Luminary

Background

$70 trillion in wealth will be transferred over the next two decades. This is a rapidly accelerating phenomenon with nearly $10 trillion expected to transfer in the next 5 years alone, more than four times the amount of the last five years. For wealthy individuals and owners of complex assets like private company shares, advanced wealth transfer strategies can significantly increase the capacity to give to family and philanthropy - over a 30 year time horizon, an asset owner using tax efficient transfer techniques can increase her giving by more than 50% - but these strategies are tremendously underutilized due to cost, complexity, and lack of technology.

Problem

Even as digital access to basic consumer financial products has been commoditized, comprehensive software tools supporting complex trust & estate planning strategies - tax efficient transfer to family and philanthropy - are nonexistent, leading to significant cost and friction borne by wealth owners and their advisors alike. We estimate legal fees paid by wealth owners at more than $500 million/year, and administrative and opportunity costs to wealth advisors at more than $750 million/year.

Our solution

Luminary is building the first SaaS solution that will fully automate and digitize the complex, inefficient and costly trust & estate planning process. As service models evolve, a comprehensive trust & estate planning solution will be a critical aspect of enabling wealth advisors to create a full service offering for their clients, while increasing the efficiency of their practice and lowering operational costs. Our product will empower wealth advisors and creators alike to optimize giving around their business, family, and philanthropic goals to help them find meaning in their money, while also lowering overall costs.

Over the longer run, the new generation of asset owners will look for technology solutions to help them more comprehensively manage and make decisions around their wealth. tribAlpha will uniquely meet the needs of next-generation asset owners with an integrated investment and advisory service platform that enables wealth owners, especially those who hold complex assets, such as business owners, founders and creators, to have a one stop shop for managing their wealth.

Company info

• We incubated the company with 8VC (backers of companies like Asana, Flexport, Oculus and Wish) and Joe Lonsdale (founder of Palantir and Addepar) sits on our board
• Our founders are the former Head of Private Wealth Management at AllianceBernstein and the former Head of Product at Blend
• We have raised $2 million in seed funding
• We have direct access to complementary platform partners in the 8VC portfolio including Addepar and LIT which give us significant product and go-to-market advantages, and are in early partnership discussions with both

We earnestly believe that Luminary represents a one-of-a-kind opportunity to have massive impact at profitable scale —and to have a ton of fun along the way.