Luminary has raised $22 million in Series A funding to expand its AI-native wealth transfer and administration platform, bringing the company’s total funding to nearly $32 million. The round was led by fintech-focused growth equity firm Ten Coves Capital. BNY became a strategic investor, while 8VC also participated alongside existing investors Fin Capital, Focus Financial Partners, Rockefeller Capital Management’s FinTech Innovation Fund and several family offices.
Luminary converts static estate and ownership documents into structured, source-verified data that can be used by financial advisors, trust companies, law firms and accounting firms to manage wealth transfer and estate administration workflows.
The platform currently supports more than $500 billion in client assets. Customers include Caprock, IEQ Capital and Wealth Enhancement Group, along with tax advisory firms, Am Law 100 law firms and trust companies.
The new funding will support additional investment in Luminary’s AI capabilities and integrations, expansion into administration workflows and growth of its commercial organization as demand increases across the wealth management ecosystem.
Luminary uses human-in-the-loop AI to extract information trapped in estate documents and connect it with tools for visualization, reporting, scenario analysis, tax planning and trust administration.
Its products include Luminary Insights, which identifies planning opportunities, potential concerns and missing documents, and Estate 360, which converts an uploaded document into an automated, firm-branded estate overview.
The platform also includes standardized reporting tools, a deterministic tax engine that calculates federal, state, inheritance and asset taxes, and an estate waterfall that models and visualizes potential legacy-planning outcomes.
Luminary was founded around the idea that wealth transfer should be managed as an ongoing service rather than a one-time planning event. Its technology is designed to help advisors serving high-net-worth families scale guidance around tax-efficient wealth transfer, trusts, entity structures, administration, generational planning and charitable objectives.
KEY QUOTES:
“Scaling wealth transfer services starts with data that can serve as a single source of truth for advisors and the families they serve. We’re proud to back Luminary as it delivers a platform that helps advisors bring a new standard of care to their clients. Trillions of dollars will change hands in the years ahead as wealth passes from one generation to the next, and we believe Luminary is the solution that will give advisors the information and tools to deliver the proactive guidance and support services that their clients expect.”
Steve Piaker, Founder and Managing Partner of Ten Coves Capital
“We started Luminary to democratize the kind of advice and service previously accessible only to a select few, family-office clients. The AI-era has come along at an ideal time to solve the data and collaboration challenges that have impeded the pace of innovation and limited the delivery of personalized wealth transfer planning and administration services. As access to sophisticated investment and banking products have become more ubiquitous, tax and wealth transfer are the new alpha for high-net-worth clients. We are grateful to our investors who share our vision and are excited to support our customers’ growth and strengthen their client relationships in the years to come.”
David Barnard, Founder and CEO of Luminary
“You hear a lot about the great wealth transfer, but nobody is covering the real story: the fact that the tools built to handle it are decades behind the money. Sophisticated trust and estate strategy has historically been available to the ultra-wealthy on a one-off basis, running on spreadsheets, PDFs and institutional memory. Luminary is the infrastructure and data layer that gives advisors the tools for the moment families shift from building wealth to creating a legacy, however they choose to define it.”
Joe Lonsdale, Founder and Managing Partner at 8VC
