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Luma collaborates with BNY Mellon’s Pershing to provide annuity management solutions

Source: Luma Financial Technologies

Luma Financial Technologies (“Luma”), the world’s top independent, multi-issuer, structured products and annuities platform, and BNY Mellon’s Pershing (“Pershing”), a leading provider of global financial business solutions, announced a collaboration that will provide financial advisors with a best-in-class annuity management experience.

Through Pershing’s award-winning custodial platform, NetX360 ®+, advisors will be able to access Luma’s educational materials, analytics, and suitability tools to help them streamline and manage sales activities for all annuity product types.

Luma’s comprehensive suite of tools expands advisors’ capabilities and empowers them in the management of annuities. Within Luma’s Learning Center, advisors receive personalized education tools, in addition to National Association of Insurance Commissioners (NAIC) product training. Providing access to Luma via single sign-on from the NetX360+ platform increases advisors’ annuity research capabilities and enables unique comparison features to ensure the product selected best matches their client’s individual goals. Pershing will transmit brokerage account details to Luma, and Luma will provide brokerage account, product, and user information to Subscribe®, Pershing’s proprietary annuity application.

“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,” said Tim Bonacci, CEO and President at Luma Financial Technologies. “By expanding our annuity capabilities to the BNY Mellon’s Pershing network of financial professionals, we’re equipping advisors with the tools and knowledge that are essential for navigating the evolving annuity landscape.”

Pershing combines personalized service with a connected wealth technology platform to provide a unique and tailored experience for each client. As the demand for annuities rises among investors seeking stability and diversification, advisors are looking to leverage advanced technology to stay ahead of the game and offer efficient and effective personalized guidance.

“Offering our clients easy access to Luma provides an enhanced annuity and retirement planning experience,” said Sareena Dalla Brookshire, Chief Product Officer, BNY Mellon’s Pershing. “Through Subscribe, our proprietary annuity application, Pershing clients have access to a robust set of features to help them manage their annuity business.” 

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