First, Vanguard of Valley Forge, Pennsylvania offered Navigator Plus online. Now, the firm is introducing financial software online that will be free to any individual with a connection to the Internet, a spokesperson with the firm told InvestmentWires, Inc.

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The new service helps individuals with retirement planning as well as college, investment, and estate planning.

Designed by Vanguard's personal financial services area, the Total Planning segment helps individuals plan for all their financial needs with asset allocation recommendations.

"Through extensive research we have learned that a growing number of mutual fund investors are seeking high quality and cost efficient financial planning assistance directly online. Accordingly, we have created the Vanguard Online Planner, which is a sophisticated yet simple to use program, free to any investor who visits our website, to help meet this growing need," Shelton S. Unger, principal at Vanguard Online Services.

In terms of the retirement service, an individual -- even one whose 401(k) plan is not with Vanguard -- can use worksheets to determine risk tolerance and retirement goals. Once all the calculations are complete, the site makes recommendations. "This particular online service recommends from the Vanguard family," the spokesperson reported.

"In terms of funds, the individual may choose from two different kinds of recommendations. They have a choice of a portfolio made up of just index funds or a portfolio that blends index funds and actively managed funds," the official continued.

For those who are registered members of the provider's Access Vanguard, there are additional features as well. Information and calculations can be saved for up to one year. 

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