A diversified Australian financial services company has entered into a mutually beneficial cooperation agreement with a Japanese insurance company in a bid to drive efficiency and growth across both organisations.
Following a strategic deal that saw Sony Life acquire a 14.9% stake in ClearView Wealth Limited, the two have forged a new agreement that will leverage each other’s knowledge and skills to continue developing both businesses.
Under the new deal, the two parties will work on expanding ClearView’s footprint in the independent financial adviser market; improve the quality of strategic advice provided by ClearView’s aligned adviser network; and increase the recruitment and productivity of skilled aligned advisers, ClearView said in a statement.
The cooperation agreement took effect on January 13 and will run for so long as Sony Life owns a minimum 10% of ClearView’s issued shared capital.
Simon Swanson, ClearView managing director, commented: “This collaboration will see ClearView benefit from Sony Life’s substantial expertise in product development, distribution, and marketing. Both parties have also agreed to share information in relation to best practice in financial advice, technology, internal operations, and financial reporting practices.”
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