Pros: Learn Vest is accessible to many people who cannot afford a financial planner out right.
The most valuable thing I learned was about calculating what it cost per year for your lifestyle then dividing that number by 12 and opening an account to set that amount aside into separate accounts.
For example lets say my idea of fun things like shopping, travel, dining out cost me $2,000 per year. I would open a FUN account and save $166.00 per month which is $2,000/12= $166.00. Anythime I do a "fun" activity, make a transfer to pay for it. Brilliant and I never thought of it before LearnVest
Cons: I paid $299 set up fee and $19.00 per month thereafter. I would say that $300 set up and $19/month is comparable to what you would pay a legit financial planner for two real sessions. If I knew what they really offered for the money you pay, I would've passed.
You only get two phone calls. The phone calls last about 1 hour and are very impersonal you cant see the person advising you about your money. No bueno. I suggested Skype but was told for legal reasons they cant skype. After the two phone calls you are on your own.
Those stupid PDF worksheets: Once you have painstakingly input all your financial information into the Learnvest system i.e salary, retirement and debt, you are required to complete worksheets to figure out a budget. The idea is great but the execution is terrible because the worksheets have to be printed out and done by hand. In addition, the work on the worksheets remains on paper its not incorporated into the system electronically. FAIL
Conclusion: LearnVest is a classic case of being too big for its britches. While they have some great and innovative ideas, they fail on software and executing those ideas.
All you are really getting from Learnvest is what Mint.com provides for free with the exception of 2 phone calls from a personal planner and daily "tasks" via automatic emails that go ignored. If you need more support and guidance especially with investing, just pay to play and hire a real CFA.