Ric Edelman has taken a minority stake in Lumiant, an Australian fintech firm that created a financial planning advice engagement and client experience platform.
Edelman's investment follows a $3 million investment recently made by strategic investor Savant Wealth Management.
Lumiant and Edelman did not disclose how much money he invested in the firm.
The new funding from Edelman will support Lumiant's "mission to empower more individuals and their families to confidently live their best lives by engaging with their advisors in a unique, leading-edge values-based advice process," the company said Monday in a news release announcing the investment.
The funding will also "accelerate Lumiant's international expansion into the lucrative $52.9B U.S. financial planning and advice and the $142B accountancy services markets," Lumiant said, citing IBISWorld data.
Lumiant, based in Sydney, Australia, debuted in the U.S. on May 17 and now serves 4,000 families globally, according to the firm.
