Find free financial help online at sites such as Wealthfront.com and FutureAdvisor.com, reports CNN Money. Both of these sites provide financial advice service free of cost, while they charge fees for other investing activities and for handling accounts above a certain limit.
Many experts can now offer free financial advice without too much effort because of the development of computerized algorithms, according to CNN Money. FutureAdvisor is able to do this for investors who do not meet the minimum limit in an investment account, as required by other firms. Analysts use the site's algorithms to review retirement accounts and other investment portfolios and compare them to model portfolios to allow users to make educated choices with investment decisions. For a low flat annual fee, the site can also take over management of any account.
Wealthfront offers free financial advice and service for accounts between $5,000 and $10,000, reports CNN Money. Part of the company's successful strategy is that although it cannot control the ups and downs of the market, it controls the diversification of client portfolios to spread the risk around. With assets quadrupling between 2013 and 2015 from $100 million to $400 million, the advisers at the site continually rebalance asset portfolios to meet clients' targets.