Viridian Financial Group Limited (VFGL) has announced a new dual structure, with Viridian Advisory and a new specialised division to hold distinct AFSLs as the firm expands its presence in the advice landscape.
The new division, Infinity Capital Solutions (ICS), will span four distinctive solution offerings and is set to serve a diverse clientele across financial advisers, advisory firms, high-net-worth families, wholesale clients, and non-profit organisations.
Con Koromilas will lead the new division as head of distribution, taking on the role after a 15-year tenure at abrdn, where he most recently served as head of wholesale – Australia.
The four divisions will be:
- Infinity Asset Management
- Infinity Portfolio Management
- Infinity Digital
- Infinity Capital Finance
Infinity Asset Management will deliver institutional-grade investment solutions encompassing diverse asset classes, including Australian equities and multi-sector portfolios; and Infinity Portfolio Management will cater to wholesale clients through personalised individually managed accounts.
Infinity Capital Finance will extend a range of fixed-income solutions to wholesale investors within the Infinity Capital Solutions framework, spanning the short to medium term.
Finally, Infinity Digital will equip advisory firms with engagement tools that elevate operational efficiency, security and client relationships through innovative UX, UI and data security solutions.
Glenn Calder, joint chief executive at Viridian, believes the move 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,” he said.
In April, the firm acquired Queensland-based financial planning firm Enlightened Financial Solutions (EFS) and was expected to leverage EFS’ digital capabilities as a leader in the use of video Statements of Advice (SOA).
“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,” said Viridian’s joint chief executive, Raamy Shahien, at the time.
