InsuranceIntegrity Closes Acquisition of Gladstone Wealth Partners

Partnership strengthens company's wealth management expertise and expands synergies that allow for more holistic and comprehensive financial planning solutions
PRNewswire PRNewswireJanuary 12, 20238 min

Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced the closing of its acquisition of Gladstone Wealth Partners, LLC (“Gladstone”), a leading wealth management firm offering registered independent advisor and broker-dealer services. This transformative acquisition of Gladstone, which was one of the largest transactions in Integrity’s history, brings Integrity’s total assets under management and advisement to approximately $40 billion. Financial terms of the acquisition were not disclosed.

This partnership will help accelerate Integrity’s strategy by strengthening its holistic offerings for financial planning and amplifying its wealth management expertise, positioning the company for sustained growth and value creation. Integrity expects the partnership, first announced in August, to provide continued support of Gladstone in its impressive year-over-year increase in revenue, portfolio growth and advisor recruitment through the addition of Integrity’s extensive and exclusive partner services.

“Integrity continues to actively grow its wealth management business through purposeful partnerships that strengthen and expand our offerings for advisors,” explained Bryan W. Adams, Co-Founder and CEO of Integrity. “Today’s leading financial professionals know their clients need innovative wealth management strategies to help secure their hard-earned assets and safeguard their retirement. By integrating Integrity’s omnichannel capabilities with Gladstone’s top-tier financial service expertise, we can offer more comprehensive and holistic life, health and wealth planning solutions to more people than ever before. We look forward to providing ongoing innovation coupled with Gladstone’s impressive leadership, as we advance our shared mission of helping Americans plan for the good days ahead.”

“Even in today’s economic climate, Gladstone has maintained a strong trajectory of growth and expansion,” said Tom Dempsey, Chief Distribution Officer of Integrity. “Since our initial agreement to partner, Gladstone’s portfolio grew at a rate more than double that of the S&P 500. While investor sentiment remained mixed to negative, Gladstone continued their streak of positive net flows each and every month. That is a remarkable achievement — especially considering the conditions surrounding equity markets during that time. It showcases well the visionary leadership of Gladstone, and the prowess of the expert team they’ve assembled. It also shows why we are so thrilled to officially welcome Gladstone to the Integrity family!”

Under terms of the acquisition agreement, Robert Hudson, Founder and Chairman of Gladstone, and Richard Frick, CEO of Gladstone, will continue leading operations at Gladstone. They will also take on additional roles as Managing Partners at Integrity, adding their sharp acumen and impressive wealth management expertise to Integrity’s omnichannel platform of partner companies that offer everything from health and life insurance products, data analytics, third-party administration and advertising, to financial planning and wealth management.

“One of the most exciting aspects of this partnership is the far-reaching impact our synergies will have on the entire financial services industry,” said Robert Hudson, Founder and Chairman of Gladstone. “Gladstone’s extensive advisor support architecture and executive guidance perfectly complement Integrity’s full suite of technology, products and services in a way that empowers us to initiate more holistic outcomes for our advisors’ clients. Together, we will work to create a seamless ecosystem that gives financial service and insurance professionals the systems and resources they need to help their clients achieve lifelong financial goals.”

Integrity has advanced its vision of innovating financial services for all stakeholders through additional acquisitions of notable companies such as Lion Street, WealthFirm, Ash Brokerage, Annexus and others. In concert with its relationship with Gladstone, these strategic partnerships expand Integrity’s national footprint and provide advisors with access to Integrity’s proprietary platform, offering cutting-edge product development and best-in-class technology to complement its product portfolio.

All partners also receive access to a body of unparalleled industry expertise through Integrity’s esteemed partner network. This trailblazing group of legends and icons regularly collaborate to refine best practices, develop strategies and optimize processes that protect the life, health and wealth of all Americans.

“We’re honored to join Integrity on its transformational journey to comprehensively improve financial services,” shared Richard Frick, CEO of Gladstone. “Alongside Integrity, Gladstone is deeply committed to purpose-driven growth that exceeds our already impressive track record. Successful financial planning must account for a full spectrum of broad-based client needs to provide the peace of mind Americans desire when planning for, moving into and experiencing retirement. We are excited about integrating with Integrity’s world-class resources to help advisors develop even more compelling and personalized recommendations that help build and protect wealth and assets, so their clients can make the most of what life brings.”

 

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