Risk Product, Company and Regulatory Updates as at 24 January 2017

Product Updates
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New app for clients to see snapshot of financial position
Collins Mann Financial Management has built an app to give clients access to all of their financial information, and see what their adviser has been doing. The app offers a complete snapshot, calculates projections, and allows some investigation into the outcomes of different investment scenarios. 

Company Updates
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ClearView and Sony Life sign agreement
Sony Life recently purchased a stake in ClearView Wealth, and the two companies have now entered into an information sharing and coordination agreement. The agreement stands so long as Sony Life holds at least 10 per cent of the issued share capital in ClearView. Sony Life currently holds 14.9 per cent. 

CommInsure wins NFS mandate, loses TWUSUPER
CommInsure is now the group insurer of $548 million Nationwide Superannuation Fund (NSF Super), after a series of problems over the past two years caused losses of clients. TWUSUPER, the super fund for the transport industry, has left CommInsure after a long relationship, moving to TAL. 

Bridges acquires Heritage Bank advice firm
Bridges Financial Services has bought advice business Heritage Bank, a financial advice business based in Queensland. 

Omnium and YTML sign technology partnership deal
Omnium, a risk software provider, has signed a deal with technology partner YTML to provide an operating platform for Omnium programs. YTML offers technology consultancy services to the finance industry. 

Regulatory
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CPA introduces new financial planning subjects
Anyone completing four new subjects under a course provided by Certified Practising Accountants Australia will be able to attain their RG 146. The Financial Planning Fundamentals program adds to the subjects required to completing the CPA Program. From January 2019, new financial advisers must have a relevant degree, with existing financial advisers having up until 2021 to pass an industry exam.