Lumiant is a holistic and interactive client experience SaaS solution, transforming the traditional financial advice process and driving better outcomes for advisers and their clients.

Research has highlighted a sizeable gap in the wealth management and retirement planning industry for a personalised yet automated system that combines values, goals, objectives and investment preferences into one client experience.

The Lumiant platform is being developed to fill this gap; to enable a novel and unique combination of psychographic data and granular financial data to perform multi-goal, multi-scenario analyses and to drive the optimisation and accurate calculation of data-driven financial advice.

Mission statement

Our purpose is to radically transform and excite the Financial Advice industry by partnering with advisers who seek to deliver on the promise of helping people lead extraordinary lives and want to build thriving, sustainable businesses.

With only 20% of Australians receiving financial advice, the financial advice industry must evolve when it comes to the quality, cost and delivery of advice. The industry must also seek to engage clients and advice seekers on a more personalised, individual and meaningful level, so the true value of advice can be recognised.

Significant changes in regulatory requirements, client expectations and an increasing number of alternatives available, mean the industry must evolve if it wants to continue, grow and be perceived as a relevant by future generations of clients.

 The specific challenges are:

• The industry has been people, pen and paper dependent, with limited scale and propositions anchored in product
• Regulatory friction has been persistent while the industry has been trained to deliver product-based advice
• Unfit, irrelevant consumer technologies which have driven poor decision making, and created friction in the adviser and client relationship
• Industry EBIT margins have been weak with limitations on the number of people an adviser can serve
• Appeal to a new generation of millennial investors who prioritise values-based investing, with a preference for a more digital interaction and service provision

There's an opportunity for advisers to forge client-centric, technology-enabled advice practices which will boost profits and help them scale.

Lumiant addresses many of the biggest challenges facing financial planning businesses today.

Lumiant’s ‘Life Centred Advice’ process and sophisticated software-as-a-service (SaaS) platform combine to exceed the regulatory standards, drive consumer loyalty and advocacy and increase profitability, whilst delivering a meaningful, personalised experience to the end client - one they will truly value.

In addition to a world-class client experience, the service features a unique recommendation engine which will be underpinned by new financial logics and rules that can analyse psychological and financial data inputs in a structured and quantitative manner.

Its unique values-based approach shifts the consumer value proposition away from investment products.  Rather, through an interactive guided process,  Lumiant provides advice seekers a way to uncover what truly matters to them, in order to work with their adviser to design their best life.

This centres the value of financial advice in meaningful long-term goals and values, rather than just numbers and decimal points, creating an opportunity for advisers to retain clients for life.

Simply put, Lumiant is a seamless, holistic client experience management solution, driving better outcomes for both advice firms and their clients.

Lumiant provides advisers with a platform to drive measurable, meaningful and repeatable experiences which break down barriers, provide clarity, and open up communication.

Its interactive, personalised process helps identify what really matters, so advisers and their clients can identify priorities, shape strategies and drive action to ensure advice seekers achieve their best life.

The experience starts with a carefully crafted questionnaire which will help advisers and clients understand the client’s current levels of confidence across a range of important issues related to their financial well-being.

The adviser will meet with their clients to take time to understand what really matters to them (and their partner), their values and their needs.

Using Lumiant, they will then tailor an investment strategy for the client which maps to their values, goals and priorities

Everything will be captured for the client along the way in the Lumiant Lifebook. A rich source of information that helps clients track their progress toward their goals and ensures their money is being used to best effect and in a way that aligns with their values.

Lumiant is the product of state-of-the-art software engineering and a robust human-centred design process which places people's needs at the centre of the product design process.

As well as consolidating inputs from a range of disparate technologies currently in play across the wealth management industry, it is compliant by design - reducing compliance and reputational risks of the traditional model.

Lumiant will primarily focus on executing its current pipeline and those indicating existing interest from the centres of influence based LOIs. These early initiatives will underpin the economic model through the initial strategic planning cycle of FY21-23, providing a platform to launch into an accelerated growth plan during the second strategic planning cycle of FY24-26.

The accelerated plan for user acquisition will be to pivot into the institutional space and industry super fund markets. These markets have struggled to engage their investors and it is expected that the Lumiant process will be highly sought after by this segment. Equally, these groups are currently experiencing substantial change due to significant regulatory reform and remediation efforts. Accordingly, it is expected that their appetite for technological change will be heightened toward the end of FY21-23.

Lumiant will explore additional channel growth opportunities to leverage the platform alongside other SaaS vendors who have indicated an interest in collaboration. Further adjacent opportunities exist in other parts of the wealth sector including, but not limited to, the accounting profession and the mortgage broking sector.

Dependent upon Lumiant’s success through the FY21-23 strategic cycle, different growth scenarios may arise, including acquisitions, and entering offshore markets such as New Zealand, US, and Canada. However, these will not be leveraged until the local market has been successfully exploited.

Lumiant intends to radically transform and excite the financial advice industry. Crowd Funding allows us to access like-minded investors and Financial Advisers who want to be part of something truly transformational.

Lumiant’s core mission is to empower Australians to live their best financial life. We have partnered with Equitise to deliver an Equity Crowdfunding Campaign, which we see as a natural fit in allowing the community of Australian advisers and investors to join us on our journey to elevate the financial well-being of many Australians.

With Lumiant’s core technology in the final stages of development, and poised for rapid growth, we are raising capital to strengthen our team in the lead-up to our public market launch in early 2021.