Sony Life has followed up its recent purchase of a stake in ClearView Wealth by entering into information sharing and co-ordination agreement with the listed Australian wealth management business.
ClearView announced the formal Co-operation Agreement via the ASX and stated the two groups would “…share information and increase their co-ordination to drive efficiency and growth across both organisations”.
The announcement stated this would allow ClearView to expand its presence in the non-aligned advice sector while improving the quality of advice provided by ClearView’s aligned advisers.
ClearView Managing Director, Simon Swanson said the Agreement would benefit ClearView via access to Sony Life’s expertise in product development, distribution and marketing.
The Cooperation Agreement became effective from 13 January 2017 and will remain while Sony Life holds at least 10 per cent of the issued share capital in ClearView.
Sony Life currently holds 14.9% of ClearView after it purchased the stake in October 2016 from Crescent Capital Partners, which still retains 38% of the ClearView (see: Japanese Insurer Takes Stake in ClearView).
