Viridian using ‘no dickheads’ scale to rate financial advisers
The advisory will likely be snatched by US private equity shop TA Associates. Will the firm’s innovative pay characterisations survive the acquisition?
With blood in the streets in the aftermath of the banking royal commission, Glenn Calder was buying. His Viridian Advisory hoovered-up talent from Westpac’s 2019 exit from providing financial advice. Calder reportedly travelled the length of the country to offer Westpac-aligned advisers – several hundred of them from Securitor and Magnitude – a spot on his life raft.
Calder knew where the talent was in Westpac’s then-sprawling adviser network. He came up through it. So too did Viridian co-CEO Raamy Shahien and his other co-founder Jim Tellis. Viridian’s three amigos have now negotiated a life-changing pay day.
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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
