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Product Update: Surveys

Over the last quarter, the team has been working on some amazing updates that will enable you to engage and manage your clients more effectively using Lumiant's advice engagement financial planning software.

But firstly, a big thanks to our strategic investors, Savant Wealth Management and Invest Blue, as well as our Innovation Hub, who have been instrumental in co-creating these updates and testing them.

We also want to thank those customers who continually provide us with feedback, whether it be in their Customer Success meetings or via the Help Ring. All your inputs are recorded, assessed for product fit, and prioritized accordingly in our roadmap.

Up next: Our latest release.

Engage your clients using Surveys

Lumiant's advice engagement module Survey's

Previously called Originations, Surveys is our new survey launcher, which launches all of our Discovery and Data Collection modules. From today, using Surveys from the Household Workbench, advisors will be able to launch:

Different fact-finding surveys available in Lumiant's advice engagement financial planning software

The digital, personalized experience enables advisors to conduct much of their fact-finding throughout the discovery phase outside of client meetings. Clients can access the surveys anytime, on any device, with autosave functionality enabling them to progress at their own pace. Once complete, the surveys automatically populate Lumiant’s modules, ensuring your time is spent analyzing the information to provide personalized advice based on the client's situation.

Additionally, Surveys enables you to engage prospective clients with activities that differentiate your advice proposition, by going beyond the financials and asking them about their lives, dreams, and aspirations.

Surveys can also be used with existing clients to help track their progress and engage outside of the traditional advice review process. For instance, advisors could check how clients are progressing with each area of wellbeing by sending a Your Life survey. Or, they could see if the client’s goals have changed by sending a Your Goals survey.

man standing in front of a smartphone with Lumiant's Your Goals advice engagement survey behind him. He is selecting his most important goal - Purchase a new home

With Surveys you can now send multiple surveys inconjunction with others, enabling you to stitch together a tailored experience for each client. You can even define the order the surveys are completed in, enabling you to prioritize the information you’d like to capture first.

Here is a quick overview of each survey tool now available on Lumiant:

This is the same Your Life survey you can launch directly from the Your Life module.

From surveys, you can also toggle whether you send:

  • Client goals - which quickly captures goal categories clients want to address

  • Client connections - who and what communities are important to clients

  • Financial details - a quick financial fact find that starts populating Your Governance

Woman ranking her values cards in order of preference in Lumiant's advice engagement financial planning software

Your Values survey is a short version of our values session, where we enable clients to select and rank their top five values cards prior to the meeting. This means you can spend more time in the meeting unpacking why those values are important.

Additionally, you can toggle whether you include the “Three things” question, as this is a priming question that is used to get the clients to start thinking more deeply about their lives.

Your Goals is a very short survey that enables clients to capture any new goal categories that they’d like to include in their financial plan. Once captured, you can work with clients to set SMART goals or have them sign in to update the detail.

This is the same Your Investment Preferences survey you can launch directly from the Your Investment Preferences module. Launching it within Surveys enables you to stitch it together with any other surveys.

Our Governance survey is a self-directed client fact find. It enables clients to provide you with their:

  • Personal details, income, assets and liabilities

  • Insurance

  • Estate planning

Clients enter in their details manually and can complete it from any device, at any time and at their leisure, with the survey saving the details throughout the experience. Any details already captured in Lumiant are also pre-populated, meaning clients only need to fill in any gaps in the records.

A man connecting holding a credit card in front of advice engagement financial planning software Lumiant's Your Governance module
Top tip: Make sure the client has connected their accounts using our open banking and data aggregation connection with Yodlee. You can access this via Your Governance or Your Wealth. This will mean clients won’t have to provide details on these accounts and can focus their time on any gaps.

Governance will continue to be built out to include other information advisors need to collect during the fact-finding process, such as Income Tax Planning, Business Planning and Succession, Education Planning, and Charitable Planning. These are currently available in the Lumiant platform but are in beta currently. Any feedback on the information we collect within these individual surveys would be appreciated at this time as we look to connect this data throughout our other modules.

Foundations (beta)

Foundations is a new Survey we are launching to help pre-populate an initial Best Life projection. The idea is, using a few fields which can be quickly captured from clients, Lumiant will be able to provide insight as to whether they are on the right path.

Currently, the information captured in Foundations only pre-populates Your Governance and can be used as a “speed” fact find prior to your initial meeting with prospects. We suggest sending it in conjunction with Your Life if you do not intend to include the financial fact find within that survey.

In conclusion: Your Surveys removes the need for advisors to collect information in meetings by creating a purely digital experience for client communications, surveys, and insight, which can be completed from anywhere on any device. This gives you time back in your meetings to focus on what truly matters to your clients and deliver an engaging and transformational experience.

For more information, view our support article in our Help Center or book a demo with our team.

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