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Morningstar Launches Annuity Intelligence Center within Morningstar Advisor Workstation, Powered by Luma Financial Technologies
The new platform runs on Luma's innovative annuity technology and streamlines the annuity selection process for advisors CHICAGO, Dec. 13, 2022 /PRNewswire/
About this update from Morningstar, Inc.
[{"type":"text","content":"The new platform runs on Luma's innovative annuity technology and streamlines the annuity selection process for advisors\n 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.\n\"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.\"\nLuma's technology supports a breadth of annuity contract coverage, bringing customizable insights to advisors who use Annuity Intelligence Center.\n\"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.\"\nThe 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 t...