CashDeck and MyMoney will collaborate to provide personal wealth management software and financial education to assist client’s to better understand spending habits and patterns and double check on planners’ advice.

CashDeck chief technical officer, Wayne Robinson said financial advisers still played a major role in money management, but clients now wanted the ability to see and understand their personal finance situation better.

“We do see a shift to people wanting more visibility of their own personal financial situation. We believe that the built-in financial education components of CashDeck will help to boost the level of financial literacy in the market and allow advisers to offer greater value to their clients,” he said.

MyMoney founder and chief executive, Graham Chee said the shift in client behaviour had called for a new product offering.

“This simple-to-use tool can help alleviate some of the financial stress and vulnerability that over 60 per cent of Australians carry with them every day,” Chee said.

“Where once clients left everything in the hands of an adviser, these days they want to be across their finances and take more responsibility.”