The website, which was previously in private beta, works like Mint.com for investments, compiling information about multiple accounts in one place and offering analysis of the user's overall financial picture. But while Mint.com's financial advice comes in the form of paid advertising, 's investing advice is its own work product.

The company, which consists of both software engineers and finance experts, relies on algorithms to deliver relevant parts of investing best practices advice to diverse users. According to cofounders Jon Xu and Bo Lu, financial advisers share a set of "well-known best practices" when it comes to structuring an investment portfolio, which includes, for example, balancing stocks and bonds.

Lu said the algorithm that powers the advice is "definitely complex -- that's one of the reasons that no one's built it."

FutureAdvisor will compete with services from existing providers including Betterment, WealthFront and Personal Capital.

The co-founders hope their service will do for financial advising what Expedia and Hotwire did for the travel industry: "Disintermediate the human in the middle who in a very non-transparent way is taking a cut," Lu said. Investors pay fees whenever they invest through mutual funds or IRAs, but the fees are often only clarified in the fine print. Moreover, as recent financial scandals have revealed, advisers often operate under pressure to sell particular products.