Luma Insights:

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 — 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 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.