Will Personal Finance Apps Replace the Financial Planner?

With Tax Day come and gone again, New Tech City’s Manoush Zomorodi looks at the online services that might help you get on top of your finances for the this year.

MONEY Magazine staff writer Ismat Mangla has been testing some of the newest tools for managing purchases and scouting deals. She says the new apps may not be able to replace a real life financial advisor yet, but they’re getting close.

“There really is a lot out there," she said.  "When they say 'There’s an app for that,' they’re not kidding.”

Also on this week’s show, Zomorodi tours LearnVest, an online money management service where customers pay a monthly fee to get matched with an adviser for unlimited financial advice. The adviser then coaches the customer “on demand” over the phone, email or Skype. LearnVest Alexa von Tobel says the goal is to make finding a financial adviser as easy and affordable as joining the gym.

“Financial planning should not be a luxury,” she explain. “It should not be something that only wealthy people get access to. It truly should be something that the whole country gets access to.”