A comprehensive and unique online course designed to aid investing and financial literacy among Indigenous communities has been launched.

First Nations Foundation (FNF) and Morningstar - an independent investment research company - developed the My Money Dream training platform to address the lack of trusted financial support services Indigenous people could access.

The technical nous of Morningstar and cultural expertise of FNF helped create My Money Dream, a groundbreaking, fit-for-purpose training course in investment and financial literacy specifically for Indigenous people.

The six modules have been designed for participants to work through them, and an accompanying workbook, at their own pace, and are focused on goal setting, getting started, how to take action and necessary investment tools required to help make smarter financial decisions.

First Nations Foundation CEO, Phil Usher said more Indigenous people were employed than ever but they still lacked access to trusted sources of financial information, or were too ashamed to ask.

"This diminishes opportunities to create intergenerational wealth and is at the core of why the First Nations Foundation exists," he said.

"For First Nations people, we are first-generation investors.

"It's the first time we are starting to be included in the economy, to the point where investing to build generational wealth is a viable option.

"The challenge is that we don't have anyone we can ask or go to for guidance."

Mr Usher said the support of Morningstar's extensive knowledge and research had helped produce an appropriate and informative course.

"Our priority is empowering First Nations communities to make informed financial decisions, that will also have positive impacts on future generations," he said.

"We've had very positive feedback from First Nations communities on our financial literacy and education training in the past.

"This shows us programs designed by First Nations community organisations have the greatest impact, and the best sustainable long-term effects."

The new FNF course also aims to debunk myths that investing is a quick way to earn money, but often a long-term decision with long-term benefits, as well as the notion that investing is complicated and only designed for those who already have money.

Morningstar chief executive, Chris Galloway said it was critical to help Indigenous people achieve financial security.

"This training course ensures Indigenous Australians have the trusted information and knowledge to start them on their investing journey and financial independence," he said.

"Our collaborative effort was as much a learning process for us, as we recognised the nuances that came with delivering the program."

Morningstar founder Joe Mansueto set up the company 38 years ago in his apartment so people could access the same crucial financial information as money experts.

It now provides independent investment research across 32 countries, managing 48,000 investments, forgoing commissions from fund managers, listed companies or other issuers to produce research on their products.

FNF believed Indigenous Australians have long had little chance to manage their own money.

Being paid in rations, experiencing stolen wages and low incomes had resulted in lower levels of financial education, compared to non-Indigenous Australians.

This was backed by a 2023 Australian Institute of Health and Welfare report, which found Indigenous households living in a state of financial stress increased between 2015 and 2019.

Aspects of financial stress were captured by analysing housing stress, security of necessities and the ability to raise funds in an emergency.

Access the course on the My Money Dream platform here.