Prosperity Capital Advisors, an RIA based in Cleveland that provides financial planning and asset management solutions to investment advisors, has named Douglas S. King president and CEO, Prosperity Capital Advisors announced Monday.

King, previously president and CEO of Cetera Advisor Networks, will also head Prosperity’s sister company, Clarity 2 Prosperity Advisory Group, an insurance marketing organization offering insurance products and services to advisors.

During King's five years at Cetera Advisors Network, the firm grew into one of the largest independent broker-dealers in the U.S.

The two Prosperity companies advise on more than $1 billion in client assets.

In other moves by Prosperity, Jason Smith was made head of an advisor training program that was launched in March. As part of the reorganization of the two firms, David Alison, a founding partner of Prosperity Capital, has been promoted to executive vice president of the newly formed Clarity to Prosperity Enterprises holding company.

“When I met with the executives at Prosperity Capital Advisors and Clarity 2 Prosperity, I was inspired by their pursuit of holistic financial planning and [their desire to] provide their affiliated advisors access to all the tools, training and planning strategies necessary to create a comprehensive financial planning experience for their clients," King said. "I believe this integrated approach to planning, when performed in a client’s best interest, is certainly the future trajectory of the industry.”