Mackay firm set to shake up financial advice industry
‘We’re asking … how do we help our clients live richly rather than dying with a mattress stuffed full of money?’
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A Mackay business is one of 11 firms part of a $1.1 million crowd-funding effort to revolutionise the financial advice industry.
Enlightened Financial Solutions financial planner Scott Jamieson said the Lumiant software would personalise advice, financial and life goals for customers like never before.
"We linked up with like-minded business to combine forces and help clients live the life they want," Mr Jamieson said.
"We're asking, what matters to them, 'how do we help our clients live richly rather than dying with a mattress stuffed full of money?'"
Mr Jamieson said Lumiant used 16 cards to help advisers identify their customers' values like wanting to give to charities, travelling twice a year or finding that work-life balance allowing them to be home for dinner with the kids.
"Clients will align their values based on the cards that are most important to them," he said.
"What we found is there's so many light bulb moments.
"For example, you could get someone come in that's 45 that wants to retire in 10 years.
"He's asking how to do it.
"Traditionally, an adviser goes straight into solution mode.
"They'll plug all their numbers into their software and it'll say you can't retire at 55.
"But what the adviser might not know is that this client's dad has died at 60.
"The most important thing in that client's mind is he doesn't want the same thing to happen.
"He's willing to save more, he's willing to sell his motorbike and caravan.
"There's all these different levers he can pull."
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Mr Jamieson said Lumiant also featured an interface for clients to use where they could track their progress and stay accountable for their life values.
"It's their responsibility," he said.
"For example, it might be really important to them to learn a new skill.
"That's where we keep someone accountable through their Lifebook.
"It's not just about the dollars and the cents.
"Clients want to be heard and they want people to understand them at a deeper level."
For more information about Lumiant and Enlightened Financial Solutions, phone 4957 1600.
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