CANNEX Wins RIIA Innovation Award for Product Allocation Process

Toronto, Canada, November 16, 2015 – CANNEX was the winner of the Retirement Income Industry Association®‘s (RIIA®) 2015 Retirement Income Journal Award for “Innovation in Retirement Income Planning Products.” The award, presented by Kerry Pechter, editor and publisher of Retirement Income Journal at RIIA’s annual conference in Indianapolis, was given to CANNEX for its Product Allocation for Retirement Income process (also known as PrARI™).

“CANNEX’s product allocation for retirement income process is an important innovation in the industry,” said Francois Gadenne, Co-Founder, Chairman, and Executive Director of the Retirement Income Industry Association. “We are delighted to recognize Cannex and PrARI with this award. The importance of product allocations is reflected in RIIA’s Retirement Management Analyst curriculum, which covers product-based retirement planning, as well as investment-based planning and goals-based planning.”

CANNEX has been able to adopt much of the pioneering research work on “product allocation” by Professor Moshe A. Milevsky and his colleagues at York University, by enhancing and deploying its proprietary methodology to support retirement income programs as well as model portfolios offered by financial institutions. PrARI supports the combination of investments with insured products, like annuities, in a single retirement portfolio to help satisfy lifetime income and estate planning needs in an efficient manner. Recent enhancements to the allocation process include the ability to accommodate Deferred Income Annuities, including Qualified Longevity Annuity Contracts (QLACs), as well as a wider variety of guaranteed living benefit options that are offered with deferred annuities.

“We are honored to receive this award,” said Gary Baker, President of CANNEX USA. “RIIA is a unique community where members discuss ideas and perspective independent of allegiance to specific products or practices in the market. Our work to develop an across the silos approach to product allocation underscores our shared commitment to client-focused planning.”

PrARI was originally commercialized by Professor Moshe A. Milevsky and the QWeMA group in 2008 and was transferred to CANNEX as part of the sale of QWeMA Group in 2013. The system is used by a variety of financial institutions in support of their retirement income programs and practices.

About RIIA

The Retirement Income Industry Association® (RIIA®) is a not-for-profit independent industry association that seeks to discover, validate and teach the new realities of retirement and to do so from the perspective of “The View Across the Silos?”, with the goal of achieving better retirement outcomes for the client. RIIA’s client-focused approach and the retirement body of knowledge that underpins its influential professional designation – the Retirement Management Analyst® (RMA®) – are highly-valued by clients, companies and advisors using both suitability and fiduciary standards focused on expanding their retirement practices. RIIA organizes conferences and events, professional education for RMAs, publishes a peer-reviewed journal (Retirement Management Journal®), offers twice-monthly retirement-focused webinars through its Virtual Learning Center, manages an 8,000 person strong LinkedIn discussion group, provides research and other services to the industry and its clients. More information about RIIA can be found at http://riia-usa.org.