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Advice platform moves on cease and desist letter demands
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Astute Wealth Advice and Lumiant reach agreement over copyright concerns
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Advice platform hit with cease and desist by fintech provider
Advice platform hit with cease and desist by fintech provider
A goals-based advice platform has been issued a cease and desist letter by a fintech provider alleging “substantial copyright breach”.
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Astute Wealth Advice, creators of engagement platform AstuteWheel, served the letter to Lumiant on Monday in regard to a financial health questionnaire.
Astute Wealth has alleged 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.
“It is extremely disappointing to discover that a financial services company appears to have copied our material,” Astute Wealth managing director, Hans Egger, said.
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Creators of client engagement platform AstuteWheel, Astute Wealth, have sent a cease and desist to advice platform Lumiant as it alleges it has breached copyright over a financial health questionnaire.
Astute Wealth alleged the
Lumiant Confidence Questionnaire replicated the functionality and used the same words as almost all of the text in AstuteWheel’s 5-minute Health Check, which had been offered by Astute Wealth since 2011.
Astute Wealth intended to commence proceedings against Lumiant, unless certain terms were met by 20 July, 2021:
Lumiant informed all clients who had used the questionnaire that the questionnaire infringed Astute Wealth’s copyright;
Lumiant ceased to make the questionnaire available;
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