Two former NAB executives have released a cloud-based advice system directed at individuals who don’t have an adviser and want to track their wealth.
Michael Clancy and Donald Hellyer have rolled out BigFuture.com.au. In a statement, Mr Clancy said the new service targets the “80 per cent of Australians who 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,” he said.
According to the statement, the service provides a single place for members to view their total wealth, including superannuation, bank accounts, term deposits, managed funds, property and loans.
It also offers educational videos as well as a “sophisticated planning model” for members to see how much they will need to save for retirement.
In addition, BigFuture is free to use for most people and will offer affordable paid premium services for those with “large numbers of investments or complex needs,” the company said.
Mr Hellyer, who is chief executive of the company, 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 your car you can learn how to manage your money,” he said.