CANNEX Annuity Marketplace Launched to Broaden Industry Access to Annuity Evaluation and Selection Tools

Leverages CANNEX's annuity analysis expertise and Luma Financial Technologies' institutional product platform

CHARLOTTE, N.C., May 22, 2024 /PRNewswire/ -- CANNEX has partnered with Luma Financial Technologies to launch the CANNEX Annuity Marketplace, making it easier for financial professionals at small and mid-sized firms to select annuities and make decisions on asset allocations, terms, and riders.

The new marketplace provides the ability to analyze the performance of hundreds of fixed, indexed-linked, and variable annuities, as well as income annuities. It leverages CANNEX's annuity data, analysis, and illustration expertise, along with Luma's market-leading technology platform that serves the largest financial institutions in the world, to provide a robust, easy-to-use interface for financial professionals across the industry.

"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," said Gary Baker, president, CANNEX USA. "The marketplace's tools illustrate the performance characteristics of different annuities consistent with best interest requirements and client goals."

The CANNEX Annuity Marketplace provides income, rate, yield, and product information on annuities from more than 60 providers. Advisors can run illustrations across products, asset allocations, riders, and annuity categories using a range of market scenarios. For index-linked annuities, hypothetical performance can be modeled based on the use of 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, Luma Financial Technologies. "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."

Find out more here: CANNEX Annuity Marketplace.

About CANNEX

Founded in 1984, CANNEX is an independent financial data and research services company with operations in Canada and the U.S. Our mission is to increase transparency and provide access to guaranteed savings and lifetime income products in North America. CANNEX provides data, analytics, illustrations and research services to insurance companies, banks, brokers, service providers and independent advisors to help them meet their clients' financial needs. We invest resources in the research & development of services and concepts that will assist in the evaluation and comparison of protections embedded in savings and income products. For more information about CANNEX, visit www.cannex.com.

About Luma Financial Technologies

Founded in 2018, 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. 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 at https://lumafintech.com.

Contact: Simon Erskine Locke
Islay Communications, Inc.
[email protected]
Tel: +1-917-359-6969

SOURCE CANNEX