Savant Wealth Management invests $3M in advice engagement platform Lumiant

Savant Wealth Management invests $3M in advice engagement platform Lumiant

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, announces it has secured a $3 million investment to support its expansion in the United States from strategic investor Savant Wealth Management.

The move will accelerate Lumiant’s international expansion into the lucrative $52.9B U.S. financial planning and advice and the $142B accountancy services markets.

Founded in Sydney, Australia, Lumiant is specifically designed to deepen client relationships and help financial professionals communicate their unique value while delivering tailored financial advice.​ The company officially launched in the United States on 17 May and aims to use its new resources to bankroll rapid expansion in the country.

“We couldn’t ask for a better strategic partner than Savant. For more than 30 years, they have committed to applying the smartest financial thinking to serve individuals and their families in a fiduciary capacity. Savant’s approach, values, and interests align with ours. We look forward to working with them to ensure our platform drives referrals, retention and revenue for firms in the United States, as well as helping more people live their best possible lives,” said Santiago Burridge, CEO and Co-founder of Lumiant.

Savant is a leading independent, nationally recognised, fee-only firm offering investment management, financial planning, retirement planning, accounting and family office services, with$13.5B in assets under management (as of March 31, 2022). As Lumiant’s first customer in the United States, Savant will be taking a minority stake in Lumiant’s U.S. business.

Savant CEO and Founder, Brent Brodeski, said, “We wanted a tool that would enable us to deliver advice in a more understandable, tangible, measurable and efficient manner, no matter the financial literacy of our clients. We found what we were looking for in Lumiant and are lucky to have the opportunity to invest in the company’s future. Its advice engagement platform is a perfect fit for Savant as we look to support our employee-owners and others to enhance the outstanding value and service we deliver to clients.”

The Lumiant platform will be used by Savant to better align assets, decisions, and strategies with client priorities and values. It will also support the delivery of advice in a consistent, scalable, and efficient manner, maximising the time and effort of Savant advisors to provide wise counsel.

Following Savant’s investment, Brodeski will now take a seat on the Lumiant board to help the company achieve its American aspirations. Brodeski joins Gavin Spitzner, President at Wealth Consulting Partners, and Matthew Brinker, Managing Partner at Merchant Investment Management and a former United Capital executive, on the Lumiant board.

Advisers can learn more about Lumiant, including white-label delivery and pricing options, by taking a free trial.