Viridian Financial Group has announced the acquisition of Queensland-based financial planning firm Enlightened Financial Solutions (EFS).
A leader in the use of video Statements of Advice (SOA), EFS’ digital capabilities were expected to be leveraged across the financial group.
It was founded in 2007 and focused on working with pre-retirees and retirees with complex finances.
James Wortley, founder and chief executive of EFS, said they were “thrilled” to be joining the financial group.
“As a firm, we are known for providing clear and trusted advice and I am extremely proud of the role our firm has played in supporting the financial needs of our clients,” Wortley stated.
“Joining Viridian will allow us to continue to pursue our business growth strategy while better supporting our existing clients by accessing cyber security technology and building on our digital advice engagement with clients.”
EFS was one of the first businesses in the country to implement the use of video SOAs and had a long history of innovation in the financial advice sector, moving to a fee-for-service model over a decade ago.
Following the acquisition, EFS would continue to operate under its own brand.
Viridian Financial Group’s joint chief executive, Raamy Shahien, believed this partnership aligned with the group’s strategy of joining forces with the industry’s best advisers and advice firms.
“EFS is a fast-growing financial planning business with an innovative advice model and a culture that is closely aligned with Viridian’s,” he said.
“We are particularly impressed by the innovations the EFS team has made with their digital SOAs and believe this closely aligns with our own aspirations.
“Viridian’s commitment to ongoing investment in technology, specialist capabilities, and a focus on championing advice will be highly attractive to many Australian advice firms looking for a partner to help grow their business and improve efficiency for clients.”
