CANNEX is an independent and privately held company with operations in Canada and the U.S. Our mission is to provide access and transparency relating to the cost and features of retirement savings and retirement income products offered across the market. No financial institution holds any shares in the company and no CANNEX employee or shareholder receives any income from the sale of financial products.
We facilitate the efficient and accurate exchange of pricing and analytics for annuity and bank products between financial institutions. Our independent exchange of this information can be deployed to support a variety of processes for distributors, manufactures, and service providers. In Canada, CANNEX’s Financial Network (CFN) is the dominant facility that automates application processing and administration of Term Deposits/GICs for participant Product Issuers and Dealer Organization.
Because we manage the actual pricing algorithms for income products, we are able to develop various benchmarks and Indices that allow financial institutions to manage their own product valuation and retirement planning processes. These benchmarks along with actual pricing can be fed real time to support proprietary or third party planning & education tools.
We are also committed to supporting retirement income program needs of financial institutions. In addition to managing the pricing guarantees and algorithms for lifetime income products through our actuarial team, we provide allocation and research support through our quantitative research team (The QWeMA™ Group).
CANNEX is committed to supporting the retirement market and helping our clients improve their various processes and programs to better serve the public. Guaranteed lifetime income is an important component of any portfolio in retirement. We have and will continue to invest resources in the research & development of concepts that will assist in the education and adoption of retirement income products and programs.