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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Brett Jollie

Aberdeen Standard Investments (ASI) has signed two more financial planning firms to its separately managed account (SMA) service, as it continues to rapidly grow its presence in the market.

Queensland-based financial planning licensee Futuro Financial Services and WA-based advice firm Profusion Planning are the latest to have joined ASI’s SMA Service, which manages 18 multi-asset, Australian equities and ETF managed portfolios both privately for specific advice businesses and on public menus.

Con Koromilas, Aberdeen Standard Investments Head of Wholesale Sales said ASI’s SMA service was designed to support the new business models required of advice firms to reduce the cost and complexity in efficiently servicing clients in a consistently compliant manner.  The investment solutions embrace goals-based investing to deliver specific outcomes for clients through all market conditions.

“After a decade of structural change, increased regulation and industry reform, many financial planners are finding it difficult to balance an increased compliance burden and still give their entire book of clients the individual attention they deserve”.

“Our separately managed account solutions give time back to advisers so they can service each of their clients the way they want to, with the trust and backing of ASI’s team of over 1000 investment professionals, including 120 multi-asset experts,” Koromilas said.

ASI has provided Australian advice firms with outcome-oriented managed accounts tailored to the goals of their clients since 2017. These SMAs can be used on whichever platform an advice firm nominates, and deliver an end-to-end transparent model with compelling pricing and no reliance on rebates, which is a critical aspect for advice firms.

Aberdeen Standard Investments Australia Managing Director Brett Jollie said the Australian SMA market was a significant growth opportunity for ASI, as research showed strong adviser demand for their use and indicated half the industry could be using them by 2022.

“We’re expecting very strong growth in both the number of SMA portfolios we offer and our SMA funds under management because of our ability to provide wholesale advice firms with institutional-grade resources, risk management frameworks, and capabilities at institutional prices,” he said.

Profusion Planning Director Brad Dudumas said the Perth-based firm had already realised the benefits of ASI’s SMA solutions.

Dudumas said “The implementation of ASI’s goal-based models enables closer alignment to our client’s individual objectives as well as greater flexibility when managing downside investment risk. In addition, we have been able to strip back cost for our clients which was a key focus for us.”

Paul Kelly, Managing Director of the group that owns Futuro Financial Services and Insight Investment Services said “partnering with ASI to deliver bespoke SMA solutions will make recent and future periods of market instability far more manageable for our member firms and independent financial adviser partners.”

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