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Inventures: Online tool offers free financial planning advice

1:40 AM, Oct 18, 2013   |    comments
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MODESTO, CA - If you want the best financial advice, you probably have to pay for it.

But some financial advisors in Modesto are trying to change that by creating a free financial planning solution called Flexscore.

"My husband and I do fairly well for ourselves," Melissa Neece said. "But we're not at a point where we need a full time wealth management company."

Neece is married and has a 5-year-old daughter. She thinks about their future a lot and she reviews her finances at least once a week. So, when she learned about a new online money management tool, she quickly signed up.

It's called Flexscore, not to be confused with your credit score.

"Flexscore is your financial success score," Flexscore co-founder Jason Gordo said. "There's got to be a quick simple way to answer two questions- How am I doing with my money and what can I do to improve? That's what Flexscore does."

Gordo and Jeff Burrow came up with the financial scoring tool. They even wrote a book about it. Together, the two financial planners also run Valley Wealth in Modesto, which Forbes magazine recently ranked 43rd among the nation's top 50 emerging wealth management companies.

They wanted to put their financial knowledge in the average American's hands.

"We thought, what if we could make it just as powerful as a full financial planning meeting and at the same time make it simple," Burrow explained.

So they made it somewhat of a game.

Your Flexscore ranges from 0 - 1,000 points. You earn points as you take steps to improve your finances. Once you hit a 1,000, you're financially ready to retire.

By seeing results, Neece said she feels like she's on the right track.

"We can start seeing every little step based on our action plan," Neece said. "Our scores going up."

"It keeps them engaged, it keeps them coming back for more," Gordo added. "But the beauty is it's really good financial advice."

And it's free. Flexscore gets paid if you use the financial institutions on its site, but you don't have to use them.

It was launched at a financial technology convention back in May. Just in the last three weeks, they've tripled their user base. And now, they're also working on translating it in other languages.

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