Luma Financial Technologies is helping more advisors get access to its annuity management capabilities through a new partnership.
The platform provider announced a collaboration with BNY Mellon's Pershing platform to provide a best-in-class annuity management experience through Pershing's acclaimed custodial platform, NetX360.
The collaboration introduces financial advisors to a comprehensive suite of tools and resources, including Luma's educational content, analytics, and suitability tools designed to streamline the sales and management process across all types of annuity products.
“Our primary mission has always been to empower the industry and financial advisors to better understand, objectively analyze, purchase, and manage products on behalf of their clients,” Luma president and CEO Tim Bonacci said in a statement.
By integrating Luma's services into Pershing's NetX360 platform, the partnership aims to give advisors a seamless experience that enhances their ability to research, compare, and manage annuity products tailored to their clients' unique financial goals.
Pershing's integration with Luma also facilitates single sign-on access to Luma's learning center, letting advisors engage with personalized educational tools and undergo product training in line with the National Association of Insurance Commissioners’ standards.
The partnership will also see a two-way exchange of information between platforms, with Pershing transmitting brokerage account details to Luma, while Luma shares brokerage account, product, and user information with Subscribe, Pershing’s proprietary annuity application capability.
“Offering our clients easy access to Luma provides an enhanced annuity and retirement planning experience,” said Sareena Dalla Brookshire, chief product officer at BNY Mellon's Pershing.
RIA platform Advisory Services Network is tapping into demand for advisors looking to jump from wirehouses and independent broker dealers
Masterworks was launched in 2017 but its RIA, Masterworks Advisers, is just three years old.
The RIA plans to expand its footprint across the U.S. while using AI to free advisors from back-office tasks
Three RIA founders explain how breaking from large firms to pursue their own happiness gives them the fiduciary freedom their clients deserve.
Jason Wenk says his RIA custodian is far ahead of targets as Altruist Advisors beta program draws five times more applicants than expected
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
