The new version of the product integrates automatic direct data feeds from banks, superannuation funds, share brokers and managed funds.
BigFuture chief executive, Donald Hellyer, said the company’s aim was to develop an individual’s confidence in making financial decisions.
“BigFuture’s aim from the start was to offer a complete wealth management package, enabling people to see what they own and how this changes with time,” Hellyer said.
“We have built a very powerful multicurrency database that displays asset and country allocation.”
BigFuture was formed by Donald Hellyer, Chris Reay and Michael Clancy in May 2014, with the fintech’s cloud-based application first launched in September last year.
The company said its application provides individuals with a unified portal for viewing “all their wealth in one place” as well as experimenting with retirement spending projections.
By using a stochastic simulation, titled Monte Carlo, the model allows members to model how they want to spend their wealth and then provides an evaluation regarding the likelihood of this lifestyle being funded.
“BigFuture has built a large library of engaging and informative education modules for beginner to expert,” Hellyer said.
“BigFuture’s retirement planning tools [allow] an individual to model the trade off between a desired lifestyle and the probability they will run out of retirement savings.”
