Move reflects firm’s commitment to providing tailored service to advisors creating a succession plan or seeking to acquire a practice
DALLAS, Nov. 15, 2023 — Prospera Financial Services, Inc. (“Prospera”), a boutique wealth management firm supporting a nationwide network of independent advisors, today announced the expansion of its “Succession Your Way” capabilities to include three distinct options. By enhancing the choices available, Prospera empowers advisors to approach their succession planning process in a manner that is best for their clients and their specific situation, while receiving expert, personalized support from the Prospera home office team.
In recognition of the different options financial advisors consider when exiting the business, the Succession Your Way models include:
- Associate Advisor: Prospera provides customized support to advisors who have sourced and are developing an associate advisor with plans to become a successor.
- Advisor Practice Exchange Program (APEX): Guided advisor-to-advisor process for practice transitions led by a dedicated Prospera home office team.
- Prospera Wealth Advisors (PWA): Prospera purchases the book of business to be managed by an in-house PWA advisor.
“At Prospera, our advisors have always enjoyed the freedom to build their businesses how they see fit – we call it Success Your Way. Our expansion of three ‘Succession Your Way’ offerings are a natural extension of that flexibility applied to exiting the business,” said Tarah Williams, Prospera’s President and Chief Operating Officer. “Just as each advisor measures success differently, they will be able to approach succession planning on their own terms. No matter which program they choose, our dedicated specialists are with them every step of the way.”
All three programs are interactive and can accommodate the unique needs of each advisor as they navigate the complex and multi-faceted process of selling or acquiring a practice. Through Prospera’s in-house succession experts, financial advisors are guided through the entire transition, instilling confidence, minimizing stress and helping ensure an optimal outcome.
“These are comprehensive programs,” continued Williams. “We can connect advisors with valuation services and lenders as well as attorneys familiar with the sales process and all it entails. We want our advisors to proceed secure in the knowledge they are not alone. Having a specialist available to talk things through, offer an objective perspective and help develop a customized succession plan is invaluable. Our advisors deserve this level of support and we’re proud to facilitate seamless transitions between advisors considering retirement and growth-oriented nextgen successors, in the manner that best suits everyone.”
In delivering a dedicated practice management specialist to manage the succession process from beginning to end, as well as a dedicated transition team to handle plan execution, Prospera’s “Succession Your Way” models provide much needed support to older advisors seeking to monetize what they have spent a lifetime building, as well as growth-oriented advisors looking to acquire a practice or become a successor.
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, Prospera was named Broker-Dealer of the Year by Investment Advisor Magazine in 2009, 2010, 2012, 2014, 2015, 2018 and 2019.
Prospera is a 7-time winner and 10-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.
