Financial planning software that helps people live richer lives
How Lumiant's making personal investing easier, more relevant, and fun
Introduction
Personal investing can be tough, and it's easy to get lost in the financial jungle. You might go to the bank or meet with a financial advisor, tell them you want to invest, and they give you some options. But after that, you're on your own. You don't hear from them much, and when you do, it's often just a bunch of documents that are hard to make sense of.
It's like getting a medical scan and trying to figure it out yourself. The advisors do their thing, picking stocks and other investments, but it's pretty boring if you're not into money stuff. Even the fancy software that shows how your investments are doing isn't much fun to look at.
Now, imagine a company that changes all that. They make investing clear and engaging, showing you how your finances grow and how that impacts various areas of your life. This is the story of Lumiant, and how they're making the world of personal finance a lot more exciting for everyone.
About Lumiant
In the often intimidating landscape of financial planning, Lumiant stands out as a shining light of innovation. Their mission? To create highly engaging, memorable, and measurable experiences that make investing not just a matter of numbers but of values and life goals.
Lumiant believes that when your finances reflect what's important to you, you're more committed to the journey of financial growth. This isn't just about making money; it's about making money meaningful.
The founders, a group of forward-thinking financial advisors, realized that the industry needed a change. They wanted to create a tool that would support goal-based advice together with values-based living. With insights from behavioral economics and well-being research, they developed an app that's both a guide and a companion for the investor's financial voyage.
The challenge: Keeping investors engaged
Financial advisors know that to keep clients around, and attract the next generation of investors, they need to do a few things:
- Create powerful experiences
- Make clients feel like they're part of the process, not sitting on the sidelines
- Show them the data in a way that is relevant to their lives
But here's the problem: the tools they have aren't fit for the job.
Excel is good for number-crunching but is limited in its ability to bring that data to life. Even when advisors use dedicated modeling programs like Xplan or MoneyGuidePro, the output is more designed for them - it's still a bunch of charts and numbers that most people find boring or confusing. None of this software really helps clients understand what's going on.
Why advisors don't want clients feeling "meh"
This is a big deal because if clients don't get it, they don't stay engaged. And if they're not engaged, they're not going to stick around for long. It's hard for advisors to show the value they bring when their tools make investing look like a chore. This can hurt their business because clients might not see the point in sticking around or telling their friends about the service.
So, advisors face a challenging situation. If they don't find a way to make investing understandable and attractive across different age groups and financial backgrounds, they risk losing clients and missing out on growing their business.
It's all about making finance feel less like homework and more like a journey investors can be excited about. Engagement is the name of the game, and without the right tool, it's a game that's hard to win.
How does Lumiant make personal investing more engaging?
Lumiant knows that finance is a tool for living, not the other way around. Their app transforms the dull task of tracking investments into an engaging part of everyday life. It has 13 modules designed to help advisors connect with clients around their lives, values, and finances. The modules are split into three categories:
- Discovery & Lead Generation: These modules help advisors attract new clients and get to know them better, aligning investors' values with their financial goals through surveys and interactive experiences.
- Fact Finding & Information Gathering: Here, clients provide advisors with a clear picture of their current financial situation thanks to Lumiant's data aggregation and open banking technologies.
- Advice Engagement & Delivery: The app helps advisors link client values and life goals to their financial strategies and provides a visual view of how their plan will empower them to live their best lives confidently.
Investors enjoy the app because it makes financial planning less about dry numbers and more about achieving actual results in real life. They can see how their financial choices affect real-world goals, even simple ones like going on a trip or buying a car.
We're really trying to bring the value of financial advice to life, but really kind of map it to your life outcomes and living your best life and living a rich life rather than just getting rich.
Lumiant for the win
Here's how Lumiant makes an impact on the way people invest – and live their lives:
- The Ripple Effect: Great experiences become the stories we share. Advisors leverage Lumiant's platform to create a referral network powered by satisfaction and success. Clients stay involved, not because they're obliged, but because they're excited about what their financial future holds.
- Interactive Financial Planning: The app's interface is designed for interaction, inviting clients to engage with their financial plan actively. Clients can play with scenarios, understand the impact of their choices, and feel empowered to make decisions that align with their life's direction.
- Advisor-Client Collaboration: Lumiant helps advisors and clients connect on a deeper level and work together as partners. The platform's tools facilitate meaningful conversations, and clients are involved and informed every step of the way.
- Award-Winning Design: The app's functionality isn't the only impressive aspect. It's UI has won a good design award, showing Lumiant's commitment to excellence and its role as a differentiator in the industry. And it gives people another reason to love using it.
By turning the mundane task of financial planning into an inspiring journey, Lumiant isn't just winning the game of engagement - they're changing the rules entirely.
How Handsontable helped Lumiant build a user-friendly financial journey
Handsontable has made life much simpler for Lumiant. By integrating the JavaScript data grid into their solution, they didn't need to spend time making their own tables and graphs. With a small development team, the ability to plug and play with Handsontable's robust features allowed Lumiant to focus on their own business needs.
Through Handsontable's extensive documentation and configurable options, Lumiant can really customize their app's user experience. They use the JavaScript data grid to display data in a way that makes sense to investors, especially when it comes to visualizing timelines and financial projections. Handsontable has played an important part in transforming complex financial data into clear, actionable insights.
Growing the app and the business
Handsontable's also enabled Lumiant to quickly bring to market the interactive, visually engaging modules that make up their app, going from three to thirteen in just two years.
This has created a domino effect on Lumiant's business growth. By enabling them to provide all of this functionality to advisors and their clients, Handsontable has helped Lumiant highlight the impact of financial advice on life goals. This has enhanced investors' understanding and satisfaction, motivating them to share their experiences with people they know, which has contributed to Lumiant's business expansion through referrals and word-of-mouth.
All in all, Lumiant's found a powerful partner in Handsontable.
