Cannex, a North American financial research and data services provider with a focus on annuities, is helping more advisors analyze and choose annuities for their clients’ financial plans through a new fintech collaboration.
In partnership with Luma Financial Technologies, Cannex has introduced the CANNEX Annuity Marketplace, a new platform aimed at simplifying annuity selection and analysis for financial professionals at small and mid-sized firms.
The marketplace offers tools to conduct performance analysis across hundreds of annuity products, including fixed, indexed-linked, variable, and income annuities. It integrates CANNEX’s extensive annuity data and analysis with Luma’s technology platform, widely used by major financial institutions, to provide a user-friendly interface for industry professionals.
As the US stands at the edge of a retirement crisis, the annuity space has grown at an impressive pace, with Limra estimating a total of $113.5 billion in US annuity sales in the first quarter of 2024 alone.
"As carriers continue to innovate and launch unique products and features, the importance of being able to understand and evaluate annuities on a standardized basis has grown,” Gary Baker, president of Cannex USA, said in a statement. “The marketplace’s tools illustrate the performance characteristics of different annuities consistent with best interest requirements and client goals.”
The Cannex Annuity Marketplace offers detailed information on annuities from over 60 providers, including data on income, rates, and yield. It enables advisors to generate illustrations based on products, asset allocations, riders, and annuity categories under various market conditions.
For index-linked annuities, the platform includes the capability to model hypothetical performance using an efficient-frontier analysis.
"We’re delighted to enhance our existing partnership with Cannex to provide financial advisors across the industry greater access to product selection and configuration tools through the annuity marketplace,” said Jay Charles, director of annuity products at Luma.
“Leveraging our best-in-class technology and Cannex’s trusted data and analytics, the marketplace provides an important resource for financial professionals looking to help clients incorporate annuities into their financial plans,” Charles said.
Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B
“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.
The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO
For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.
Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions
Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
