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Ric Edelman, founder of Edelman Financial Engines

Technology > Investment Platforms

Ric Edelman Takes Stake in Financial Planning Engagement Platform  

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Ric Edelman has taken a minority stake in Lumiant, an Australian fintech firm that created a financial planning advice engagement and client experience platform.

Edelman’s investment follows a $3 million investment recently made by strategic investor Savant Wealth Management.

Lumiant and Edelman did not disclose how much money he invested in the firm.

The new funding from Edelman will support Lumiant’s “mission to empower more individuals and their families to confidently live their best lives by engaging with their advisors in a unique, leading-edge values-based advice process,” the company said Monday in a news release announcing the investment.

The funding will also “accelerate Lumiant’s international expansion into the lucrative $52.9B U.S. financial planning and advice and the $142B accountancy services markets,” Lumiant said, citing IBISWorld data.

Lumiant, based in Sydney, Australia, debuted in the U.S. on May 17 and now serves 4,000 families globally, according to the firm.

Explaining why he decided to invest in Lumiant, the founder of Edelman Financial Engines and the Digital Assets Council of Financial Professionals said in a statement: “Lumiant’s advice process lets advisors uncover what’s truly important to their clients.”

He added: “The platform helps the advisor focus on offering solutions for where their client is headed, not where they’ve been. It does so in such an engaging and visual way that I’m convinced that any advisor who uses this service will be among the most successful in the business.”

“Having Ric Edelman’s support behind Lumiant is a testament to what we’ve built,” according to Santiago Burridge, Lumiant global CEO.

“We’ve reimagined the financial advice experience to help advisors center on life planning, giving them the tools they need so they can connect with their clients on an emotional level,” Burridge added. “This allows them to have incredibly meaningful conversations with clients, making their advice quantifiable, meaningful and measurable.”

(Pictured: Ric Edelman, founder of Edelman Financial Engines and Digital Assets Council of Financial Professionals)


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