The new platform runs on Luma's innovative annuity technology
and streamlines the annuity selection process for advisors
CHICAGO,
Dec. 13, 2022
/PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading
provider of independent investment research, today launched the
Annuity Intelligence Center, an annuity transaction experience
within Morningstar Advisor WorkstationSM that will
simplify a financial advisor's process of transacting annuities on
behalf of clients. The platform is powered by Luma Financial
Technologies ("Luma"), an independent, multi-issuer structured
products and annuities platform. The Annuity Intelligence Center
combines educational material, comparison functionality, and
widespread product accessibility to help advisors manage their
clients' entire annuity experience.
"Assets in annuities are climbing, and while these vehicles are
growing in popularity, the annuity marketplace remains opaque, and
advisors serving investors have difficulty evaluating their
options," said Jeff Schwantz, global
head of channels and partnerships at Morningstar. "The Annuity
Intelligence Center bolstered by Luma technology brings a new level
of transparency to the industry by removing complexities and
modernizing workflow, including lifecycle management from
pre-trade, trade, and post-trade. Advisors can provide clients with
a holistic view of their options to make informed financial
decisions and empower investor success."
Luma's technology supports a breadth of annuity contract
coverage, bringing customizable insights to advisors who use
Annuity Intelligence Center.
"We're excited that Morningstar will offer our end-to-end
annuity solution as well as the unique annuity transaction
experience it provides," said Keith
Burger, Luma's head of distribution, North America. "Investors are using annuities
in several ways, and Luma's technology in the Annuity Intelligence
Center positions advisors to understand when and how an annuity
could benefit a client. We look forward to strengthening our
relationship with Morningstar and continuing to transform the
annuity experience for investors around the world."
The Annuity Intelligence Center equips advisors with a single
solution for all annuity product types, including variable
annuities, fixed index annuities, and registered index-linked
annuities. The platform is designed to encompass the entire annuity
workflow, from training and research to order entry and lifecycle
management, simplifying manual processes with interactive tools.
Users can compare annuity features – such as rates, expense
requirements, and rider types – and run income and value
projections to come to an informed decision based on specific
circumstances or preferences.
Once an annuity is selected, Annuity Intelligence Center reduces
the complexities of buying the annuity. With Luma's backend data,
users can easily order directly through the digital platform. The
Lifecycle Manager module within the platform then allows an advisor
to monitor product performance from a centralized location.
The Annuity Intelligence Center is now integrated and accessible
in Morningstar's web-based platform for financial professionals,
Morningstar Advisor Workstation. Learn more about Morningstar
Advisor Workstation here.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment
research in North America,
Europe, Australia, and Asia. The Company offers an extensive line of
products and services for individual investors, financial advisors,
asset managers and owners, retirement plan providers and sponsors,
and institutional investors in the debt and private capital
markets. Morningstar provides data and research insights on a wide
range of investment offerings, including managed investment
products, publicly listed companies, private capital markets, debt
securities, and real-time global market data. Morningstar also
offers investment management services through its investment
advisory subsidiaries, with approximately $239 billion in assets under advisement and
management as of September 30, 2022.
The Company has operations in 29 countries. For more information,
visit www.morningstar.com/company. Follow Morningstar on Twitter
@MorningstarInc.
About Luma Financial Technologies
Founded in 2011,
Luma Financial Technologies ("Luma") has pioneered a cutting-edge
fintech software platform that has been adopted by broker/dealer
firms, RIA offices, and private banks around the world. By using
Luma, institutional and retail investors have a fully customizable,
independent, buy-side technology platform that helps financial
teams more efficiently learn about, research, purchase, and manage
alternative investments as well as annuities.
Luma gives these users the ability to oversee the full,
end-to-end process lifecycle by offering a suite of solutions.
These include education resources and training materials; creation
and pricing of custom structured products; electronic order entry;
and post-trade management. By prioritizing transparency and ease of
use, Luma is a multi-issuer, multi-wholesaler, and multi-product
option that advisors can utilize to best meet their clients'
specific portfolio needs.
Headquartered in Cincinnati,
OH, Luma also has offices in New
York, NY, Zurich,
Switzerland, and Miami, FL.
For more information, please visit Luma's website, or follow us on
LinkedIn and Twitter.
©2022 Morningstar, Inc. All Rights Reserved.
MORN-P
Morningstar Media Contact:
Michael Claussen, +1 312 696-6037 or
newsroom@morningstar.com
Luma Media Contact:
Joseph Collins, +1 914 686-5599 or
jcollins@riverinc.com
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SOURCE Morningstar, Inc.