ClearView enters growth agreement with Sony Life

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.”