Edelman Financial Engines, an independent financial planning and investment firm, has announced the acquisition of Viridian Advisors, an employee-owned advisory group, for an undisclosed fee.
Based in Washington, Viridian’s services cover financial planning, investment management, tax planning, and preparation services to individuals, families, and businesses.
The deal is expected to close in Q2 FY21, and will expand Edelman’s team of CPAs, financial advisors, and client service associates.
Larry Raffone, president and CEO at Edelman, said that the acquisition “marks the beginning of a new chapter of growth” at the business.
Jason Van de Loo, executive vice president and head of retail at Edelman, added: “Through this acquisition, we are adding a successful tax practice to our platform and adding depth to our team of financial planners who share a commitment to delivering a rich, best-in-class client experience.
“This broader offering will appeal to new clients, deepen relationships with existing clients and attract the best planner talent to Edelman Financial Engines.”
As a part of the deal, Adriel Tam, CEO at Viridian, will join Edelman as head of the group’s tax practice.
He said: “I am very proud of what we have accomplished at Viridian and am excited about the opportunity to achieve my vision and develop a distinctive tax practice platform on a nationwide scale as part of the number one independent RIA in the industry.”