RICHMOND, Va., April 9, 2001 (PRIMEZONE) -- Simplifying the process of selecting a financial advisor, Richmond-based financial services provider Financeware, through an agreement with CNBC.com, recently announced the ability for investors to link with advisors online. To date, over 2,000 financial advisors have registered in a directory of advisors available on CNBC.com and several hundred new and unique investors are logging on daily to test their financial plans and search for advisors. This unique "matchmaking service" was created in December 2000, when Financeware became a personal finance partner of CNBC.com.
Finding a financial advisor used to mean asking friends for referrals, thumbing through the yellow pages, filling out questionnaires, and listening to presentations and proposals.
"With CNBC.com, the time savings for the investor is immediately evident," said David Loeper, president and CEO of Financeware. "We are providing the fastest, easiest and best way for an investor to find the financial advisor that may be right for them."
Investors first log onto Financeware through the CNBC.com Personal Finance Center. After inputting basic financial information, investors can use Financeware's proprietary probability analysis software to see the chances they will achieve their goals. Investors may then anonymously submit their plans, at no cost or obligation, to advisors registered in the directory.
The investor can then give an advisor a trial run, allowing the advisor to increase an investor's chances of success. The investor is only required to enter his or her data once, securely and confidentially, from their home or office PC. Plans can be submitted to any advisor in the directory using a variety of search criteria. This criteria includes: geographic location, experience, credentials or licenses, states in which the advisor is registered, or assets under management.
If an investor does not want to submit his or her plan to any specific advisor, he or she can put the plan up for bid. This enables investors to send their financial plan to any "Choice Advisor" that is registered in their state of residence. Choice Advisors are identified as those advisors that have successfully used Financeware's tools.
"With the plan bidding process, investors get feedback from advisors familiar with Financeware's tools," said Loeper. "By submitting their plans anonymously, investors may find advisors they otherwise would never have met."
About Financeware
Based in Richmond, Va., Financeware (www.financeware.com) is powering the future of financial advice through a unique suite of online analysis and client collaboration tools for financial advisors. Founded in 1999, the company is privately held.
About CNBC.com
CNBC.com, a unit of General Electric (NYSE:GE), is the indispensable financial resource for today's informed investor. CNBC.com democratizes Wall Street by providing original, personal, and relevant information, which helps investors profit from today's lightning-paced financial activity. CNBC.com assists investors with long term financial planning and personal finance by providing information, analysis, and tools on a wide array of topics, including new financial products, retirement planning, personal borrowing, and tax planning.