GoldK and GuidedChoice Inc. today unveiled an online investment advice...

GoldK and GuidedChoice Inc. today unveiled an online investment advice program for 401(k) participants developed by Nobel Laureate Harry Markowitz. Mr. Markowitz said the program offers advice on savings rate and investment strategies, employing Monte Carlo simulations to guide participants in choosing among seven efficient portfolios. The advice program, called GuidedSavings, also implements various plan rules, considers the impact of loans on portfolios and offers automatic rebalancing, said Sherrie Grabot, CEO of GuidedChoice, which has a strategic relationship with online retirement plan provider GoldK. About 10 GuidedChoice clients have been testing the product. It now will be rolled out to GoldK’s 1,000 clients; participants using the service will pay a fee not exceeding $450 a year.