Overall Rating

MyBankTracker Grade

B
Customer Rating
Financial Health
Bank Fees
Bank Rates
Number of Locations
Mobile Deposits
Mobile Banking

Featured Rates

5,314
Branch Locations

Bank of America Location Map
We found branches close to you.

Add a Bank to Compare

Bank Reviews
CIT Bank
Add
Bank Rates
Citibank
Add
Bank Rates
Chase
Add
Compare Banks

Bank of America Questions

150 Characters Remaining

Pick a Category

Be Notified Of New Comments?

Ask community a question
PoweredByWSI's Profile Image
on Jan 31st 2012

Online Financial Planning Solutions - Looking For Your Thoughts and Insight

Full disclosure... I'm helping a new company called Plan & Act (www.PlanAndAct.com) promote their solution as a provider of online financial planning and money management services. I'm interested in the community's take on this type of business model and what are the key "issues" or "questions" you would have before starting this type of a process. This is not intended to be a "commercial" for P&A, but below is some perspective on their business model so you'll have a better understanding to base your feedback and input.

P&A's believes their competitive advantage is offering an affordable, yet very comprehensive (40+ pages) financial plan for less than $200 (when a plan of this nature from a traditional advisor could be hundreds of dollars). Their target market is the "mass affluent" consumer, defined as having $100k - $1MM in assets, so keeping their process affordable is a key component to their strategy. They also have built their system to ensure complete objectivity in the planning process, so any recommendations are made based on the client's best interests, not on the commission structure of a fund company. The term "fiduciary" is starting to become the hot button in a lot of financial planning circles, so they believe it's important to make sure customers know they've "got their back".

To help folks understand the process (and give them a bit of perspective on their personal financial situation), P&A offers visitors to their site the ability to create their own free financial assessment. This "quick check" takes only a couple of minutes and can help show if the person is on track, or maybe has some work to do when it comes to their financial planning efforts.

What other sources do you use when it comes to financial planning? Are there other sites that you are using, and if so, what are they? Do you still rely on a "

View all Questions