FORT MILL, S.C., April 23, 2020 /PRNewswire/ -- Financial Resources Group Investment Services, LLC (Financial Resources Group) and Gladstone Wealth Group are entering a groundbreaking and strategic merger, launching Gladstone Financial Resources Group on May 15. This merger creates the largest enterprise by revenue and assets on the LPL Financial corporate Registered Investment Advisor (RIA). The combined organization will have 670 registered representatives, in excess of $24 billion in brokerage and advisory assets and over $141 million in revenue with over 155 employees.
Under the merger, Financial Resources Group will be responsible for the oversight and support for all the Gladstone Corporate LPL advisors. This support brings nationwide business consulting, marketing, training and technology support from a home office team of 33 professionals.
"We are very excited about this merger, as it enhances our ability to provide services and support to a broader depth of advisors," said Bruce Miller, President of Financial Resources Group. "Robert Hudson and I have worked together since 2016. In that time, we have developed a great personal relationship and share a common vision of support for financial advisors."
"We see this as a tremendous opportunity for our existing and future advisors," said Robert Hudson, Founder of Gladstone Wealth Group. "Bruce and I have known each other for years and, with tremendous respect for one another, have always looked to work together. We felt now was the opportune time for us to leverage one another's business. We are terrific complements, as we focus on attracting and servicing financial advisors or teams of financial advisors with over $100 million in assets under management and have our own RIA, while Financial Resources Group offers best in class infrastructure and resources for all advisors."
"We are proud to partner with Financial Resources Group to become a premier destination for independent advisors," said Richard Frick, CEO of Gladstone Wealth Group. "Together, we will offer multiple platforms to all advisors through four channels, financial institution based advisors, combination financial institution based and independent advisors, and fully independent advisors either through the LPL Corporate RIA or Gladstone's RIA ."
About Financial Resources Group
Financial Resources Group was founded 10 years ago in Charlotte, NC where it began providing tailored services to wealth management programs for banks and credit unions to help them grow their businesses. Today, Financial Resources Group services over 80 financial institutions and 620 registered representatives nationwide providing services that include, but are not limited to business development, onboarding, marketing support, and technology. Representatives are registered through LPL Financial as their broker-dealer.
About Gladstone Wealth Group
Founded in 2013, Gladstone Wealth Group was created by advisors, for advisors in order to help them reach their maximum potential when going independent. Gladstone provides the necessary tools for advisors to have a complete independent business to include transition assistance, full-time compliance support, marketing assistance, human resources support, administrative assistance to name a few. Based in Chester, NJ, Gladstone Wealth Group is a rapidly growing RIA with 32 advisor offices nationwide.
About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation's largest independent broker-dealer*. They serve independent financial advisors, professionals, and institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL Financial enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
* As reported by Financial Planning magazine, June 1996-2019, based on total revenue.
Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC.
SOURCE Gladstone Wealth Group; Financial Resources Group