Arete Wealth is sharpening its focus on alternatives with a newly forged fintech partnership.
Under the new strategic collaboration with Luma Financial Technologies, the broker-dealer and RIA will integrate Luma’s alternative investment platform to simplify the process of buying and managing structured products and annuities for advisors and clients.
The collaboration is designed to streamline operations using Luma’s technology, including its Lifecycle Manager, which allows advisors to monitor portfolio performance, risk, and exposure. Luma, which expanded into the annuity market in 2021, offers tools to support a more efficient investment management process.
"We are thrilled to partner with Arete Wealth, enabling their financial professionals to leverage our state-of-the-art technology for managing and transacting in structured products and annuities," Donald Pogan, chief product officer at Luma Financial Technologies, said in a statement.
Pogan emphasized his firm's mission of "[enhancing] access and transparency in the alternative investment space" with tools to help advisors "better understand, objectively analyze, purchase, and manage products on behalf of their clients."
Arete Wealth CEO Joshua Rogers described the firm's partnership with Luma as "a significant milestone."
"Integrating Luma's cutting-edge technology into our advising platform will not only broaden our investment offerings but also streamline processes and enhance the investment experience for both our clients and advisors," Rogers said.
With the integration of Luma's platform into its ecosystem, Arete Wealth said it will debut a new e-application functionality for annuities, reducing administrative tasks associated with annuities transactions for its financial professionals.
The partnership with Arete Wealth builds on other developments for Luma this year, including an annuity management alliance it forged with Pershing in April. In May, it entered into a collaboration with annuity research provider Cannex to launch a new marketplace platform aimed at financial professionals at small and mid-sized firms.
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