 2019 as the end date, and pro-rata based on prepaid service that was not yet delivered. The refunds will be automatically processed and you do not need to take any further action on your end.

If you make monthly or quarterly payments, this means that we are refunding all payments you made within the last 100 days.

If you prepaid for a year of service, we will be refunding all payments you made within the last 100 days and we will be refunding you for the remaining amount of the year you have prepaid for.

If you have an account at Grove Invest, we will be refunding all Grove management fees charged within the last 100 days.

If you have a deposit outstanding with us, we are refunding your deposit.

In some circumstances, at our discretion, we may refund additional amounts. Refunds should appear within 7-10 business days after August 23rd.

How long will I have access to my online account?

To give you a chance to save any information, your account on hellogrove.com will remain active until September 21, 2019. After that date, it will no longer be accessible.

What happens to the personal information I’ve shared with Grove?

Our privacy policy will remain in effect, and no information will be provided to Facet without your permission. You can see the latest version of our privacy policy here.

What happens to my Grove Invest account?

Grove will cease to manage your investment portfolio at the end of the day on August 23rd and we will not charge any additional management fees. After Grove stops managing your portfolio, it will remain invested in the positions as of the end of that day. Unless you take action, your money and investment positions will remain at TD Ameritrade.

At Grove Invest, your account is a “TD Ameritrade Institutional” account. Your TD Ameritrade account is accessible using the current login information here until August 30th, 2019.

You have the choice of three primary courses of action:

1. By default, if you do not take action before August 30th, TD Ameritrade will convert your account into a retail account for you to use. This is similar to opening an account on the primary TD Ameritrade website, tdameritrade.com. If this happens, TD Ameritrade will send instructions on how to log into and access your new retail account.

2. You can choose to transfer the holdings in your account to another brokerage firm. To execute a transfer to another institution, you should contact the receiving institution to initiate the transfer. In this process you will need to provide them your TD Ameritrade account information, which is available on statements that you have received and on advisorclient.com. If your account is converted into a retail account (which happens after August 30th, 2019), you will need to provide them updated information for your TD Ameritrade retail account. Transferring your assets may result in a $50 closing fee from TD Ameritrade.

3. You can choose to join Facet and have them manage your investments. In this circumstance, please contact us and we can help coordinate the transfer of your accounts to Facet.

If you have questions about your TD Ameritrade account, you can reach TD Ameritrade Institutional at 800-431-3500, option 4. If your account has been converted into a retail account, you can reach TD Ameritrade at 800-669-3900 for any questions.

Help, I have another question!

We understand that this may be disruptive to you and we are sorry! We will do our best to promptly respond to questions you have at contact@hellogrove.com.
  1. 1. Money Back Policy: If you are not completely satisfied for any reason, at your request Grove Advisors LLC will refund any eligible fee related to your concern within the timeframes described below. Two Grove services are eligible for this guarantee: (1) Ongoing Financial Planning Subscription (“Grove membership”), (2) Wrap Fee Program (“Grove Invest”). Refund requests must be received no later than 100 days after the fee was charged. The guarantee is only available to current clients. Refunds will only be applied to the original payment method in the case of Grove membership, or the account charged in the case of Grove Invest, and will be credited within approximately four weeks of a valid request. No other charges or expenses and no market losses will be refunded. Other restrictions may apply. Grove reserves the right to change or terminate the guarantee at any time.