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.