Use Case: Demonstrating the real value of advisory services

Financial advisors are all about spotting investments and unlocking value for their clients, but ironically, they can find it challenging to demonstrate their own value. Giving clients the most comprehensive and usable view of their financial progress is a priority for advisors, but beyond numbers going up or down in a graph, it’s hard to show their value-add. Clients might feel that another advisor (or even none at all) could achieve the same result.

Treysta Wealth  is an integrated advice team based across Sydney, Gold Coast, and Brisbane that prides itself on its tailored, honest and flexible approach. The team empowers clients through integrated advice, building personalized financial roadmaps to meet individual financial and lifestyle goals. They work with individuals, families, and small and medium-sized enterprises (SMEs).

Treysta Wealth wanted to make the value-add of their advisors visible to clients from the very first meeting and was looking for a platform to enable this. Lumiant was the ideal tool to realise this vision, combining financial and values-based progression. They now rely on Lumiant to deliver a consistent, intuitive client experience that has smoothed their onboarding process and put values at the centre, allowing advisors and clients to move beyond just the numbers as a metric of value. 

Improve client onboarding 

Treysta Wealth is well aware that the onboarding stage of anything, especially wealth management, can often be clunky and overwhelming. Due to the sheer amount of data sharing required, it can seem like a long, endless checklist of documents to share with the client. 

Despite this being the first step in the advisory process, it can be one of the biggest hurdles, as it’s difficult for clients to see where it all fits into the bigger picture. By implementing Lumiant, Treysta Wealth wanted to build a more engaging and intuitive experience for clients. 

Using Lumiant, Treysta Wealth moved focus away from ticking items off a list to building a comprehensive picture of each client. This combines the more ‘boring’ financial details with discussions around pre-defined Key Advice Areas to map out how their financial strategies are actively working towards their personal goals.

With clients onboarded onto Lumiant right from the offset, they can instantly use the platform to view all outstanding tasks, split up into more digestible modules such as Goals, Governance, Vault, and Investment Preferences. By approaching the process holistically and focusing the conversation on the link between their personal goals and their Key Advice Areas from the very beginning, clients can see Treysta Wealth’s integrated advice approach in action. Treysta Wealth’s advisors also customize each section for each client, giving them that personalized experience from the word ‘go’. 

Using the Net Worth function, Treysta Wealth’s clients can also now directly connect and input all of their assets, accounts, and liabilities directly into the Lumiant platform with live data feeds. Gone are the days of endless financial forms and hours compiling financial fact-finding forms. Now, Treysta Wealth’s clients and advisors can view a complete view of net wealth instantly, making it easier to make better financial decisions. 

With this approach, Treysta Wealth has seen a significant increase in client engagement. Instead of needing reminders to upload documents, clients are now using the Lumiant platform proactively, uploading documents and completing tasks on their own.

“Our clients particularly love the Vault feature. They’ve told us that they feel more secure uploading documents here and we can see the difference. Clients are far more likely to upload documents into it than they were previously when it had to be shared over emails.”

Laura Mitchell, Business Manager at Treysta Wealth

Illustrate the value of advice 

Much of the focus in wealth management is (obviously) placed on the numbers. And while much of an advisor's role does focus on spotting and actioning new investment opportunities for clients, Treysta Wealth does more than this and wants to paint clients the full picture. 

With Lumiant’s platform as the one-stop shop for Treysta Wealth’s clients, the value-add of the advisor beyond just numbers is placed front and centre. Treysta Wealth’s advisors populate the task dashboard ahead of each client meeting, detailing the numbers side of things but also how that feeds into each client’s goals. Using such a customizable platform, Treysta Wealth can highlight the tailored design of each client’s advisory plan. 

By approaching each client meeting with the comprehensive view provided by Lumiant’s platform, Treysta Wealth’s advisors have built stronger client relationships and promoted deeper conversations around values. They’re able to showcase how each choice impacts the numbers and how it’s driving the client towards their overall life goals. 

“From the very first meeting using Lumiant’s platform, our clients can see exactly how each task is building towards their overall goals. Rather than just instructing, our advisors can demonstrate the ‘why’ behind each action they take.”

Laura Mitchell, Business Manager at Treysta Wealth 

Create a value-centric experience 

Like any other organization moving to a new platform, Treysta Wealth were conscious of the adjustment required for both clients and advisors alike. However, they knew that the move to Lumiant’s platform was the right one for them to make - cementing their integrated advisory approach at the core of their client experience. 

The move to Lumiant gave Treysta Wealth’s advisors instant and full visibility of each client’s tailored plans and current ongoing actions. As well as the tasks, all of the information and background on each client is also accessible from the platform, cutting out unnecessary admin tasks, and allowing advisors to focus on what really matters - the client. 

Since using Lumiant, Treysta Wealth has found that the platform has become synonymous with its services for clients. The combination of goals, Key Advice Areas, and the Net Worth function is something that their clients have yet to see anywhere else, and once they’ve used it, they don’t want to lose it. The alignment with individual client values makes for a much more intuitive and seamless experience than a parade of endless graphs and charts. Lumiant presents it in a way that truly matters and makes sense to the client, in how it will practically improve your life. 

“Lumiant has become an important part of our value proposition. When prospective clients experience the platform at the start of the process even before agreeing on an SOA, they love it. And once they love it, you’ve pretty much won the client right from the start.”

Laura Mitchell, Business Manager at Treysta Wealth 

Delivering real benefits for clients with Lumiant 

With the use of Lumiant, Treysta Wealth were able to transform how advisors present their value-add to their clients.  Emphasizing the advisor’s impact not just on their finances but also on the relationship that clients have with their finances has also led to increased client engagement and improved relationships. 

Lumiant has become the foundation for Treysta Wealth’s services, delivering a more intuitive and seamless experience for the client, making it easier for both clients and advisors to track progress toward those key value goals. Now, advisors don’t have to wade through graphs and figures to explain their work, Lumiant does all the hard work for them.