Ric Edelman invests in Sydney-founded advice platform

A Sydney-founded, goals-based advice platform has received funding from the famous US financial adviser, Ric Edelman.

Lumiant confirmed that Mr Edelman's investment will support its mission to “empower more individuals and their families to confidently live their best lives by engaging with their advisers in a unique, leading-edge, values-based advice process”.

Mr Edelman founded Edelman Financial Services (later Edelman Financial Engines) which manages nearly $300 billion in assets for 1.4 million households.

“Lumiant's advice process lets advisers uncover what's truly important to their clients,” Mr Edelman said.

“The platform helps the adviser 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 adviser who uses this service will be among the most successful in the business.”

Lumiant’s global CEO, Santiago Burridge, said the support of Mr Edelman is a testament to what the company has built since launching in Australia in February 2021.

“We've reimagined the financial advice experience to help advisers centre on life planning, giving them the tools they need so they can connect with their clients on an emotional level,” Mr Burridge said.

“This allows them to have incredibly meaningful conversations with clients, making their advice quantifiable, meaningful and measurable.”

The news comes after Lumiant expanded to the US in May and secured a $3 million investment from strategic investor, Savant Wealth Management in June.

Following the US expansion, Lumiant also announced the appointment of Blake Wood as its US CEO who moved from Envestnet, where he most recently served as senior vice president of corporate strategy.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.