Financial advisor Rajat Rajan of newly launched Tranquil Advisors in Bethesda, Md. has aligned with Gladstone Financial Resources Group, a registered investment advisor in Chester, N.J., to join LPL Financial’s broker-dealer, corporate registered investment advisor and custodial platforms, according to an announcement today from LPL.
Formerly of Wells Fargo, Rajan managed about $125 million in brokerage, advisory and retirement plan assets. Rajan has 32 years of experience in the industry, nine of which were spent at Wells Fargo, according to BrokerCheck. He began his career at UBS, where he spent 20 years.
The release said Rajan began evaluating options about two years ago after recognizing a need to take more control of his business. It said he launched his new independent practice in the greater Washington, D.C. area, providing retirement planning, asset management and financial planning to small- to mid-sized companies, the released noted. Rajan also noted that the move to LPL and Gladstone is the first time in his career that he has changed affiliations by choice.
“Every decision throughout each step of this new partnership was guided by a single question: ‘How do my clients benefit?’” Rajan said in a statement. “With LPL and Gladstone, I’m able to leverage a vast amount of resources and capabilities where I don’t feel boxed in. I have the freedom and flexibility to operate my business as I see fit with my clients’ best interests in mind. Also, because of the open architecture and the fact that LPL does not offer proprietary products, I can customize options and build a completely tailored portfolio model for my clients.”
Richard Frick, managing partner and CEO at Gladstone Wealth Partners, said Gladstone is excited to support Rajan in his transition to independence. “The combination of our team’s dedicated support with access to LPL’s integrated technology and product offering creates a strong foundation for our advisors to launch and grow successful practices. This will be our first push into the D.C. metro market and in partnership with LPL, we continue our rapid growth in 2020.”