Raamy Shahien

Raamy Shahien has outlined the next phase for Viridian Financial Group Limited (Viridian) as he leads the diversified financial services group as sole Chief Executive Officer.

Entering its second decade, and following TA Associates’ strategic investment in 2025, Viridian is focused on its next phase of growth. Viridian has established a wealth ecosystem converging advice, lending and investment solutions, supported by the governance and capability needed to serve clients across Australia.

Mr Shahien said the next phase will focus on translating the trust, scale and experience built over the past decade into stronger outcomes for clients and advisers.

“Over a decade on the frontline with clients and advisers has shaped how we think about advice, lending, investments and the overall client experience. We’re not interested in consolidation and scale for its own sake. The test is whether it makes the business better for clients and our people,” said Viridian Chief Executive Officer Raamy Shahien.

“That means continuing to invest in deeper specialist support and building a business that is simpler and easier to deal with — making it easier for clients and advisers to navigate and access advice, lending and investment solutions

Building for long term growth

Financial advice remains integral to Viridian’s strategy, with the group continuing to invest in adviser growth. More than nine advisers have recently completed their professional year, alongside ongoing recruitment of culturally aligned advisers and businesses.

Viridian will also continue to pursue selective acquisitions and partnerships to strengthen its presence in key markets and expand its capabilities. The group has integrated more than 20 businesses over the past decade, including mortgage broking firm Smartmove, acquired in 2023.

“Partnership has always been central to how we’ve grown the business,” Mr Shahien said.

This has strengthened Viridian’s ability to support clients across borrowing, debt and property decisions as part of a more holistic client experience. The group now looks after over $11 billion across its advice and lending.

Alongside advice and lending, Viridian’s well-established investment offering through Infinity continues to expand, with more than $6 billion in funds under management and a growing adviser base across and beyond the network.

“We’re seeing increasing demand from advisers for businesses to take greater responsibility for investment outcomes, particularly as the industry responds to recent disruption and a sharper focus on governance and accountability,” Mr Shahien said.

Backing growth with strong foundations

Mr Shahien said Viridian would continue to invest in technology, operating discipline and the broader foundations needed to support clients and staff as the business grows.

He said Viridian’s recent commitment to achieving Great Place to Work accreditation, together with ISO 27001 certification, reflected the importance of building a business with strong culture, sound governance and robust operating standards.

“These recognitions reflect the standards we expect across the business, from how we support our people to how we manage risk and deliver for clients over time,” Mr Shahien said.

The Viridian Foundation has also crossed a major milestone. Since launching in 2018, it has donated over $1.5m to the communities it serves, including more than $675,000 for the Jreissati Pancreatic Cancer Centre at Epworth through its annual step challenge.

Mr Shahien has played a central role in Viridian’s development over a number of years, including previously serving as Joint CEO. Glenn Calder, Viridian’s co-founder and former Joint CEO, remains closely involved in the business and is focused on mergers and acquisitions.

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Raamy Shahien

Viridian Financial Group (“Viridian” or “the Firm”), one of Australia’s leading diversified financial services businesses, has announced that TA Associates (“TA”), a leading global private equity firm, has signed an agreement to make a strategic investment in the Firm. The investment has been approved by Viridian’s founders, Board of Directors, and senior management team, who, upon completion of the transaction, will partner closely with TA to accelerate the Firm’s next phase of growth.

“By combining the strengths of both companies, the Viridian Board anticipates significant synergies, strengthening our position in the market as well as expanding our capabilities. We believe this transaction will create significant value for our shareholders in driving future profitability. Along with my fellow Directors, I have no hesitation in supporting this strategic partnership,” said James Joughin, Chair at Viridian.

“Since Viridian’s founding nearly a decade ago, we have remained steadfast in our client-centric philosophy, focused on empowering Australians through holistic financial advice, innovative solutions and exceptional service,” said Raamy Shahien, Joint CEO and Executive Director at Viridian. “Having built a strong relationship with TA, and after collaborating closely with them to structure our partnership, we are confident that TA is the ideal partner to support Viridian’s growth and vision moving forward. Our partnership with TA marks a significant milestone in our journey, serving as both a recognition of our strong track record thus far and a catalyst for future growth as we continue to expand in an ever-evolving market.”

Since its founding in 2015, Viridian has become one of Australia’s largest practices. Headquartered in Melbourne, Australia, the Firm manages ~$16bn of funds across three specialised business divisions, Viridian Advisory, Infinity Capital Solutions and Smartmove Lending, providing wealth advice, investment solutions and mortgage broking services to over 15,000 clients. By partnering with TA, Viridian will leverage TA’s global resources and extensive experience in the financial services industry to expand its capabilities, enhance its integrated service offerings and fuel client success.

“TA has made over 30 investments in wealth management and asset management companies globally, establishing itself as a leading global investor in financial services. Their understanding and proven experience in scaling businesses and deep industry expertise will be invaluable in driving forward our vision of transforming wealth management in Australia,” said Glenn Calder, Joint CEO and Executive Director at Viridian. “TA’s support and partnership strengthens our ability to remain agile and forward-thinking, ensuring we incorporate international best practices into our business and deliver ongoing value to our clients and stakeholders.”

“Throughout our multi-year, deep dive into Australia’s wealth management sector, Viridian consistently emerged as a leading innovator in its market segment, driven by its compelling asset platform, diversified product offering and strong culture of client and advisor alignment,” said Edward Sippel, head of TA Associates Asia Pacific Ltd. and a Managing Director at TA, who will join the Viridian Board of Directors. “Across our global wealth management investments, our focus is first and foremost on client outcomes and alignment with advisors. We are pleased that the Viridian team shares this commitment. We have high conviction in the long-term potential of Australia’s large and growing wealth management market, and believe there is a significant opportunity to scale Viridian’s platform both organically and through strategic acquisitions.”

“Viridian’s strong position is underpinned by Australia’s mandated savings environment and growing demand for advice,” said Lily Xu, Senior Vice President at TA, who will also join the Viridian Board of Directors. “With multiple levers for organic growth and a proven ability to execute growth through M&A, we’re excited to support Viridian’s continued growth trajectory.”

The agreement remains subject to customary conditions. Settlement is expected to occur in the third quarter of 2025.

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Brett Arnol

Viridian Advisory’s latest adviser poll has revealed that the cost-of-living crisis, the current housing shortage, and aged care policies are dominating client concerns as Australians brace for the upcoming 2025-2026 Federal Budget announcement.

While 82% of the advisers surveyed by the poll highlighted that clients are neither optimistic nor pessimistic towards the upcoming Federal Budget, changes to superannuation, including the anticipated adjustments to the Div. 296 tax threshold, remained a key area of interest.

The survey also revealed an uptick in client enquiries related to the Budget. Aged care and housing pressure were again leading themes, with the remaining queries largely focused on economic areas such as market volatility due to tariffs, interest rates, debt levels, and the impact of the Trump administration on the Australian market.

Among the advisers surveyed, over 96% anticipated minimal shifts in portfolio allocations following the Budget, indicating a firm commitment to stable asset allocation during uncertain times.

Brett Arnol, Co-Founder and General Manager of Advice at Viridian, said: “While we do not expect any significant impact on client portfolios from the upcoming Federal Budget, we hope to see concrete commitments emerging from the Budget that address client concerns which also includes childcare, education and Medicare.”

The 2025-2026 Federal Budget is scheduled to be handed down on Tuesday 25 March 2025.

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Brett Arnol

With HSC results set to be released next week, Viridian Advisory is calling on school leavers to consider an exciting and rewarding career in financial planning. Following a period of transformation, the industry is experiencing surging demand, creating opportunities for fresh talent to step in and help shape its future.

A changing industry presents opportunities for the next generation

Australia’s financial advice industry is at a pivotal moment. As a wave of experienced advisers approach retirement, and demand for advice continues to grow, the need for new talent has never been greater. The profession is poised for a new era, driven by innovation and fresh perspectives, making it an ideal time for HSC graduates to explore financial planning as a career choice.

“The industry has undergone significant transformation in recent years, and with an increasing need for financial advice, there’s never been a better time for young talent to join and help shape the future,” said Brett Arnol, Co-Founder and General Manager – Advice at Viridian Financial Group Limited.

Pathways into financial planning: Specialist degrees and traditional routes

HSC graduates interested in financial planning can explore a range of education options to begin their careers. Specialist degrees in financial planning are now offered at many universities, providing focused and practical training for the industry. Alternatively, students can pursue more traditional finance or business-related degrees as a platform to enter the profession, supplementing these with specialist qualifications such as those offered by Kaplan or other industry bodies. These pathways provide the flexibility to tailor their education to their career goals while meeting the profession’s standards.

Viridian’s Professional Year Program offers pathway to success

Viridian Advisory’s Professional Year (PY) program is designed to prepare the next generation of financial advisers with a comprehensive blend of technical training, mentorship, and skill development. The program equips participants to thrive in a profession that is both challenging and deeply rewarding.

Key features of the program include:

• Personalised learning paths that accommodate diverse educational and career backgrounds.
• Mentorship from experienced advisers, offering invaluable guidance and industry insights.
• Development of critical soft skills such as emotional intelligence, collaboration, and client engagement.

“Our PY program is about more than meeting regulatory requirements—it’s about empowering young people to succeed in a dynamic and evolving industry,” Arnol said.

Seizing the opportunity to drive diversity and inclusion

As part of its commitment to the future of financial advice, Viridian is also focused on addressing challenges like gender imbalance in the profession. Through initiatives such as the FAAA Women in Finance scholarship and partnerships with educational institutions, Viridian is driving diversity to better reflect Australia’s population.

“The industry is evolving, and there’s a growing need for advisers who bring new ideas and diverse perspectives,” said Vega Yan, a Viridian PY graduate and FAAA Professional Year Grant for Women recipient. “Viridian gave me the tools to succeed and contribute meaningfully to this transformation.”

A call to HSC graduates: Shape a career that makes a difference

With HSC results to be announced on 18 December, Viridian Advisory is encouraging school leavers to consider financial planning as a career that offers growth, purpose, and the opportunity to positively impact people’s lives.

“This is a unique moment for young talent to step into an industry on the rise,” Arnol said. “The financial advice sector is ready for the next generation to bring fresh ideas, meet increasing demand, and shape its future for years to come.”

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Brett Arnol

Key points

• 93% of advisers found that the skill set required for financial advice has become more complex over the past five years.
• 79% of advisers say access to specialists is crucial for providing quality advice.
• 72% regularly work with other financial advice specialists in tax, aged care, and estate planning.
• 88% report increased use of SMAs to meet growing client needs as advice becomes more complex.
• 86% of advisers are seeing heightened client awareness around data security, driven by increasingly strict regulations.

A recent Adviser Sentiment Poll conducted by Viridian Advisory has revealed that the growing complexity of financial advice is driving an increasing demand for specialist expertise. The poll, which surveyed over 50 financial advisers highlighted that 79% of respondents believe it is critical to have access to financial advice specialists in areas such as tax, estate planning, and aged care to provide comprehensive, holistic and high-quality advice.

Brett Arnol, Co-Founder and General Manager of Advice at Viridian, said, “These days, access to specialists isn’t a nice-to-have—it’s an absolute must. Clients face increasingly complex financial challenges, from tax and estate planning to navigating divorce and aged care. No single adviser can be an expert in all these areas, which is why having a network of specialists is essential. It’s about making sure clients get the right advice from the right people, tailored to their unique situation, and no single adviser can deliver that alone.”

The survey also revealed that 72% of advisers frequently collaborate with other advice specialists when developing financial strategies for their clients, reflecting the growing reliance on external expertise to address a wide range of financial needs. The complexity of financial advice continues to increase, with 93% of respondents indicating that the skill set required for financial advice has become significantly more complex over the past five years.

Viridian’s network of specialists covers a broad range of areas essential to clients’ financial well-being, including investment planning, wealth protection, debt management, and superannuation. Advisers also offer expertise in more niche areas such as aged care advice, UK pension transfers, and SMSF structures. This depth of specialist support ensures that clients receive comprehensive advice that adapts to their changing needs throughout their financial journey.

Additionally, with the recent acquisition of Smartmove, Viridian Advisory has extended its specialist advice to include finance solutions. Smartmove provides tailored lending advice through a panel of over 30 lenders, offering services such as home loans, investment property financing, refinancing, SMSF loans, and commercial lending.

Brett Arnol added, “At Viridian, our team-based model ensures every client is backed by a primary adviser and a network of specialists across Australia. This approach allows us to deliver expert, tailored advice that adapts to each client’s changing needs.”

In response to these challenges, 88% of advisers have reported increased use of Separately Managed Accounts (SMAs) to meet evolving client needs, further underscoring the demand for tailored and diversified strategies.

Cybersecurity identified as key concern for 2025

As the demand for more tailored client solutions grows, cybersecurity has also emerged as a critical priority for financial advisers. The Adviser Sentiment Poll revealed that 86% of advisers are seeing heightened client awareness around data security, driven by increasingly strict regulations.

Raamy Shahien, Joint Chief Executive Officer at Viridian Financial Group, highlighted the importance of protecting client information in today’s landscape.

“With evolving technologies and tighter regulations, data protection has become non-negotiable,” said Shahien.

Viridian’s ISO certification sets a high benchmark for the industry, ensuring rigorous standards in data management.

“Being ISO certified demonstrates our commitment to safeguarding client information, offering a level of trust and security that should be the standard for others in the industry,” Shahien added.

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Melissa Goodman

As part of its ongoing commitment to gender equality and financial empowerment, Viridian Financial Group Limited (‘VFGL’) proudly announces the launch of ‘Pave the Way’. This innovative program aims to revolutionise financial literacy and independence among women, addressing the significant gender gap in financial knowledge.​

A recent Allianz survey revealed concerning statistics, with twice as many Australian women (34%) exhibiting low financial literacy compared to men (16%). In response, Viridian Financial Group is taking proactive steps to bridge this gap with ‘Pave the Way’. Following a successful pilot program involving over 120 women, the company is now eager to expand its reach and impact, just after International Women’s Day on 8 March.

With the support of a dedicated group of VFGL female financial advisers, portfolio managers and team members the program offers participants a comprehensive curriculum covering essential financial topics for such as financial agreements, investment strategies, estate and retirement planning, and superannuation.

Melissa Goodman, Private Portfolio Manager in VFGL’s investment arm, Infinity Capital Solutions, founded the program and is eager to engage and reach more female customers.

“We are thrilled to officially launch and expand the ‘Pave the Way’ program. Through our initial workshops, we have seen firsthand the positive impact that financial education and empowerment can have on women’s lives,” stated Mrs. Goodman.

“As a wealth management business, we have the knowledge and skill set to make a difference to the women in our lives, whether they are our clients, colleagues, family, or friends. At VFGL, we’re focused on breaking down stereotypes that surround women and finance.

“Too often money is a taboo topic among females and Pave the Way offers a safe and constructive space for women to have an open dialogue with one another. From firsthand experiences, we discuss real life events that offers invaluable insights into wide range of financial scenarios including buying a home or changes in family dynamics. This allows us to communicate the importance of financial knowledge at all stages of life”

In addition to workshops with their clients, VFGL has forged strategic partnerships with other service providers in the industry to further support women in their financial journeys. These tailored workshops provide participants with access to additional resources, education, and networking events aimed at fostering a supportive and empowered community.’

Commenting on the expansion of the program, VFGL’s Joint Chief Executive Officer, Raamy Shahien, stated ” Our dedication to narrowing the advice gap remains paramount, ensuring accessible and impactful expert financial guidance for all Australians. We are enthusiastic about the opportunities ahead and steadfast in promoting financial literacy and empowering our clients.​

“Through our partnerships and the dedication of our team, we are confident that we can make a meaningful difference in the lives of women across Australia.”

Moving forward, Viridian Financial Group is committed to building on the success of the ‘Pave the Way’ program and continuing to empower women through financial education and support.

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Piers Bolger

Viridian Advisory, an Australian advisory firm, conducted a poll of its adviser network which covered 41 financial advice practices and the views of over 100 financial advisers. The survey conducted sought to understand the repercussions of global geopolitical events on financial advisers and their clients’ investment decisions and highlighted the unwavering resilience of Australian investors.

The poll reinforced the critical need for augmented support for financial advisers navigating ongoing geopolitical influences. Notably, 73% of advisers agreed additional support is a necessity to effectively communicate and educate clients about the potential implications of ongoing geopolitical tensions.

While economic concerns persist, a notable revelation surfaced: 56% of adviser respondents reported no client inquiries concerning the economic climate. Similarly, financial advisers highlighted that sentiments among clients remained stable, with 55% of advisers expressing unchanged or neutral bearish perspectives, while 41% highlighted their clients exhibited a more pessimistic outlook.

During times of crisis, investors can face heightened stress which can cause knee-jerk reactions that impact their investment strategies.

Amid looming global recession prospects, rising interest rates, and geopolitical conflicts, Australians have turned to financial advisers for personal guidance and reassurance along with wealth creation strategies.

Brett Arnol, General Manager of Viridian Advisory, emphasised that financial advice transcends mere investments; it’s a cornerstone for clients’ overall well-being and financial security.​

“During geopolitical tensions, there’s often a surge in uncertainty triggering potential stock sell-offs. Yet, within our network, our clients remain steadfast,” Arnol observed. “Our clients are oriented toward long-term investments, a stance reinforced by the support our advisors provide. However, amidst this volatile landscape of uncertainty, market fluctuations, and escalating inflation and interest rates, there’s an evident need for additional support.”

“It’s crucial for financial advisers to step in as coaches, guiding clients to maintain focus on their long-term goals and avoid rash decisions prompted by sudden market shocks. Financial advisers have assumed an increasingly pivotal role, extending their support beyond conventional financial planning practices”, said Mr Arnol.

Financial advisers serve as crisis interveners, not only offering guidance on investments but also playing a pivotal role in assuring clients during tumultuous times. Arnol highlighted this broader role, recognising the complexity advisers face as they help clients navigate multifaceted crises, providing support and devising strategies to buffer against future uncertainties.​

Arnol said Viridian Advisory draws heavily on Viridian Financial Group’s in-house investment expertise. Advisers receive the latest market commentary, videos and corresponding strategies to help them explain geo-political trends and issues, as well as local economic trends.

​Cash rates to be key driver of 2024 market outlook​

Piers Bolger, CIO of Viridian Financial Group, highlighted the investment environment in 2024 will be likely dominated by cash rates, “While geopolitical risks along with ongoing military conflict will continue to impact financial markets, our key focus as we head in to 2024 and the one that we believe will have the most significant impact will be the outlook for cash rates and by association inflationary expectations and the direction of bond yields. ​

The moves by central banks over the last 18 months to curb inflationary pressures has resulted in the most substantial uplift in cash rate history across many markets.​

“It is clear central banks are now closer to finishing with rate tightening than they were at the beginning of 2023.  This is fundamentally positive for multiple asset classes – equites, bonds, property, real assets – in our view, and we believe this will translate into higher, more synchronised investment performance across financial markets through 2024”, said Mr Bolger.

Viridian Advisory remains unwavering in its commitment to providing comprehensive support to financial advisers and clients, guiding them through the ever-evolving financial landscape amid this humanitarian crisis.

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Dual structure: Viridian Advisory and Infinity Capital Solutions

Emerging in 2015 from a pioneering team in the Australian financial advice sector, VFGL has consistently held a reputation as a trusted and innovative advisory firm within Australia. The recent transformation into a dual-structured entity, complete with distinct Australian Financial Services Licenses (AFSLs) for Viridian Advisory and Infinity Capital Solutions, represents a significant milestone for VFGL.

The introduction of ICS firmly establishes VFGL as a rapidly growing and innovative presence within the Australian financial industry. Joint CEO of Viridian Financial Group, Glenn Calder, reflects, “This marks a significant stride forward for the firm. Infinity Capital Solutions aligns seamlessly with our mission to offer a comprehensive suite of services that cater to the evolving needs of advisers, clients, and the financial sector as a whole.”​

ICS’s deep-rooted expertise and Four Solution Offerings​

A key advantage of ICS lies in its solid foundation and deep understanding of the Australian financial advice sector, coupled with its insight into the distinct requirements of financial advice firms. ICS is set to serve a diverse clientele, spanning financial advisers, advisory firms, high-net-worth families, wholesale clients, and nonprofit organisations.

Infinity Capital Solutions presents itself through four distinctive solution offerings:

1. Infinity Asset Management (IAM): Delivering institutional-grade investment solutions encompassing diverse asset classes, including Australian equities and multi-sector portfolios. These portfolios are overseen by an experienced team with over a decade’s expertise in running managed accounts.
2. Infinity Portfolio Management (IPM): Tailoring to wholesale clients through personalised Individually Managed Accounts (IMAs), featuring custom investment strategies backed by ICS’s robust resources.
3. Infinity Digital (ID): Fusing digital tools with human interaction, ID equips advisory firms with engagement tools that elevate operational efficiency, security, and client relationships through innovative UX, UI, and data security solutions.
4. Infinity Capital Finance (ICF): Extending a range of fixed-income solutions to wholesale investors within the Infinity Capital Solutions framework, spanning the short to medium term.

Con Koromilas appointed as Head of Distribution for Infinity Capital Solutions

To build the capability of this new entity, VFGL also welcomes Con Koromilas as the Head of Distribution for Infinity Capital Solutions. Koromilas, a seasoned investment management professional, will play a pivotal role in shaping the distribution strategy for the broader advice market. Koromilas takes on this role following a successful fifteen-year tenure at abrdn, where he most recently served as Head of Wholesale – Australia.

Empowering through technology and ISO Accreditation

At the heart of VFGL’s dual-structured approach lies a substantial investment in technology, fortified by VFGL’s ISO 27001 accreditation—an exceptional achievement within the financial advisory sphere. ISO 27001 is a globally recognised certification for Information Security Management.​

This accomplishment underscores VFGL’s enduring commitment to implementing industry best practices and consistently enhancing its information security management system. The accreditation emphasises VFGL’s resolve to manage cyber risks in a landscape fraught with escalating threats, setting a high standard for fellow advisory firms to aspire to.

Glenn Calder remarks, “Since our inception in 2015, VFGL has played an active role in shaping the Australian advisory landscape. The introduction of Infinity Capital Solutions underscores our commitment to providing innovative solutions, expert guidance, and a substantial investment in technology. This strategic emphasis on technology enables VFGL to enhance operational efficiency and offer clients more sophisticated and accessible solutions.”

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Glenn Calder and Darren Little

Viridian Financial Group Limited (VFGL), a leading Australian diversified financial services business, celebrates a significant milestone in its expansion journey with the strategic integration of Smartmove Professional Mortgage Advisors (Smartmove), a well- established provider of mortgage and lending services with over 20 years of experience.

VFGL has experienced remarkable growth in recent years, expanding its team from fewer than 20 to 400 staff members. The company now has over 100 financial advisors and has a unique model whereby all staff are actively promoted into participating in the long-term vision through direct ownership in Viridian.

The integration of Smartmove with VFGL marks a transformational move for both firms, positioning them as a powerhouse in the financial services industry. The Group doubles its client base to 16,000 and reinforces its position among the top non-aligned advice and mortgage broking firms.

Smartmove brings two decades of home and commercial lending capabilities, further diversifying VFGL’s financial services offering. While Smartmove will retain its own brand and team, the alignment with VFGL’s deeply customer-focused culture is strong and shared.

Viridian Financial Group’s latest integration aligns with the Group’s broader strategy, making it easier for clients to access a comprehensive range of financial services, which now includes holistic financial advice provided by a range of subject matter experts, as well as asset management specialists and a mortgage broking capability. This strategic move allows VFGL to reach thousands more Australians, reinforcing its position in the top 10 of non-aligned advice firms.

Commenting on the integration, VFGL’s Joint Chief Executive Officer, Glenn Calder, stated, “In today’s economic environment, Australians more than ever need comprehensive guidance for all their financial aspirations – from fostering wealth to renegotiating mortgages in a rising interest rate environment.

“Our partnership with Smartmove is a testament to our commitment to delivering remarkable client outcomes through a stellar team of professionals deeply devoted to helping people live the life they desire.”

Smartmove Professional Mortgage Advisors, led by Chief Executive Officer Darren Little, brings a wealth of expertise and a team of 80, including 30 experienced mortgage brokers, and international back-office operations. Given Smartmove’s experience and expertise as a leading brokerage in Australia, VFGL will merge its existing broking operations into those of Smartmove. The combined companies will provide an extensive offering of mortgages, loans, and refinancing solutions covering residential and commercial property, vehicles, and equipment.

“We are thrilled to be joining the Viridian Financial Group, a firm renowned for its exceptional trust and strong customer relationships in the advice domain,” stated Mr Little. “Through this collaboration, Smartmove will continue to operate autonomously under its own brand, leveraging the expertise of our existing team and maintaining our client-centric culture that has been the cornerstone of our success.

“Our shared vision with Viridian Financial Group empowers us to unlock new possibilities for our clients. By combining our advanced technology and processing capabilities, we can seamlessly eliminate any friction our clients may face, offering them an enriched range of services and access to specialised financial experts who can cater to their individual needs effectively.”

VFGL has grown organically and also has a strategy of building capability through finding like-minded firms, placing significant emphasis on identifying those with a strong cultural fit and similar values. Today’s announcement comes after VFGL’s recent acquisition of Enlightened Financial Solutions (EFS) in April 2023, a prominent Queensland-based financial planning firm pioneering video advice provision to clients.

Viridian Financial Group’s growth is also driven by its innovation and client-centric solutions. The firm has invested significantly in technology to boost digital advice capabilities and develop future advice solutions. This forward-thinking approach addresses challenges like disintermediation, bridging the industry’s void of a strong sense of community created by dealer groups. Viridian sees technology as a pivotal part of the industry’s future and plans to continue its strategic investment in this area.

Glenn Calder concluded, “Together with Smartmove, we are determined to pave the way for a brighter and financially secure future for Australians. Our commitment to closing the advice gap remains a top priority, ensuring expert financial guidance is readily available and transformative for every Australian. We are excited about the possibilities that lie ahead and remain committed to being at the forefront of progress in the industry.”

The Heads of Agreement between the two firms was officially signed on 20 July 2023, and the completion is on track to be finalised this calendar year.

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Jane Watts

Viridian Financial Group Ltd (Viridian), a self-licensed, national advice business offering wealth and retirement planning, investment management and other solutions, has entered into an agreement to acquire part of Westpac’s BT Financial Advice business.

As part of the transaction, Viridian will also offer BT Group Licensees practices, currently operating under the Securitor and Magnitude brands, the opportunity to join a Viridian owned licensee advice model operating under an Australian Financial Services Licence (AFSL) being established. Viridian also intends to acquire the Securitor and Magnitude brands under its new model, subject to finalising terms with Westpac.

The purchase agreement results in the transfer to Viridian of part of the BT Financial Advice business and some of BT Financial Group’s financial advisers and support staff. The transaction enables Viridian to expand its existing national strategy. Viridian will have national adviser presence through both an employee adviser channel and a licensing model for separately run advisory firms.

The BT Financial Advice advisers, support staff and clients who agree to the transition are expected to transfer to Viridian on the anticipated completion date 30 June 2019. BTGL practices that accept the Viridian licensing model will also be able to commence transferring to the newly established AFSL at a later date.

Viridian Chief Executive Officer and Co-Founder, Glenn Calder, said, “This is an exciting acquisition for Viridian staff, clients and shareholders, setting the firm up for strong growth where industry focus is on fee for service, professionalism and quality advice.”

Since its foundation, Viridian has prided itself on being at the forefront of financial services in Australia. The organisation invests heavily in technology and IT relating to its investment, research and compliance capabilities.

Viridian is a public unlisted company and wholly owned by staff and clients.

Calder said, “This acquisition gives us the opportunity to be a dynamic part of the industry, continuing to invest heavily in IT infrastructure in the long term.”

Under the agreement, after the anticipated completion date of 30 June 2019, Viridian will be a referral partner for new Westpac clients seeking financial advice services.

“I look forward to a strong and co-operative relationship with Viridian Advisory,” said Jane Watts, General Manager, BT Advice.

Calder said that Viridian is fully aware of the magnitude of the task of transitioning staff and clients from Westpac to Viridian. “Every effort will be made to ensure the integration is as seamless as possible. We understand people will be apprehensive, and we are committed to undertaking this process with care and understanding.”

Viridian Chairman Neil McMullin said, “The acquisition has the potential to add value for our shareholders. Having only staff and clients as shareholders means they share our vision for the financial services industry, and especially how that relates to serving our clients.

“We firmly believe the culture we have nurtured at Viridian, with its focus on cutting-edge technology, being client centric and having a strong ethical foundation, will underpin the transition.”

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