What Prospera Financial Services does

Prospera Financial Services is a privately held boutique independent broker-dealer and registered investment advisor founded in 1982 in Dallas, Texas, by Tim Edwards, David Stringer, and Richard Pascuzzi, all three of whom remain active in senior leadership. The firm supports a nationwide network of approximately 230 independent financial advisors operating across 125 locations in all 50 states, with total platform AUM of $28-29 billion as of early-to-mid 2026. Prospera is positioned as a boutique alternative to large wirehouses, marketed around three pillars — independence, flexibility, and support — and codified internally through a "28 Core Fundamentals" cultural framework.

The firm's core offering is a proprietary advisor platform composed of the Your Way module suite (Grow Your Way for practice management, Marketing Your Way for branding and communications, Research Your Way aggregating third-party research from Wells Fargo Securities, Credit Suisse, S&P, ValuEngine, Moody's, KDP, and Dorsey Wright, Insurance Your Way, and Walk This Way for advisor referrals), an Advisory Portfolio Modeling Tool for blended tactical/boutique manager portfolios, the Launch Your Way turnkey transition system with Salesforce CRM integration (claiming a 90% asset transfer rate), and an Enhanced Advisor Platform with streamlined navigation. Specialized programs include the Prospera Generational Wealth Platform (launched 2024, providing estate planning, donor-advised funds, tax planning, and alternative investments for ultra-high-net-worth clients in all 50 states), the Operations Concierge Program, and the Advisor Experience Program. Clearing relationships are maintained with First Clearing (Wells Fargo) and RBC Clearing & Custody.

Prospera generates revenue through three primary streams: broker-dealer commissions and transaction fees from securities trading, recurring advisory fees through its RIA registration, and revenue-sharing arrangements with advisors based on production levels. The firm enforces minimum eligibility thresholds of $300,000 in annual production and $30 million in AUM, and reports average per-advisor production of approximately $644,000 against a 2.4:1 advisor-to-back-office-staff ratio. Go-to-market is sales-led via an internal business development team led by SVP Tony Montanari, supplemented by acquisitions of independent broker-dealers and advisor teams, and reinforced by annual events including the Director's Circle (top advisor recognition), Annual Conference, Sales Assistant Conference, Generational Wealth Forum, and Service Associate University. The firm is FINRA-registered and SIPC-member, and has been recognized as a seven-time Investment Advisor Magazine Broker-Dealer of the Year and a 2024 InvestmentNews 5-Star Broker-Dealer.

Name

Prospera Financial Services

Legal name

Prospera Financial Services, Inc.

Website

https://prosperafinancial.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

51–100 employees

Short description

Prospera Financial Services is a privately held boutique independent broker-dealer and RIA, founded in 1982 in Dallas, Texas, supporting approximately 230 independent financial advisors across 125 U.S. locations with $28B+ AUM and proprietary transition, practice management, and UHNW wealth platforms.

Ownership category

akta.pro rank

Product category

Independent Broker-Dealer Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

akta.pro secondary industries

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI), Family Office Advisory & Outsourced CIO (OCIO) (FSAAADAC)

Keywords

• Independent broker-dealer
• Registered investment advisor
• Wealth management services
• Advisor transition support
• Practice management platform

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Broker-Dealer Services: Commissions and transaction fees from securities trading executed through the platform. Supports independent advisors who execute trades on behalf of their clients.
2. Advisory Services: Fee-based advisory services where advisors manage client assets under Prospera's RIA registration. Revenue generated through advisory fees on managed assets.
3. Revenue Sharing: Revenue sharing arrangements with advisors based on production levels. Average production per advisor is approximately $644,000.

Pricing tiers

Go-to-market motion4 records

Distribution channels1 record

Marketing channels9 records

Core offering

Prospera Financial Services is a boutique independent broker-dealer and registered investment advisor (RIA) that provides independent financial advisors with a back-office platform to launch, operate, and grow their practices while serving retail and UHNW clients. The firm delivers custody and trading infrastructure, compliance and supervision, advisor transition support (Launch Your Way), a modular Your Way practice platform, business consulting and practice management, and a multi-custodial Prospera Generational Wealth Platform for UHNW households, generating revenue through transaction fees and recurring advisory/subscription fees.

Product overview

Prospera Financial Services operates as a boutique independent broker-dealer and registered investment advisor (RIA) supporting a nationwide network of independent financial advisors. The core platform is complemented by specialized programs including Launch Your Way for advisor transitions, the Generational Wealth Platform for ultra-high-net-worth family office services, and the Operations Concierge Program for high-touch operational support. The company's proprietary toolset includes an Advisory Portfolio Modeling Tool for custom portfolio creation, the Your Way module system (encompassing practice management, marketing, research, and insurance support), and a Research platform combining multiple third-party and proprietary research sources. Clearing services are provided through First Clearing and RBC Clearing & Custody. The company also runs Service Associate University for staff training and the Advisor Experience Program for advisor relationship management.

Differentiator

Problem solved

Functional benefit

Brands

• Launch Your Way: A turnkey transition system for advisors joining Prospera that walks them step-by-step through the transition process from planning to launch.
• Success Your Way
• Prospera Generational Wealth

Products and services

• Independent Broker-Dealer and RIA Platform (Prospera Platform) The foundational Prospera platform that gives independent financial advisors a turnkey, boutique-cultured back office to run their wealth management practices, including custody and trading, compliance supervision, business consulting, and access to wealth management and financial planning services.
• Launch Your Way (Advisor Transition System) A structured advisor transition program and Salesforce-integrated system that moves advisors and their books of business from wirehouses or captive channels to Prospera with documented process steps.
• Your Way Modules (Practice Your Way, Branch Your Way, Find Your Way, Research Your Way, Connect Your Way, Lead Your Way, Train Your Way, Invest Your Way, Insure Your Way, Care Your Way) The proprietary Your Way modular platform that lets independent advisors customize the mix of practice management, branch, recruiting, research, CRM, lead generation, training, investment, insurance, and back-office services available on the Prospera enhanced advisor platform.
• Prospera Generational Wealth Platform A multi-layered UHNW wealth platform that combines a dedicated wealth strategist and advisory team with specialized capabilities (family office, M&A advisory, alts, sports & entertainment, risk management/insurance, qualified plans) and a dedicated client relations team to serve ultra-high-net-worth and multi-generational households through Prospera's independent advisors.
• Operations Concierge Program A dedicated operations support offering that gives independent advisors prioritized, concierge-style assistance with back-office operational tasks across client onboarding, account servicing, and platform workflows.
• Advisor Experience Program Holistic advisor experience program combining onboarding, ongoing service, recognition tiers such as Director's Circle, and the firm's 28 Core Fundamentals cultural framework to support independent advisors throughout their tenure.
• Research Your Way (Research Platform) An institutional-grade research platform available to Prospera advisors, providing investment research, manager due diligence, and portfolio construction support to underpin their client portfolios.
• Wealth Management and Financial Planning Services The wealth management, financial planning, and advisory services delivered by independent Prospera advisors to their retail and ultra-high-net-worth clients, including portfolio management, financial planning, and asset-based advisory solutions.

Quantifiable outcome

• 2.4:1 advisor-to-staff ratio enabling personalized support
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered supporting and core.

• The Pinnacle GroupsupportingStrategic or Co-development Partner · 14 April 2026Partner organization participating in Prospera Generational Wealth Forum, providing education on business valuation strategies for ultra-high-net-worth clients.
• Marshall & StevenssupportingStrategic or Co-development Partner · 14 April 2026Partner organization participating in Prospera Generational Wealth Forum, providing expertise in estate planning and wealth transfer strategies.
• The Wealth Advisors Trust CompanysupportingStrategic or Co-development Partner · 14 April 2026Partner organization participating in Prospera Generational Wealth Forum, contributing to family office service capabilities.
• American Endowment FoundationsupportingStrategic or Co-development Partner · 14 April 2026Partner organization participating in Prospera Generational Wealth Forum, providing education on donor-advised funds (DAFs) for charitable giving strategies.
• Pacific LifesupportingStrategic or Co-development Partner · 14 April 2026Partner organization participating in Prospera Generational Wealth Forum, providing expertise in alternative investments.
• First Clearing (Wells Fargo Clearing Services, LLC)coreTechnology or IntegrationPrimary clearing relationship providing outstanding service, access to industry expertise, competitive lending and banking products, and support for all products and services. First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
• RBC Clearing & CustodycoreTechnology or IntegrationSecondary clearing partner providing outstanding service, access to industry expertise, competitive lending and banking products, and support for all products and services.

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Raymond James Financial Services: Independent contractor channel of Raymond James supporting independent financial advisors with broker-dealer and RIA services. Comparable platform model though backed by a much larger parent, providing a benchmark for what scaled IBD services look like.
• Osaic (formerly Advisor Group): Large IBD platform formed through consolidation of multiple broker-dealer brands, serving independent advisors. A broader-incumbent competitor with similar multi-brand IBD structure and significantly larger scale than Prospera.
• LPL Financial: Largest independent broker-dealer in the U.S. with ~$1.5T AUM, offering scale-driven technology, product shelf, and transition services. The dominant IBD competitor from which Prospera recruits advisors and against which it competes for breakaway talent.
• Wells Fargo Advisors (Financial Network): Independent advisor channel of Wells Fargo Advisors serving independent financial advisors. Provides benchmark for wirehouse-affiliated independent channel against which Prospera competes for breakaway advisors.

Direct peers

• Commonwealth Financial Network: Independent broker-dealer and RIA serving independent advisors with a boutique service model very similar to Prospera. Closest comparable in positioning, scale tier, and advisor-centric culture.
• Cambridge Investment Research: Large independent broker-dealer supporting independent financial advisors with a wide product shelf and advisor-transition services. Operates in the same IBD/RIA platform category as Prospera with comparable recruiting and M&A activity.
• Cetera Financial Group: Independent broker-dealer and RIA platform serving independent advisors through multiple brand channels. Directly comparable business model focused on advisor independence, transition support, and wealth management technology.
• Kestra Financial: Independent broker-dealer platform built via roll-up acquisitions, supporting independent advisors with practice management, technology, and back-office services. Comparable IBD platform with similar advisor-recruiting and M&A growth approach.
• Hilltop Securities: Mid-sized independent broker-dealer and registered investment advisor providing wealth management and transition support to independent advisors. Directly comparable boutique IBD platform competing for similar advisor segment.
• First Allied Securities: Independent broker-dealer and RIA platform providing transition, technology, and back-office services to independent financial advisors. Closely comparable boutique IBD model serving similar advisor profile and AUM scale tier.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ProsperaFinSvcs
• Facebookfacebook.com/pages/Prospera-Financial-Services/135234557358
• LinkedInlinkedin.com/company/prospera-financial

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prospera Financial Services