Expands Advisor Network in the Northwest
Adds Tax Practice Capabilities and CPA Staffing
Boston, MA. – May 19, 2021 – Edelman Financial Engines, the nation’s top independent financial planning and investment management firm, today announced the acquisition of Viridian Advisors, an independent, 100% employee-owned firm providing comprehensive financial planning, investment management, and tax planning and preparation services to individuals, families, and businesses. The transaction is expected to close in the second quarter of 2021.
Based in Bothell, Washington, Viridian manages over $846 million for more than 800 clients.1 The acquisition allows Edelman Financial Engines to continue to grow and expand its offering by adding a team of CPAs, financial advisors, and client service associates to its nationwide network to provide clients with bundled financial planning, investment management, and tax planning services.
“Through our mergers and acquisitions over the last 5 years, we have thoughtfully built a unique RIA and planning platform that delivers high-quality and high-touch personalized financial help to our nearly 1.3 million clients today,” commented Larry Raffone, President & Chief Executive Officer, Edelman Financial Engines. “The acquisition of Viridian marks the beginning of a new chapter of growth for our business, our clients and how we serve them.”
“As our clients’ financial lives become more complex, we need to anticipate and adapt to their needs,” added Jason Van de Loo, Executive Vice President and Head of Retail, Edelman Financial Engines. “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.”
“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 #1 independent RIA in the industry,” said Adriel Tam, Chief Executive Officer, Viridian Advisors.
Adriel Tam will join Edelman Financial Engines as the Head of its Tax Practice.
Baker & McKenzie International served as Edelman Financial Engines’ counsel in connection with the transaction. Stokes Lawrence, P.S. served as Viridian’s counsel.
About Edelman Financial Engines
Since 1986, Edelman Financial Engines has been committed to always acting in the best interest of our clients. We were founded on the belief that all investors – not just the wealthy – deserve access to personalized, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisor, as recognized by Barron’s,2 with 150+ offices across the country and entrusted by 1.3 million clients to manage more than $270 billion in assets.3 Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high-touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves.
About Viridian Advisors
Viridian is an independent, 100% employee-owned firm providing comprehensive financial planning, investment management, and tax planning/preparation services to individuals, families, and businesses.
Viridian is a Northwest firm, founded in the State of Washington with clients across the United States and overseas. Viridian is built to help businesses, families, and individuals navigate the roadblocks, windfalls, and financial challenges they face. Viridian understands the demands of life can create a complex combination of goals, dreams, setbacks, and realities. At Viridian, clients find professional investment advisors, tax accountants, and financial planners to guide them through these challenges.
1Data as of 5/5/2021.
2The 2020 America’s Best RIA Firms Independent Advisory Firm Ranking issued by Barron’s is qualitative and quantitative, including assets managed, technology spending, staff diversity, succession planning, the size and experience of teams, and the regulatory records of the advisors and firms. Firms elect to participate but do not pay to be included in the ranking. Investor experience and returns are not considered.
3Data as of 3/31/2021.