Viridian launches investment management business, announces dual structure

Viridian Financial Group has launched Infinity Capital Solutions (ICS), a specialised division aimed at strengthening its presence and collaboration with advisory firms throughout Australia.

Notably, the group has now evolved into a dual-structured entity, holding separate Australian Financial Services (AFS) licences for both Viridian Advisory and ICS.

According to Viridian, ICS will leverage its already well-established presence within the advice market to provide a range of new solutions to financial advisers and cater to the evolving demands of the industry.

Joint chief executive of Viridian Financial Group, Glenn Calder, commented: “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.”

Namely, ICS is set to serve a diverse clientele base spanning advisers, advisory firms, high-net-worth families, wholesale clients, and non-profit organisations.

To do so, the new business will be presented through four distinct offerings – Infinity Asset Management (IAM), Infinity Portfolio Management (IPM), Infinity Digital (ID), and Infinity Capital Finance (ICF).

As part of this, IAM will deliver institutional-grade investment solutions that encompass diverse asset classes, including Australian equities and multi-sector portfolios.

Additionally, IPM will tailor wholesale clients with a range of personalised individually managed accounts, while ICF is set to extend a range of short-to-medium term fixed-income solutions to wholesale investors.

ID, meanwhile, will equip advisory firms with engagement tools that elevate operational efficiency, security, and client relationships through UX, UI, and data security solutions.

Speaking on Viridian’s latest offering, Mr Calder added: “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.”

The announcement comes after Viridian secured Queensland-based boutique financial planning firm Enlightened Financial Solutions (EFS) in April.

EFS, which works with pre-retirees and retirees with complex finances, has notably adopted a video statement of advice (SOA) model, which Viridian said it planned on leveraging across its group.

Head of distribution appointed

Following the launch of ICS, Con Koromilas has been named head of distribution, where he will “play a pivotal role in shaping the distribution strategy for the broader advice market”, according to Viridian.

Mr Koromilas is a seasoned investment management professional, joining the group after a 15-year stint at abrdn.

Most recently, he served as head of wholesale, Australia, and has held a number of account management and wholesale roles during his tenure with abrdn.