Fintech start-up BigFuture has introduced a new cloud based wealth advice service called BigFuture.com.au.
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The service aims to target people of all ages, who want to track their own wealth, learn more about investing and get access to sophisticated financial planning tools.
The service is free to use for most people and the company will also offer affordable paid premium services for those with large numbers of investments or complex needs.
The advice service has been designed to provide a single place for members to view their total wealth, including superannuation, bank accounts, term deposits, managed funds, property and loans.
Additionally, it also tracks how a member’s wealth changes over time and provides asset allocation and country allocation summaries.
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By GlobalDataIt also offers short animated videos and learning material for beginners, enthusiasts and experts as well as an sophisticated planning model for members to see how much they will need to save for retirement and how much they will be able to spend in retirement.
The model, which uses stochastic simulations, allows members to know how they want to spend their wealth.
BigFuture CEO Donald Hellyer said: "BigFuture aims to democratise wealth management, providing individuals with a means to take control of their wealth. We believe if you can learn how to drive a car you can learn how to manage your own money."
BigFuture founder Michael Clancy said: "Around 80% of Australian adults do not use financial planners. Some people just aren’t sure where to start. BigFuture can help this large group of Australians learn how to manage their wealth."
