Coast-to-Coast Network Retains Boutique Culture Amid Significant Growth
DALLAS, Jan. 18, 2023 — Prospera Financial Services, Inc. (“Prospera”), a boutique wealth management firm supporting a nationwide network of independent advisors, capped five years of significant growth as it reached its 40th year in operation in 2022.
Prospera revenue has increased 113% over the past five years, reflecting both organic growth and an active M&A focus, including the $1 billion-plus acquisition of Dorsey & Company which joined the firm in 2021. Along with these acquisitions and recruiting efforts, Prospera has also seen an increase in existing advisors’ growth, with an average growth of 15% annually over the last 36 months.
“We’re thrilled to be celebrating this milestone,“ said Co-CEO and Managing Partner Tim Edwards. “The tremendous growth we’ve seen at the firm over the past few years confirms that our Success Your Way culture continues to resonate with independence-minded advisors across the country.“
Innovative New Services and Programs Enhance Advisor and Client Service
The firm’s recent focus on innovation has yielded several new services and programs that support its advisors and their clients.
• Protect Engagement Score: This new reporting system helps advisors understand best practices around risk and compliance. This tool was named winner of the WealthManagement.com Industry Awards (Wealthies) in 2022 in the Practice Management category for broker-dealers with fewer than 1,000 advisors.
Boutique Culture Maintained Through Significant Growth
Prospera’s leadership team puts a premium on listening to and acting upon advisor feedback. Even through its recent expansions, the team remains committed to a 2.4:1 rep-to-home office ratio to ensure every advisor receives the personalized support they deserve. Prospera was awarded the CEO of the Year for its Co-CEOs David Stringer and Mr. Edwards at the Wealthies in 2022, largely due to the continued focus on the advisor experience.
Thanks to its investment in internal staff growth and career development, the firm saw a record number of internal promotions in 2022, most notably in the naming of the firm’s first president, Tarah Williams. Ms. Williams, a 26-year industry veteran, has been with the firm for 15 years and has held various leadership roles including Senior VP of Marketing, Chief Administrative Officer, and most recently, Chief Operating Officer, a title which she still maintains today.
“When we invest in our people, innovative technologies and additional services, we’re really investing in our advisors,” said Ms. Williams. “As we head into our next decade, our advisor-centric approach — and how we live it every day — continues to inform all we do. Its success isa testament to the enduring value financial advisors place on personalized service and the freedom to define their own success.“
About Prospera Financial Services
Founded in 1982, Prospera Financial Services, Member FINRA, SIPC and a registered investment advisory, offers the flexibility and resources only found at some of the nation’s largest broker-dealers. Headquartered in Dallas, TX, Prospera was named Broker-Dealer of the Year by Investment Advisor Magazine in 2009, 2010, 2012, 2014, 2015, 2018 and 2019. Prospera is a 5-time winner and 7-time finalist for WealthManagement.com’s Industry Awards as well as a ThinkAdvisor Luminaries award winner in its inaugural year. The firm supports independent financial advisors nationwide. For more information about Prospera, visit www.joinprospera.com.