Luma Financial Technologies Introduces Latest Annuity Feature: “Luma Compare”

Luma’s completely objective platform now offers advisors an advanced tool to provide instant price discovery and test of a diverse range of annuity products for client use

Luma Financial Technologies (“Luma”), the world’s top independent and most objective, multi-issuer structured products and annuities platform, is pleased to announce the onboarding of their latest annuity-focused tool, “Luma Compare.”

Luma Compare, which lives within Luma’s award-winning platform, removes many of the past challenges that advisors faced when transacting in the annuity marketplace. As the first annuity comparison tool in the market, this new feature streamlines product price discovery by allowing advisors to instantly select, compare and test different annuity products, including Variable Annuities, Fixed Index Annuities and Registered Index Linked Annuities. By simplifying the selection and transaction process, Luma Compare gives advisors increased confidence that they are offering the most appropriate solution to help their clients meet their financial objectives, while remaining compliant with Regulation Best Interest (“Reg BI”).

“An advisor’s ability to ensure they’re offering annuity products that are appropriate and suitable for their clients’ goals, while remaining compliant with Reg BI requirements, is now a task that can be swiftly accomplished,” said Keith Burger, National Sales Director for Annuities at Luma Financial Technologies. “When you look at our current market environment of minimal low fixed-income yields, high levels of volatility, and fears of mounting inflation, it’s easy to see the attractiveness of the annuity category. Through our full-service annuity sales and annuity maintenance platform, we’re proud to provide our users with the necessary tools to reduce much of the friction that has previously hindered the transacting of the product set. By delivering a more efficient and effective investment experience, Luma hopes to aid advisors in helping their clients reach their income goals.”

Luma’s market-leading technology platform, which is backed by three of the world's largest banks, was spun out of Navian Capital in 2018 to serve the structured product marketplace, and expanded into the annuity space in February 2021. Since making the leap into the category, the turnkey Luma annuities solution has gained enormous traction amongst financial advisors due to the platform’s advanced technology features that provide users with:

• Unparalleled access to top-quality training on annuity product sets
• The ability to compare rates, riders, and product features to make the most informed decisions for clients
• Elimination of disjointed processes and manual checks and balances to streamline the annuity sales process
• Wide-ranging access to all annuity product types through Luma’s carrier-neutral platform
• Ease of mind that products are chosen with clients’ best interests in mind

“At Luma, our mission has always been to simplify the complex,” said Tim Bonacci, Chief Executive Officer at Luma Financial Technologies. “Non-liquid alternative investments, such as annuities, have many attractive attributes, but can be perceived as complex and difficult to explain and understand. As is the case with all the tools offered on the Luma platform, we’re providing the necessary technology to enable advisors to bring product-specific information to their clients in a simplified manner. We’re excited about helping the industry and look forward to continuing our efforts to drive the adoption of these and other related products.”

For more information, click here to visit the “Luma Compare: Annuities” webpage.

About Luma Financial Technologies

Luma Financial Technologies is the creator of Luma, a fully customizable, independent, buy-side technology platform that helps financial teams more efficiently learn, create, order, and manage market-linked investments such as structured products, structured annuities and more.

Launched in 2011, Luma is one of the largest and longest-tenured structured product platforms in the U.S. market and is used by broker/dealer firms, RIA offices and private banks to automate and optimize the full process cycle for offering and transacting in market-linked investments. This includes education and certification; creation and pricing of custom structures; order entry; and post-trade actions. Luma is multi-issuer, multi-wholesaler and multi-product, thus providing teams with an extensive breadth of market-linked investments to best meet clients’ specific portfolio needs.

Headquartered in Cincinnati, OH, Luma also has offices in New York, NY, and Zurich, Switzerland, and Chile. For more information, please visit Luma’s website.

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