Luma forges annuity management alliance with Pershing

The partnership will unlock educational resources, analytics, and tools to help advisors manage annuity sales on Pershing’s platform.

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.