“We expect that the personalized comparison functionality we now feature on the annuities side of the platform will have a transformational impact on the industry as a whole.
“Our platform is helping to significantly provide better transparency and education for advisors, and in turn, better ensure favorable results for their clients,” said Tim Bonacci, CEO & President of Luma Financial Technologies. In February 2021, Luma made the leap into the annuities market and has since been leading the charge on revolutionizing the space through their advanced comparison features. The Luma platform, which supports some of the world’s largest wealth management firms as clients, originated to serve the structured product marketplace in 2018 and quickly gained the largest market share of structured product transaction volume in the U.S. Through historical data and future projections, Luma Compare offers advisors consistent, simple, and customized solutions with a higher level of accuracy. The new replacement analysis for annuity products can also be customized based on a firm’s suitability criteria, further ensuring compliance standards.
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“Important information that was often overlooked and hard to identify is now seamlessly available on our platform for advisors to efficiently and confidently conduct replacement analysis that accurately provides them with a full picture, and compliance documentation, of the most suitable solutions that fit their clients individual risk profiles.” “In order for an advisor to determine the most suitable annuity product for their individual clients, it is essential to look beyond the headline features and fees of a product and drill down deeper into the analytics and specific client benefits,” said Keith Burger, Head of Distribution at Luma Financial Technologies.
This includes analysis that takes current and future market scenarios into consideration, as well as tailored breakdowns specific to an individual’s current income and death benefits available to them in their existing product. This new feature supplies advanced analytics for financial advisors to compare a client’s existing annuity product features, fees and values to a proposed annuity product replacement, including 1035 exchanges, using a more personalized approach. Luma’s cutting-edge platform sets the bar as the most comprehensive annuity replacement comparison tool in market for financial advisors around the worldĬINCINNATI, OH / ACCESSWIRE / Decem/ Luma Financial Technologies (“Luma”), the world’s top independent and most objective, multi-issuer structured products and annuities platform, is pleased to announce annuity replacement analysis within their state-of-the-art comparison tool, “Luma Compare”.
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