Telstra-owned software company the KAZ Group has teamed up with investor education provider Money Solutions to launch a subscription-based online money management tool.
Working Money is aimed at individuals and employers and gives subscribers the ability to assess their financial situation, calculate how factors like interest rates will affect them and print out a ‘money action plan’.
Money Solutions chief executive Virginia Dowd said the tool offers subscribers more confidence and control in making investment decisions.
“It’s not about products and markets, it’s about your money management and your priorities, so by the time you’ve done that you really are quite prepared to see a financial adviser,” she said.
Dowd said the tool is being marketed to employers, although it can also be accessed by individuals.
“Primarily it’s a workplace offer where we tailor some of the content into workplace payroll issues, so we are working very closely with human resource departments,” she said.
Subscribers to the program are encouraged to seek the guidance of a Money Solutions ‘personal money coach’.
Dowd, who established the company 15 years earlier, said the coaches specialise in extending clients’ knowledge and simplifying complex financial topics.
