Integrity Hits $40B in Assets Under Management and Advisement with Acquisition of Gladstone Wealth Partners

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Dallas-based Integrity Marketing Group has acquired Gladstone Wealth Partners in a deal that brings Integrity’s total assets under management and advisement to roughly $40 billion.

That’s double the amount Integrity had under management just two years ago. In December 2021, the company received a $1.2 billion investment in a raise led by tech investment firm Silver Lake, giving it a minority stake in Integrity.

Integrity is a leading distributor of life and health insurance and provider of wealth management and retirement planning solutions. Gladstone is a wealth management firm that offers registered independent adviser and broker-dealer services.

Acquisition is one of the largest in Integrity’s history

Integrity said the acquisition is one of the largest transactions in its history. Financial terms of the deal were not disclosed.

“Integrity continues to actively grow its wealth management business through purposeful partnerships that strengthen and expand our offerings for advisers,” Bryan W. Adams, co-founder and CEO of Integrity, said in a statement. “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.”

Integrity: Partnership will position the company for sustained growth and value creation

Integrity said the partnership will help accelerate its 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 said it expects the partnership, which was first announced in August, to provide ongoing support of Gladstone in its year-over-year increase in revenue, portfolio growth, and adviser recruitment through the addition of Integrity’s extensive and exclusive partner services.

“Even in today’s economic climate, Gladstone has maintained a strong trajectory of growth and expansion,” Tom Dempsey, chief distribution officer of Integrity, said in a statement. “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.”

Under terms of the acquisition agreement, Robert Hudson, founder and chairman of Gladstone, and Richard Frick, Gladstone CEO, will continue leading operations at Gladstone.

They also will assume additional roles as managing partners at Integrity, adding their acumen and 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,” Hudson said in a statement. “Gladstone’s extensive adviser 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 via additional acquisitions of notable companies such as Lion Street, WealthFirm, Ash Brokerage, Annexus and others, the company said.

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R E A D   N E X T

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