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Introducing client segmentation: a new setting to deliver different experiences to different clients

An image of client segmentation a new feature in Lumiant's financial planning software. The image includes example diamond and standard clients.

This is a big update for Lumiant and will empower you to design bespoke digital experiences based on your client's needs.

How so? With client segmentation.

Client segmentation allows you to choose the modules and surveys available to which clients.

That means for some clients, you can design their experience so they can only see Your Life, Your Values, and Your Goals. And for others, you could enable the whole suite of modules.

Let me explain.

For most advisors, you’ll have a segment of clients that might not be as complex as the majority of your clients and don’t necessarily have the wealth to generate significant revenues for the firm. You’re essentially investing in them now so you can support them in the future when things get more complex and they have more wealth to be managed.

For this low-value segment, you might want them to have a more self-directed experience, with all surveys turned on. Allowing them to do most of the prep work prior to the meeting, so you can ensure your time is spent effectively.

Whereas higher value segments that require a higher level of service might have fewer surveys in their experience, as the firm wants to complete these experiences in the meeting as that’s part of the service offering.

A woman viewing client segmentation settings in Lumiant's financial planning software and selecting to show clients the life, values and goals modules, leaving the rest unchecked

For practice managers, client segmentation gives you the comfort and control over the experiences advisors can provide different client segments, based on their servicing needs. Being able to configure the Lumiant allows you to scale your advice experience in line with your segmentation model.

For advisors, it means they are able to control what clients can see and interact with when logging into their Lumiant client portal, activating those modules they need to engage with, while hiding those that may come later in the experience.

This offers your teams more control and the ability to personalize experiences for your different client segments. It means clients will feel like your experience is personally tailored to them and their needs.

Only practice managers will be able to add, edit and delete client segments, as well as enable and disable modules. While advisors will be able to link households to a client segment and can filter their client lists based on the different segments in their firm.

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