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How Surveys fits in your Lumiant-enhanced financial planning experience

With the launch of Surveys, we wanted to help you understand how it could fit into your current processes. So, we thought we'd write up a few examples of how you can use it in various stages of the client's journey with you.


Three advisors are building out a client profile using Lumiant. One advisor is adding their values, another points to their goals and other profile information. One advisor sits on top of the profile adding in information using a laptop

During the discovery meeting phase

The discovery meeting is a key meeting in the onboarding process. It is specifically designed to balance the Advisor demonstrating their expertise, with a consultative process that allows the Advisor to demonstrate they holistically understand the client, their values, and goals to “facilitate” the client’s financial plan.


We recommend combining Your Life, Your Values, and foundations before your discovery meeting with clients. It'll give a client a snapshot into your experience - that you go beyond finances and support them in designing their best lives.


It will also save you time in the discovery meeting as you would have collected the data you need before the meeting, allowing you more time in the conversation to unpack their most important aspirations without overwhelming them with financial data.


Using this survey combination is a great way to initiate the relationship and engage financial and non-financial clients from the get-go, as the experience starts by identifying what's most important to them.

Two advisors updating a client's financial planning strategy using Lumiant's financial planning software. One advisor is changing the allocation strategies in Your Best Life, while the other adds Investment Planning as a key advice area. The clients Best Life report and Goals timeline is also shown in the background.

During the strategy phase

The strategy phase is a crucial moment in the financial advice experience. It's where you combine the client's life and values with their financials and preferences. By this stage, you should have context around what the client wants to achieve and why. Now it’s time to get the detail.


Once you have the detail, it's time to bring your advice to life in your strategy meeting by visually overlaying their finances, your strategies, and their life ambitions over the course of their lives. However, too often, time is spent gathering and finalizing a client's information and preferences during this session - time that could be better invested in showing clients how you can help them live their best lives.


We recommend combining Your Governance and Your Investment Preferences to get the information you need to build a personalized plan before the strategy meeting.


Your Governance provides the client with a self-directed fact-finding survey that they can complete at their own pace at any time. The data collected is essential for Your Best Life and will help power your projections to see if the client and their household are on track. The data should provide insight into what Key Advice Areas you could implement to help them chart a course toward living their best lives.


Your Investment Preferences (only available in Australia currently) helps determine the client's investment preferences. This will help guide you in portfolio construction and understanding what Key Advice Areas would better meet a client's needs.


Using this survey combination saves time in meetings finalizing a client's position and preferences. Meaning both you and the client are investing your time in a meaningful conversation around the different strategies they need to implement to improve their wellbeing and live their best lives.


A car is on a road to the clients best life. On the road is the clients social, physical and occupational progress as captured by Lumiant

During the progress phase

Traditionally, this would be called the "Review" phase. But we hate that terminology at Lumiant as, while it's important to learn lessons from the past, we should focus on what we can change today and tomorrow to progress on our journey to living our best life. Looking backward won't necessarily keep you on track.


Let's put it this way: imagine yourself in the driver's seat of a car with your windscreen. We all know it’s more important to look at the road and focus on where we're going. It certainly would not be wise to focus all your attention looking in the rearview mirror and crashing.


This is similar when it comes to clients. We should focus on their future and what’s more important- their best life - with small glimpses in the rearview mirror to understand their surroundings.


This is why we call it a “progress meeting” rather than a “review experience.” We’ve designed the Lumiant enhanced progress meeting like this car windscreen. Forward-looking towards your client's best life with the most amount of time thinking about what's ahead. With a bit of time in the rearview mirror to look at what we’ve achieved since our last progress meeting. A check in on your car dash to see the metrics that matter and lastly, a look at your fuel gauge, i.e., your investments to see if you have enough to reach your destination.


We recommend using a combination of Your Life, Your Goals, and Your Governance during this phase, primarily to help capture what's changed.


The Your Life survey gives you a point-in-time snapshot of how they are tracking in life.

Completing the survey allows you to track their progress against their eight dimensions of wellbeing. Reading their results, you should see how your advice has helped them feel better about certain areas of their lives. It will also give you insight into the areas you might need to help them progress in, helping guide your planning conversation for the year ahead.


Your Goals will give you a quick insight into any big goals coming your way. The survey allows clients to flag any goals categories important to them in the coming year, giving you a good idea of what you might need to cover in your upcoming progress meeting.


Your Governance pulls through all the detail in the platform you already have, allowing clients to easily update their currently held data without having to go through it all again in the meeting. Instead, they only update the fields that have changed, making it a much more straightforward exercise in gathering the critical data you need to run your projections.


Combine any survey to create your own unique experience


These are just a few examples of using Surveys throughout your Lumiant-enhanced financial planning experience. However, it has been designed to enable you to send any combination of surveys to suit your experience and your clients' needs.


We know every firm’s process differs as you add your flavors to your experience. Our team is on hand to help guide you and work with you to identify where Lumiant best fits in your client experience, as well as your financial planning software tech stack. If you haven’t yet had an experience mapping session, you can book one with our Customer Success team here.


As always, let us know your thoughts on this article by giving it a rating. We’d also love to hear how you’ve used our surveys within your process - what’s worked and what’s not, so feel free to let us know in the comments below.


Until the next time, here is to you living your best life.


By Elise Little, Customer Success Lead at Lumiant

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