FAQ
Frequently asked questions about Luum Wealth.
Is Luum Wealth available in Canada and the US?
Yes. Luum Wealth supports Canadian investors (TFSA, RRSP, FHSA, CAD billing) and US investors (401k, IRA, Roth IRA, HSA, USD billing). Your tax location is set during onboarding and can be changed in Settings → Region & Currency.
Is my brokerage data secure?
Luum never stores your brokerage login credentials. Connections are made through Snaptrade, a regulated open-finance platform. Your brokerage credentials are held by Snaptrade and encrypted with AWS KMS. Luum accesses only read-only position and transaction data — it cannot execute trades on your behalf.
Does Luum Wealth provide investment advice?
No. Luum Wealth is an analytics and educational tool. Nothing in the app — including the AI Strategy page, Ticker Scores, or any other output — constitutes personalised investment advice, a suitability assessment, or a trade directive. Always consult a qualified financial advisor before making investment decisions.
Can Luum support or engineering staff see my financial data?
No. Luum's admin and support tools are designed to never expose user financial data. Support staff and engineers cannot view, access, adjust, or modify your holdings, positions, transactions, goals, or watchlists. The only action support can take affecting financial data is full account deletion, which cascades all records as a side effect.
What brokerages are supported?
Luum connects to brokerages via Snaptrade, which supports most major Canadian brokerages (Questrade, Wealthsimple Trade, TD Direct, RBC Direct, CIBC Investor's Edge, Scotia iTRADE, and others) and US brokerages (TD Ameritrade, Schwab, Robinhood, Fidelity, and others). The full list is shown in the brokerage connection flow.
How is my adjusted cost base (ACB) calculated?
Luum calculates ACB using the average-cost method, which is required by the CRA for most Canadian investors, and pools it across all of your non-registered accounts as the CRA requires. ACB is updated automatically as transactions sync from your brokerage. Foreign-currency dispositions are converted at the Bank of Canada rate for the trade date. Note: Luum does not apply superficial-loss adjustments, and it cannot see a stock split your broker never reported as a transaction. Always verify with a tax advisor before filing.
What is the 30-day free trial?
When you create a Luum account, you automatically receive a 30-day free trial with full access to all features — including Wealth-tier AI and tax reporting. No credit card is required. After the trial, you move to the free Starter tier (one portfolio, no brokerage sync, core analytics). Upgrading to Investor or Wealth restores full access.
What are AI answers?
AI answers are used for Wealth-tier AI features: Portfolio Chat, Investment Strategy refresh, IPO analysis, and others. Wealth subscribers receive about 65 AI answers per month. Answers carry over (capped at 400). Additional answers can be purchased in bundles ($4 for 50, $10 for 150, $30 for 500). Each feature deducts a fixed number of answers per call (1 for fast, 3 for standard, 5 for deep analysis).
How do I cancel my subscription?
Go to Settings → Billing → Manage Subscription. This opens the Stripe Billing Portal where you can cancel, change, or pause your plan. Cancellation takes effect at the end of your current billing period.
How do I delete my account?
Go to Settings → Account → Delete Account. Account deletion is permanent and cascades all financial data. Because Luum staff cannot access your data, deletion cannot be reversed after the grace period.
Can I use Luum without connecting a brokerage?
Yes. You can create a manual portfolio and enter your holdings and transactions by hand. The free Starter tier also includes a demo portfolio with 10 pre-populated positions so you can explore all features before connecting. A live brokerage connection requires the Investor or Wealth tier.
How often does my portfolio data sync?
Brokerage positions and transactions sync automatically approximately every hour. Market prices (quotes) update every few minutes during trading hours and settle overnight. You can trigger a manual re-sync at any time from Settings → Connections.
What asset types are supported?
Luum supports stocks and ETFs listed on Canadian (TSX, TSX-V) and US (NYSE, NASDAQ) exchanges. Options, crypto, bonds, and GICs are not currently supported. If your brokerage reports these as positions, they will appear as unrecognised holdings and will not have market data, Ticker Scores, or ACB tracking.
What happens when my trial ends — do I lose my data?
No. When your 30-day trial ends, your account moves to the free Starter tier. Your portfolios, transaction history, and settings are all preserved. You lose access to brokerage sync (Investor tier feature) and AI tools (Wealth tier feature), but your data remains intact. Upgrading at any time restores full access.
What happens to my data if I cancel my subscription?
Cancellation takes effect at the end of your current billing period. Your account reverts to the Starter tier — your data is preserved but brokerage sync and AI features are paused. Your data is never deleted due to a subscription cancellation. Only an explicit account deletion removes your data.
Can I import historical transactions manually?
Not via CSV import at this time. For manual portfolios, you can enter transactions one by one through the Add transaction flow. For connected brokerage portfolios, Luum pulls up to 24 months of history automatically on initial sync — the depth depends on what your broker makes available through Snaptrade.
Why are my holdings showing the wrong price or a stale value?
Prices only update during market hours. Outside of trading hours, you will see the last close price. During trading hours, if a price looks significantly wrong, try a manual re-sync from Settings → Connections. If the issue persists across multiple trading sessions, contact support with the affected ticker symbol.
What currencies are supported, and how does FX conversion work?
Luum supports CAD and USD as reporting currencies. Your reporting currency is set during onboarding and can be changed in Settings → Region & Currency. Holdings in a foreign currency are converted to your reporting currency using a daily spot rate sourced from the Bank of Canada (for CAD users) or EODHD. FX conversion affects your displayed portfolio value and returns but does not change the underlying cost basis used for tax reporting.
Can I use Luum if I have accounts at multiple brokerages?
Yes. On the Investor and Wealth tiers you can connect as many brokerage accounts as you have. Each connection creates a separate portfolio. Your dashboard aggregates all portfolios into a single net worth and allocation view. You can also view each portfolio individually.
How do I contact support or report a bug?
Email support@luumwealth.com or use the in-app Help Centre (click the ? icon in the sidebar). For bugs, include a description of what you expected vs. what happened, the page or feature affected, and your browser and operating system. Support staff cannot view your financial data but can see error logs and connection status.
How do I reset my portfolio data?
Resetting is different from deleting your account — it wipes your portfolio's transaction history and positions so they can be re-pulled fresh from your broker, without removing your account, settings, or goals. To reset a portfolio: go to Portfolio Settings → Reset portfolio data, confirm the reset, then trigger a manual re-sync from Settings → Connections. This is useful if a sync error has corrupted your transaction history or ACB. Note: reset is irreversible — any manually entered transactions will be lost.
How do Goals work?
Goals let you set a financial target (retirement, home purchase, education, etc.) with a target amount and date, then link specific portfolios toward that goal. Progress is calculated as the current market value of all linked accounts divided by your target. The demo portfolio is always excluded from goal calculations. Goals update automatically as your linked portfolios sync. You can have multiple goals; one can be designated as your primary goal, which appears as the gap-to-goal card on your main dashboard.
How does Luum evaluate my investing strategy?
The Strategy page (Wealth tier) analyses your portfolio across five dimensions: allocation drift from your target weights, concentration risk in single stocks or sectors, estimated fee drag from ETF MERs, dividend income yield, and benchmark return gap. An AI model then generates a plain-language summary of your positioning, flags the highest-priority issues, and produces suggested trades to reduce drift. It also runs Monte Carlo simulations to project portfolio value over 10 years. This analysis is educational — it does not constitute personalised investment advice and does not account for your full financial picture, tax situation, or individual circumstances.
Still have a question? Email us or use the in-app Help Centre.