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LPL Financial and Gladstone Wealth Group welcome financial advisor Michael Palace


Michael Palace has joined Gladstone Wealth Group (Gladstone), an independent wealth management firm that provides fee-based business through Private Portfolio Partners, a hybrid RIA firm supported by LPL Financial.

In addition, Palace has joined LPL’s broker-dealer platform for his commission-based business. Palace reported that, based on prior business, he had serviced approximately USD130 million of client assets, as of 30 April, 2015. 
Palace will open a new Gladstone office in Red Bank, NJ, and plans to add a second advisor at this location. Palace provides customised financial planning for mass affluent and high-net-worth clients as well as pre-retirement and retirement planning, including income generation and wealth transfer strategies. His clients are located throughout the country, with the majority in New York and New Jersey.
“I am excited to join Gladstone Wealth Group and to have access to LPL’s open-architecture platform,” says Palace. “The opportunity will enable me to provide objective recommendations that are carefully matched to my clients’ individual goals and financial needs. With the support of Gladstone and LPL through the transition, I have been able to focus my energies on serving the needs of my clients, and I look forward to continuing to build my practice.”
Robert P Hudson III, president of Gladstone Wealth Group, says: “We are very pleased to welcome Michael Palace to our firm. Gladstone is eager to provide a home for industry-leading independent financial advisors with outstanding reputations and exceptional records of performance and execution, and whose capabilities augment our ensemble practice. Michael is a wonderful fit for our growing organisation.”
Gladstone is based in Bedminster, NJ, and has been supported by LPL since 2012 when it joined the hybrid RIA firm of Private Portfolio Partners. Gladstone began with only one advisor, and has since grown to be a team of eight independent advisors and two support staff. They also have the additional referral resources of a private banker, three insurance specialists, a CPA and an estate planning attorney. Gladstone seeks to provide its clients with objective and conflict-free advice, and to give them the necessary tools to pursue their financial objectives.
“In the short span of time that Gladstone has been on LPL’s hybrid RIA platform, it has grown substantially and brought on outstanding professionals,” says Steve Pirigyi (pictured), executive vice president of business development, LPL Financial. “We are happy to see them continue to grow by recruiting highly respected talent like Michael Palace, and to support them with the tools and resources that will enable them to help their clients pursue their financial goals.”

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