Viridian Financial Group Limited (VFGL) has announced a major expansion of its mortgage broking business by integrating Smartmove Professional Mortgage Advisors (Smartmove) into its ranks.
This “strategic integration” is set to double VFGL’s client base, bringing the total number of clients to an impressive 16,000, while also boosting the mortgage broking team six-fold from six to 36.
Given Smartmove’s well-established brokerage in Australia, VFGL will merge its existing broking operations into those of Smartmove, which will retain its own brand and team of 80, including 30 mortgage brokers.
The combined companies will provide an extensive offering of mortgages, loans, and refinancing solutions covering residential and commercial property, vehicles, and equipment.
Smartmove CEO Darren Little (pictured above left) said the company was thrilled to be joining the Viridian Financial Group, a firm renowned for its “exceptional trust and strong customer relationships in the advice domain.”
“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,” Little said.
“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 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.
VFGL CEO Glenn Calder (pictured above right) said 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,” Calder said.
Thursday’s announcement came after VFGL’s recent acquisition of Enlightened Financial Solutions (EFS) in April, a prominent Queensland-based financial planning firm pioneering video advice provision to clients.
“Together with Smartmove, we are determined to pave the way for a brighter and financially secure future for Australians,” Calder said.
“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 were officially signed on July 20, 2023, and the completion is on track to be finalised this calendar year.
