Luma Financial Technologies Announces a Collaboration with BNY Mellon’s Pershing to Provide Next-Level Annuity Management Solutions

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.”

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.

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.

About BNY Mellon’s Pershing

BNY Mellon’s Pershing is a leading provider of clearing and custody services. We are uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation.

Wealth management and institutional firms outsource to us, or one of our affiliates, trading and settlement services, investment solutions, bank and brokerage custody, middle- and back- office support, data insights and business consulting.

Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client.

Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Pershing X, Inc. and BNY Mellon Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on pershing.com, or follow us on LinkedIn or Twitter @Pershing.

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