The super fund said that many of its members experience barriers accessing conventional services for advice, and since going live, the service has been used by 60,000 members.

HESTA chief executive Debby Blakey said Future Planner aims to bridge the gap between high-cost financial advice that often exceeds the needs of many people and do-it-yourself online advice that’s often not personalised.

“We started by asking our members and they told us they wanted support with long-term planning. Future Planner helps our members build confidence in their financial future by supporting them to take successive small but powerful steps that builds their confidence that they’re on track for a great retirement,” said Ms Blakey.

Future Planner blends both digital help and in-person goals-based advice and leverages data and digital innovation to provide a more personalised experience that considers a member’s lifestyle and personal goals, she stated.

“The platform was co-designed with members, who said they wanted support that could help alleviate anxiety surrounding superannuation and retirement, while building confidence to make long-term financial decisions,” she explained.

HESTA chief advice officer Josh Parisotto said many Australians believe they can’t afford financial advice and find the prospect of planning for their retirement daunting.

“We want to remove these barriers. By digitally scaling our help and advice via Future Planner, HESTA members can access the service online – anytime, anywhere,” Mr Parisotto said.

The tool gives members a snapshot of their future situation by incorporating other potential income, such as the aged pension, as well as integrating lifestyle planning to provide members with a more personalised picture of what a fulfilling retirement looks like for them, he said.

“Information is provided to members in a format that’s easy to understand. But it’s more than just numbers and projections, it’s about members considering what matters most to them,” he added.

HESTA said it is considering further digital developments that will help make advice more accessible to its members.