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 sizable gap in the wealth management and retirement planning industry for a personalised yet automated system that combines values, goals, strategies 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.

This will be Lumiant’s second raise with Equitise, after closing an initial Seed round of $1.17M in December last year. The last six months have been non-stop, as Lumiant met the changing demands of the industry ensuring its platform continues to meet its customer’s needs now and into the future.

Since the raise, Lumiant has:

• Onboarded over 200 clients onto its platform
• Initiated partnership opportunities with key industry bodies and complementary businesses to maximise Lumiant’s distribution
• Grown the team from 2 to 9 FTE

We are now coming back to market to fundraise to accelerate the next stage of growth. Bringing on board the talent to capture market share and scale the platform quickly to capitalise on Lumiant’s first mover advantage.

With less than 20% of Australians seeking financial advice, the financial advice industry must rapidly 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 transform itself if it wants to continue, grow and be perceived as relevant by future generations of clients.

This difficult operating environment presents an opportunity for progressive advisers to forge fully compliant client-centric, technology-enabled practices which will realise sustainable profits and help them scale.

Lumiant has created extraordinary, compliant by design, client and Adviser experiences. Its platform applies a systematic approach to integrating regulatory requirements into the discovery and fact-finding process.

Lumiant is a life-centred cloud-based advice platform that empowers advisers to deliver extraordinary advice that aligns with what clients truly value in their life. Through software supported conversations, advisers will uncover what really matters to their clients, understand their risk capacity, reveal their wealth and provide the goals, strategies and tasks to achieve their best life. The platform then incorporates this into a high fidelity record of advice, that can be exported or shared digitally at the click of a button.

For the first time, it enables advisers to deliver on the promise of advice by shifting the outcome from best product to best life. Modelling strategies that shape and sustain extraordinary lives through Lumiant’s unique optimisation 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.

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. Keeping clients engaged through its Lifebook, which measures, tracks and nudges clients to achieve their financial goals and live their best life.

Furthermore, to help Advisers navigate the increasingly complex regulatory landscape, Lumiant’s processes are compliant by design. Each module has been carefully mapped against the FASEA code of ethics, as well as ensuring Advisers can easily adhere to Know Your Customer and Best Interest Duty requirements by letting the client scope their own advice.

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

The Lumiant platform has been built from real experience and feedback, combined with the recent regulatory shifts. Its key features exist to provide advisers and their clients with the best possible experience and long-term outcomes. 

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.

A key component for customer success is the delivery of additional professional services which fill the void left by retreating banking businesses and dealer groups. By becoming an ‘unofficial dealer group’ for advisers and delivering the value-added-services they have become accustomed to, Lumiant will become incredibly sticky and increase switching costs for Advisers. Creating a defensible moat to protect its market leading position. 

To enhance its distribution channels, Lumiant has also taken an agnostic approach to partnerships. The development of its Open API enables Lumiant to be easily integrated with complementary software, such as CRM tools like Salesforce or wealth platforms like BASIQ. Lumiant will continue to drive further integrations across the financial advice value chain to add greater value to customers and become the core platform that guides, tracks and measures clients’ financial progression towards living their best life.

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 to capitalise