Luma Financial Technologies announced today that Stephen Bodurtha, an
investment product pioneer and co-inventor of the Select Sector SPDRs
ETFs, has joined the firm’s Board of Directors.
Luma is an independent, multi-issuer, online platform that provides
broker/dealers, RIAs and banks with a feature-rich marketplace for
structured products and annuities. Luma is customizable to clients’
specific business needs and includes advanced capabilities in product
creation, order entry and lifecycle support. Luma also ensures advisors
have access to comprehensive educational content as well as marketing
and sales tools. Initially launched in 2011, Luma was officially formed
as a separate entity in 2018 by co-investors Navian Capital, Bank of
America Merrill Lynch and Morgan Stanley.
Mr. Bodurtha spent almost three decades building and transforming the
investment and wealth management businesses at both Merrill Lynch and
Citibank. More specifically, he was the head of Citi Private Bank’s
investment business in North America and earlier, was co-head of the
investments, wealth management and insurance organization, as well as
the retirement business, at Bank of America Merrill Lynch. He was also
appointed Vice Chairman of Merrill Lynch Global Wealth Management.
Mr. Bodurtha is a co-inventor of the $100+ billion Select Sector SPDRs
ETFs, and is recognized as one of the pioneers of the structured
products market after launching the structured notes product at Merrill
Lynch Private Client, which grew into a $400+ million annual revenue
“Given the uncertainty of the markets, investors are increasingly
seeking innovative, risk-managed solutions for growth, income, and
capital preservation – making the benefits of structured products
extremely timely and valuable,” Mr. Bodurtha said. “Luma is unlocking
the power of structured products by giving advisors everything they need
to build better, more effective portfolios for their clients. I am
delighted to be working with Luma as it helps lead the structured
product evolution while also driving better wealth management practices.”
“We are truly honored to have Steve join our Board of Directors,” said
Tim Bonacci, President and Chief Executive Officer of Luma Financial
Technologies. “Luma has been built exclusively from the advisor’s
perspective, taking into account the challenges advisors face as they
work hard to satisfy the long-term investment needs of their clients.
Steve’s track record of innovation and unparalleled experience and
leadership within the industry is invaluable as it comes largely from
the advisor universe. He will help guide us as we continue to expand our
platform to provide advisors with greater access, transparency,
customization, education and training on structured products.”
Mr. Bodurtha currently serves as the Founder and CEO of Flexbridge
Partners LLC and is an advisor to Challenger Inc. and Alaia Capital.
Mr. Bodurtha earned his MBA from Harvard Business School.
About Luma Financial Technologies
Luma is an award-winning, independent, multi-issuer structured products
and annuities platform serving broker/dealers, RIAs and banks. Luma
provides financial advisors with instant access to a broad universe of
issuers plus the ability to build custom solutions via its Product
Creation Tool; a user-friendly, order entry system; performance,
research and product lifecycle tools; comprehensive education, training
and certification content; and sales and marketing support. Luma has
offices in Cincinnati, OH (headquarters) and New York, NY.
For more information on Luma Financial Technologies, please visit: https://lumafintech.com/