Prospera Financial Services, inc.

Prospera Financial Services, Inc. is an enterprise‑scale adviser and dually registered broker‑dealer that serves a broad mix of individuals (including high‑net‑worth clients), corporate and charitable entities, and retirement plans, managing roughly $12.4 billion through about 207 advisors across approximately 140 offices. The firm offers investment advisory and financial planning services across multiple delivery vehicles, including firm‑sponsored wrap and allocation programs, third‑party model and SMA/UMA platforms, and advisor‑managed models.

Prospera’s representatives construct and implement portfolios using a combination of firm models, third‑party sub‑advisers, and customizable allocations; accounts may be managed on a discretionary or non‑discretionary basis with ongoing monitoring and periodic rebalancing. Clients may receive advice and implementation through various sponsored platforms (Summit, Schwab, Envestnet, SEI, AssetMark, Wells Fargo, RBC), and the firm describes a process that includes screening, evaluation, portfolio construction and ongoing oversight.

Distinctive features disclosed in the brochure include Prospera’s dual adviser/broker‑dealer status and the fact that many of its investment advisor representatives are also licensed to sell securities and insurance, so they may receive transaction‑based commissions, 12b‑1 trails, and insurance commissions in addition to asset‑based advisory fees. The firm has previously advertised predecessor performance and disclosed an SEC consent order (relating to AlphaSector predecessor performance) and a $100,000 penalty; it also relies heavily on clearing‑custodian relationships and cash‑sweep and revenue‑sharing arrangements (notably with WFCS and RBC), which the brochure identifies as potential conflicts of interest.