Two firms have teamed as much as provide advisors a brand new annuity comparability system.
Cannex and Luma Monetary Applied sciences launched the Cannex Annuity Market Wednesday.
The brand new system comes stocked with detailed details about tons of of annuities from about 60 issuers.
Gary Baker, president of Cannex USA, mentioned advisors can use the system to satisfy regulators’ best- curiosity product advice necessities in addition to to satisfy shoppers’ personal earnings planning objectives.
What it means: Tech firms are growing instruments that may assist advisors show they did their finest to seek out the very best annuities, not simply methods that may assist shoppers rank annuities from highest yield to lowest.
The system: Cannex is thought for creating streams of monetary product information. Luma is thought for its institutional annuity gross sales methods. The brand new annuity market system combines Cannex information with Luma tech.
Advisors can get particulars about yields, asset allocations, phrases and riders for fastened annuities, variable annuities, index-linked annuities and earnings annuities, and so they can filter merchandise based mostly on whether or not the shopper needs to build up property or convert property right into a stream of lifetime earnings.
Advisors also can use the system for example how merchandise may carry out in a variety of situations.