Online tool provides investment guidance based on the individual's criteria. Online brokerage E-Trade Financial is touting Online Advisor, a web-based advisory tool "designed to provide investors with actionable investment guidance, including recommended asset allocations and solutions ranging from fully self-directed investing to 100 percent discretionary portfolio management from a registered investment adviser affiliate," the firm says in a press release.

Just a guess

"Ahead of the summer season, many investors are reassessing their financial portfolios," says E-Trade Securities president said Michael Curcio."E*TRADE's Online Advisor helps investors quickly reevaluate their risk tolerance and goals, and immediately implement any changes through our website or one of our professional advisors."

E-trade didn't respond to a request for clarification of its use of the word "actionable," but it seems likely the firm has in mind the sense of capable of being acted upon rather than subject to or affording ground for an action or suit at law.

Online Advisor is free to users of E-Trade's online brokerage platform and to clients of its retail-brokerage business. -FWR

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