Broker-dealer Prospera Financial Services is expanding its advisor succession program, the Dallas-based firm announced today.
Prospera, a boutique wealth management firm that supports a nationwide network of independent advisors, is offering three ways for advisors to exit the industry or acquire a firm through its “Succession Your Way” program.
The programs include the following:
• Under the Associate Advisor option, Prospera provides customized support to advisors who have sourced and are developing an associate advisor who the firm is grooming to become a successor.
• Under the Advisor Practice Exchange Program, Prospera provides a guided process for practice transitions led by a Prospera home office team.
• Under the Prospera Wealth Advisors plan, Prospera purchases the book of business to be managed by an in-house Prospera wealth advisor.
“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,” Prospera said in the announcement.
“At Prospera, our advisors have always enjoyed the freedom to build their businesses how they see fit. Our expansion of three ‘Succession Your Way’ offerings are a natural extension of that flexibility applied to exiting the business,” Tarah Williams, Prospera's president and chief operating officer, said in a statement. “Just as advisors measure success differently, they will be able to approach succession planning on their terms.”
Prospera’s in-house succession experts will guide financial advisors through the entire transition, Prospera said. Prospera said it will also connect advisors with valuation services, lenders and attorneys.