ClearView Wealth has entered into an agreement with its new shareholder Sony Life, which will see the two entities working together to expand ClearView’s foothold in the IFA sector as well as recruit aligned advisers.
ifa reported in October 2016 that Japanese insurer Sony Life Insurance had taken a 14.9 per cent stake in ClearView Wealth.
In an ASX announcement on Friday, the two companies announced they had now entered into a mutually-beneficial co-operation agreement to leverage each other’s knowledge and skills in an effort to develop both businesses.
Under the agreement, the companies will look to expand ClearView’s footprint in the IFA market as well as enhance the quality of strategic advice provided by ClearView’s aligned adviser network.
The two will also look to increase the recruitment and productivity of skilled aligned advisers, the statement said.
The agreement is effective from 13 January, and will continue as long as Sony Life holds at least 10 per cent of the issued share capital in ClearView.
ClearView managing director Simon Swanson said this deal demonstrates Sony Life’s commitment to working together.
“This collaboration will see ClearView benefit from Sony Life’s substantial expertise in product development, distribution and marketing,” he said.
“Both parties have also agreed to share information in relation to best practice in financial advice, technology, internal operations and financial reporting practices.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 17 Oct 2018Private banking has no place for bad advisersBy Eliot Hastie
- 17 Oct 2018CBA admits failure to tackle conflicted adviceBy James Mitchell
- 16 Oct 2018NAB to address advice issues in $314m payoutBy Eliot Hastie
- 16 Oct 2018Former BT exec joins mortgage and financial advice groupBy Reporter
- 16 Oct 2018ANZ under fire over ‘conflicted’ IOOF dealBy James Mitchell
- 16 Oct 2018Advisers should be early call in divorce casesBy Adrian Flores
- view all