No-load firm T. Rowe Price of Baltimore has introduced a new service that offers investors advice and portfolio allocation recommendations for $250.

The service, called Investment Checkup Service, bases its recommendations on each investor's goals and risk tolerance. Investors are required to complete an extensive profile they then mail to T. Rowe Price. T. Rowe Price portfolio managers, research analysts and certified financial planners then assemble a model portfolio for the investors as well as offer advice on how to minimize taxes. A counselor explains the recommendations and answers any questions investors may have.

Investors with $500,000 or more invested in T. Rowe Price products will be entitled to two reviews by the service each year at no cost, said Steven Norwitz, a spokesperson for the company.

Although the firm announced the service last week, it began offering the service a couple of weeks ago.

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