Launched into the financial services market in 2018, Genivity is an award-winning Health Analysis and Longevity Optimizer (HALO), which sets a new standard of care for clients, providing personalised longevity models based on client health risks, lifestyle choices, and demographic factors. Using these models, advisors and clients can better understand their options regarding improving their health and planning for care costs in retirement, enabling them to make more informed decisions.

HALO’s projections empower advisors to develop highly personalised financial plans by acknowledging people aren’t averages. Instead, HALO covers all the most statistically important risk factors that affect longevity, health span, and years of disability or care, enabling advisors to be more accurate and personalised with their financial projections.

“Lumiant aims to be the central location for clients to discover, plan and track their best lives. This means combining the core pillars of financial planning – lifestyle, legacy and now longevity – to provide clients with a holistic view of their overall wellbeing.”

“Genivity is central to that and brings the impact of lifestyle choices, health risks and demographic factors on their financial plan into focus, helping us to personalise a client’s best life plan with a scalable technology solution that lets advisors and clients understand the various levers in life they have to choose from, ” said Blake Wood, US CEO at Lumiant.

“Its solution will expand Lumiant’s advice engagement offering, giving advisors new tools to engage with prospects and existing clients around their lifestyle choices and their impact on longevity. The result, clients live their best lives—longer and more confidently—because they understand the choices in front of them and the subsequent impacts to their wellbeing, health, and wealth.”

Integrating Genivity into Lumiant’s platform gives advisors a complete picture of a client’s life, enabling them to tackle difficult or emotional conversations around health risks and care costs. Combined with Lumiant’s other advice engagement and modelling tools, advisors can deliver personalised holistic advice at scale.

“Both Lumiant and Genivity offer new ways to engage clients outside of their finances, focusing on delivering an experience that connects with the client, rather than a mere service. Over the last few years, we’ve honed our experience in relation to longevity and health planning within financial advice and as we thought about what’s next in that experience, it was clear that Lumiant is the perfect complement,” added Heather Holmes.

“The combined offering is a gamechanger and we can’t wait to help advisors have more enriching conversations with their clients because of it. As a result of this acquisition, we can broaden our scope and better enable clients to make more informed decisions about their life, health and wealth. This gives advisors the insight they need to deliver highly personalised advice at scale.”

Lumiant will continue to offer HALO as a stand-alone product that supports advisors in engaging clients and prospects on longevity planning and as a proven approach for driving lead generation into the advisor’s practice.

Lumiant also intends to deeply integrate Genivity’s proprietary algorithms throughout its platform to provide lifestyle and health overlays across its advice engagement tools. In doing so, not only can advisors discuss the financial trade-offs and levers they can pull with clients, but also what lifestyle levers they have available to help them achieve their goals.

“The Genivity business effectively doubles down on the Lumiant proposition of helping people lead better lives, not selling them better products. With the possibility of dynamic healthcare costs and “go go” years vs. “go slow” years of retirement overlaid on a client’s financial plan, our combined offering will give advisors and clients a deeply powerful tool that aligns their goals and dreams to their personalised timeline,” said Santiago Burridge, founder and Executive Chairman at Lumiant.

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The new integration uses Iress Open API to share client information from Xplan to Lumiant while automatically capturing client conversations and interactions from Lumiant in Xplan. Lumiant Global CEO, Santiago Burridge, described the new integration as a game changer for advisers looking to combine Australia’s most used advice tool with a world-class client experience.

“Xplan has been a leading CRM solution for advisers in the Australian market for many years. By integrating with Lumiant, those advisers can now combine its powerful CRM solution with a world-class client experience,” Burridge explains.

“Our integration will create more administrative efficiencies between the front and back office of advice firms, with client information automatically pre-populated in the Lumiant platform, speeding up the time to engagement. The integration also helps to deliver on our vision of creating an extraordinary compliant-by-design client experience by giving compliance teams a complete client engagement history that they can access quickly and easily.”

Lumiant’s integration with Xplan removes the need for double data entry. Xplan remains as the advice firm’s core CRM and client data repository, while the Lumiant platform powers client experience and advice engagement.

Both client personal details and insurance information are synchronised from Xplan to Lumiant. Lumiant uses the data to pre-populate households and clients in its platform. Advisers can begin engaging their clients with Lumiant’s advice engagement modules, helping them realise the value of advice much faster.

The integration automatically creates file notes in Xplan when essential activity is initiated and completed across Lumiant’s Your Life, Your Values, and Your Investment Preferences modules. Exports of Your Best Life Plan can also be file noted and stored as an attachment against the client in Xplan. This saves advisers time in documenting conversations and client interactions, with key activities being synchronized to Xplan for easy review by compliance teams.

Lumiant has integrated with Xplan using its standard integration template under Iress Open. The integration is available to all Xplan customers on Lumiant’s starter and professional subscriptions. Lumiant will integrate other fields in due course to continue to help improve efficiency for advisers.

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After launching in the United States in May, Lumiant quickly announced significant funding from strategic investor Savant Wealth Management and renowned financial advisor Ric Edelman. This funding, coupled with a growing U.S. sales team, will set the pace for rapid growth. Through its strategic partnership with Savant, Lumiant is already serving more than 100 advisors across the country, with more being added each month.

New hires Holt, Perry and Narayan will work to deliver Lumiant’s value proposition to prospective advisors, while building upon Lumiant’s tradition of personalized support for existing customers. Advisors who use Lumiant have experienced more engaged and committed clients, increased referrals, and improved revenue and retention.Laura Holt, CFP®, Head of Enterprise Sales: Based in Dallas, Holt previously served as the Vice President of Partnership Management at Goldman Sachs Personal Financial Management.

Nicola Perry, Regional Vice President of Sales: Based in Chicago, Perry previously held the position of Vice President of Enterprise Consultant at Envestnet, Inc., for seven years.

Arati Narayan, Customer Success Manager: Based in Chicago, Narayan previously served as Implementation Lead at Odeza. Before Odeza, Narayan was a Developer Program Consultant at Allscripts.

“The reception of Lumiant in the United States has exceeded our wildest expectations,” said Santiago Burridge, Lumiant’s Co-Founder and Global CEO. “We are thrilled to be strengthening our sales efforts to enrich the lives of more families while bolstering support for existing customers. Arati, Laura and Nicola bring a wealth of industry knowledge and experience to the team and are uniquely equipped to help advisors bring the intangible value of their advice to life for the clients they serve.”

Lumiant serves more than 4,000 families globally with its platform designed to deepen client relationships and help advisors communicate their unique value, while delivering tailored financial advice. Advisors can learn more about Lumiant, including white-label delivery and pricing options, by taking a free trial.

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Chris Dadej

Lumiant, an advice and ​client engagement platform that empowers advisors to connect with families around their values and money goals to make better choices and live their best financial lives, has announced its launch in the United States.

Lumiant currently serves nearly 4,000 families globally via its platform utilised by financial professionals, and is specifically designed to deepen client relationships and help advisors communicate their unique value while delivering tailored financial advice.​ Launched in Australia in February 2021, Lumiant makes financial advice more accessible by linking the experience, strategies, and recommendations to client values and life outcomes, rather than financial products and performance.

According to Santiago Burridge, Lumiant’s Co-Founder and Global CEO, an advice-led approach increases engagement with the couples and families who are the recipient’s of an advisor’s services. Lumiant’s platform gives advisors the tools to create deeper relationships with both the advisor’s primary point of contact as well as other household members and next-gen individuals.

For Burridge, this change is critical for firms to survive and demonstrate their value in a world in which low-cost, DIY fintech solutions and robo advisors are challenging advisors’ relationships with their clients. Additionally, Lumiant unlocks the full potential of your client base by better engaging the 50 percent of clients that are non-financially focused, which the incumbent financial services technology stack traditionally ignores.

“It is such a transformational time for the financial services industry, in the United States and beyond as technology has made an incredible impact on nearly every corner of financial services other than advice,” Burridge said.

“While product providers bring to market new technologies to distribute their solutions to the primary account holders, nothing has been built to better engage other decision makers and next-gen family members who might not have a direct line to the advisor, yet.”

“Having been an advisor for more than 15 years, I know that people are clamoring for a solution that heroes the intangible benefits humans bring to financial services–increased peace of mind, the ability to make confident decisions that help clients reach their life goals or develop better financial habits. Financial professionals are essential in delivering these benefits, so we developed a new innovation that brings every advisor’s superpower to life–their ability to help, guide and coach people to lead the lives they’ve always dreamed of.”

Through its memorable, measurable, and repeatable advice process, Lumiant allows financial professionals to scale their businesses, increase referrals, and  drive revenue while fostering multi-generational relationships.​

Burridge founded Lumiant in 2020 with partner Chris Dadej, now Chief Technology Officer/Chief Product Officer. In April, the company was recognised on FinTech Global’s 2022 WealthTech 100 list as one of the world’s most innovative WealthTech solutions. Out of 1,200 companies, Lumiant was recognised for its innovative use of technology to solve a significant industry problem while positively affecting the lives of investors around the globe.

“Traditional financial planning software largely exists to onboard a new client and help sell portfolio management or other financial products,” said Gavin Spitzner, President of Wealth Consulting Partners and a non-executive director of the board at Lumiant.

“Lumiant has been purpose-built to sustain deep, meaningful long-term advice-based, emotionally charged relationships with clients. I have yet to see another technology provider champion and engage all members of a household like Lumiant. This is advice engagement at its finest, helping bring everyone along the journey by helping them understand how their financial professional guides them toward their best life.”

Lumiant appoints US-based CEO

Coinciding with yesterday’s news, Lumiant is pleased to announce the appointment of Blake Wood as its U.S. CEO.

“I could not be more honored to lead Lumiant’s expansion into the U.S. and bring its fresh, deeply relational model of financial advice to advisors across the country,” Wood said.

“Every advisor that we serve has an incredibly moving anecdote, or 10, about how they’ve helped clients lead their best lives. We look forward to creating more uplifting stories rooted in financial clarity for American families.”

Wood joins Lumiant’s global mission from Envestnet, where he was key in scaling the fintech giant and served most recently as Senior Vice President of Corporate Strategy. Wood is a graduate of the University of Kansas.

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The Australian Good Design Awards is the country’s oldest and most prestigious international awards for design and innovation, with a proud history dating back to 1958. The Awards celebrate the best new products and services on the Australian and international market, excellence in architectural design, precinct design, engineering, fashion, digital and communication design, and reward new and emerging areas of design, including design strategy, social impact design, design research and up-and-coming design talent in the Next Gen category.

Built for financial advisers by financial advisers, Lumiant is on a mission to transform how advice is delivered. It has invested heavily in the design, user interface and user experience of its platform. Its structured and robust software supported advice process places client values at the heart of the experience, giving money meaning and empowering clients to live their best lives.

Lumiant’s behavioural finance and client experience platform received a prestigious Gold Good Design Award Winner Accolade in the Design Strategy category in recognition for outstanding design and innovation.

The Good Design Awards Jury praised Lumiant, commenting: “A great example of a well-executed service design platform and business model, which has emerged through the identification of an unmet need in the financial advice industry. Using life goals to drive financial literacy is such a smart and important innovation. You have mastered the artistry of final state mapping (via projections) to get people engaged now, and put the power in their hands, while exceeding regulatory demands and staying ahead of further potential regulatory frameworks. You have managed to reimagine a highly constrained industry with an elegant and engaging end to end experience for advisers and their clients. Hopefully, this has a strong positive impact on many people’s lives. Congratulations.”

Santiago Burridge, CEO of Lumiant, believes the award is a testament to the team’s hard work in delivering something unique to the financial advice industry that challenges the traditional norms.

“The financial services sector has been through significant change. Technology continues to drive new business models, from neobanks to micro-investing. At the same time, regulations push the industry towards a client-centric, robust operating model. Yet, with all this change, little has been done to update the experience,” he said.

“The current experience is anchored in financial products, compliance and addressing the Chief Financial Officer (CFO) of the house. This has made the advice experience very transactional, focusing on financial goals, performance and benchmarks. We wanted to change that.”

Lumiant worked with a close-knit team of financial advisers and brought in third-party human-centred design consultancy Tobias to turn the experience on its head. Instead of focusing on financial performance, Lumiant engages clients around their wellbeing. Focusing on what matters most to the ‘non-CFO’ spouse, who runs the family and measures success based on how closely they live their lives aligned to their values.

“With everything that has happened in the world over the last two years, we’re starting to see more people wake up and ask what they are doing with their lives. They might have managed to save some money during lockdown or had an A-HA moment and want to try something completely different. The old approach to financial advice would have crunched the numbers and come up with a strategy to accumulate wealth irrespective of your dreams,” continued Burridge.

“We’ve changed that. Working in partnership with Advisers, we can now have much better conversations with clients to understand what they truly value in life and what they want to achieve. And then have meaningful conversations where we discuss financial trade-offs to help them live their best life as quickly as possible.”

The 2021 Good Design Awards attracted a record number of submissions, with 933 design projects evaluated by more than 70 Australian and international Jurors, including designers, engineers, architects and thought leaders. Each entry was evaluated according to a strict set of design evaluation criteria which includes good design, design innovation and design impact.

Projects recognised with an Australian Good Design Award demonstrate excellence in professional design and highlight the impact a design-led approach has on business success and social and environmental outcomes.

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David Haintz

Software supported advice platform, Lumiant, has launched its new ‘Your Life’ module. The new module enhances the Lumiant discovery process by identifying what success truly looks like for clients by aligning it with their values.

Built for financial advisers by financial advisers, Lumiant is on a mission to radically transform how advice is delivered. Its structured and robust software supported advice process places client values at the heart of the experience, giving money meaning and empowering their clients to live their best lives.

In just over six months, Lumiant has grown a lot both in terms of team size and maturity.  Over 1,000 households are contracted on the platform with advisers helping clients to align their finances to their values. As the company continues to grow and work in partnership with financial advisers, Lumiant is further optimising its processes to meet and exceed market needs.

“We see our role to be one of collaboration with advisers. Where we work hand-in-hand to build and deliver the world’s best client experience platform. One that ensures what the client values is at the heart of the experience. The continued feedback we receive from our community has been invaluable and has enabled us to continue to optimise our platform to meet their needs,” said Santiago Burridge, CEO of Lumiant.

“One area which has required an overhaul is the tired fact-finding process. We have been repeatedly told that a fact find is what you have. But our research is telling us that uncovering how people feel is much more important, as we can influence, measure and anchor our experience in what we value. Working with advisers, we decided to reimagine our process to let clients scope their success against what they truly value in life.  Revitalising a process in much need of an upgrade.”

Today’s antiquated fact-finding processes focus on financial outcomes, determining a client’s income, debt, risk, investments, retirement and estate planning. This typically disengages the non-CFO spouse and sets the context of the engagement to be purely financial.

‘Your Life’ turns this process on its head. Using a short survey to better understand what life outcomes a client would deem a success, following their engagement with a financial adviser. The survey includes statements based around the Eight Dimensions of Wellbeing and positions the adviser’s value proposition immediately “Above the Line”, giving meaning to the financial output of the engagement.

“For a long time, I have been advocating for advisers to move their value propositions above the line and I believe we’ve now reached a tipping point; where advisers no longer purely manage people’s financial affairs but also support them in other areas of their lives. Time and again, it has been proven that this change in your value proposition can tap into an unmet and growing demand that leads to significant growth and profitability for advice practices,” said David Haintz, a Lumiant Ambassador.

“Your potential client base is crying out for a new approach. One that puts their values first. But often their first engagement with an adviser is all about money, product and compliance, which can be off-putting, boring and is a far cry away from delivering life first advice. The new Lumiant module changes that and places what clients really care about right at the start of the experience.”

A lot of care has also been put into the User Interface of the new module, ensuring it provides engaging takeaways for the client. Following the completion of the survey, clients are provided with an overall life score, a visual display of what matters most to them in their lives and how closely they are to living a life aligned with their values.

This data also provides financial advisers with the information they need to connect deeply with their clients in their follow-up session. Unpacking insights that enable them to quickly progress through a values-based advice session and create household values, which financial goals and strategies can be assigned to help clients to live their best lives.

“At Lumiant, we are all committed to engaging the non-CFO spouse as we know they are the decision-maker in the family. We also know the current advice process has intentionally disenfranchised them by anchoring the delivery of the proposition in investment products,” said Burridge.

“It is our hope that by changing the discussion and delivering on the promise of advice we can bring the enjoyment back to financial advice. This means giving money meaning and placing the client’s life at the heart of the experience. With client values at the heart of the experience, we have seen referrals increase as the process produces more meaningful outcomes that create clients for life,” said Burridge.

‘Your Life’ is a free module for Lumiant customers. It is available through the Lumiant platform. Advisers are able to send the survey to their clients at the click of a button or by sharing a link.

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