Advice platform moves on cease and desist letter demands

A goals-based advice platform has acted on a cease and desist letter issued by a fintech provider.

Astute Wealth Advice, creators of engagement platform AstuteWheel, confirmed that it has reached an agreement with Lumiant in regard to a financial health questionnaire.

Earlier this month Astute Wealth issued a cease and desist, alleging Lumiant’s “Lumiant Confidence Questionnaire” uses “substantially the same words as almost all of the text in AstuteWheel’s 5-minute ‘Health Check’”, which launched in 2011.

Astute Wealth also alleged that the rating questions and scores in Lumiant’s questionnaire are “very similar” to their health check survey.


The company originally said it intended to commence proceedings against Lumiant unless “certain terms” were met this week.

“In response to the concerns raised in our letter, I am pleased that Lumiant has complied and has removed all offending material from its platform and has agreed to disable all third-party access to the Questionnaire, delete all electronic records of it, inform all clients of the breach and desist from reproducing AstuteWheel’s 5-Minute Financial Health Check,” Astute Wealth managing director, Hans Egger, said in a statement released on Thursday.

“Lumiant has fully co-operated with us, and we now consider the matter closed.”

Advice platform moves on cease and desist letter demands
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