Prospera Financial Services Inc.

Prospera Financial Services Inc.

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5429 LBJ Freeway, Suite 750

Dallas, TX 75240

(972) 581-3000

www.prosperafinancial.com

Clearing firm: First Clearing LLC, Pershing LLC

No. advisers: 129

AUM: $8,700,000,000

Year founded: 1982

Year end: June 30

No. of retail offices: 83

For More Information

CEODavid W. Stringer
Recruiting ContactTim Edwards
(972) 581-3007
E-mail
Compliance ContactAbel Garcia
(972) 581-3020
E-mail
Marketing ContactTarah M. Williams
(972) 581-3015
E-mail
Technology Operations ContactJohn West
(972) 581-3045
E-mail

Recruitment & Staffing

2019 2018 2017
No. of reps129127135
No. of reps, male114110118
No. of reps, female151717
No. of producing reps129127135
No. of producing reps, male114110118
No. of producing reps, female151717
No. of reps producing $100K-$499K /year737872
No. of reps producing $500K+ /year402934
No. of CFPs131113
No. of full-time employees615953
No. of fee-based advisers served129127135
Average payout per rep, per year$476,074$458,225$460,000
Avg. annual production of top 20% reps$1,088,272$1,066,446$997,480
Total payout, per year000
Cost of E&O insurance per rep, per year358835883588
Affiliation fees charged per rep, per year180018001800
Affiliation fee coveragetraining and continuing education, compliance approved email, network security tools, access to the firm's intranet, commission reporting, annual conference content, compliance audits, required mailingstraining and continuing education, compliance approved email, network security tools, access to the firm's intranet, commission reporting, annual conference content, compliance audits, required mailingstraining and continuing education, compliance approved email, network security tools, access to the firm's intranet, commission reporting, annual conference content, compliance audits, required mailings
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 86%-90% 86%-90% 86%-90% 91%-95% 92%-99%
Insurance 86%-90% 86%-90% 86%-90% 90%-92% 92%-99%
Variable annuities 86%-90% 86%-90% 86%-90% 90%-92% 92%-99%
Limited parterships 86%-90% 86%-90% 86%-90% 90%-92% 92%-99%
Securities 86%-90% 86%-90% 86%-90% 90%-92% 92%-99%
Required minimum production$300,000
2019 2018 2017
Total revenues$57,580,023$54,156,438$50,793,307
Commission revenues$22,644,880$23,988,270$25,640,223
Securities revenues$7,244,016$9,383,293$11,552,103
Securities revenues: Stocks$2,544,708$2,880,010$3,801,890
Securities revenues: Bonds$2,706,417$4,791,681$5,820,646
Securities revenues: ETFs
Securities revenues: Other$1,992,891$1,711,602$1,929,567
Mutual fund revenues$6,191,104$6,835,337$6,144,380
Annuities revenues$8,199,692$7,002,315$6,777,315
Annuities revenues: Fixed$17,346$134,628
Annuities revenues: Variable$8,182,346$6,867,687$6,777,315
Annuities revenues: Other
Insurance revenue$449,050$256,691$53,396
Insurance revenues: Life$302,873$229,482$53,396
Insurance revenues: Disabilities
Insurance revenues: LTC
Insurance revenues: Other$146,176$27,209
Alternative revenues$416,060$294,419$747,753
Alternative revenues: Hedge funds
Alternative revenues: Managed futures$105,130$10,899$20,184
Alternative revenues: Private placements
Alternative revenues: REITs$250,880$109,120$699,054
Alternative revenues: Other$60,050$174,400$28,515
Other commission revenues$144,959$216,215$365,276
Fee revenues$30,718,720$26,514,253$20,924,412
Fee revenues: Rep-managed accounts$30,625,336$25,348,661$19,695,021
Fee revenues: Firm-managed accounts
Fee revenues: Outside-managed accounts
Fee revenues: Other$93,384$1,165,592$1,229,391
Total revenues: Other$4,216,423$3,653,915$4,228,672
2019 2018 2017
Total account assets$8,700,000,000$7,700,000,000$7,056,448,234
Fee-based assets$2,700,000,000$2,500,000,000$1,995,571,003
Fee-based assets: Clearing firm$2,700,000,000$2,500,000,000$1,935,297,766
Fee-based assets: Advisory firm platforms
Fee-based assets: Third-party money managers$60,273,237
Fee-based assets: Other
Total account assets: Other$6,000,000,000$5,200,000,000$5,060,877,231
Average assets per rep$67,441,860$60,629,921$52,269,987
Social Media & Mobile
Allows advisers to use social mediaY
Social media sites allowedFacebook
LinkedIn
Twitter
Dedicated mobile application for advisers?Y
Primary purpose of mobile applicationProcess direct business, CRM system, data aggregation, etc.
Software Offered
Account aggregation software eMoney 360 (eMoney Advisor)
Envestnet
Built in house/Proprietary
Compliance software Built in house/Proprietary
CRM Salesforce CRM (Salesforce.com)
Document management LaserApp (LaserApp Software Inc.)
Salesforce files
Financial planning eMoney360 (eMoney Advisor)
MoneyGuidePro (PIEtech Inc.)
Thomson One Wealth Management (Thomson Reuters)
Portfolio management First Clearing Platform
Portfolio rebalancing First Clearing UWP
Robo-advice
Offers robo-advisory platform?N
If not, when plans to offer a robo-platform1-2 years
Robo-advice services offered
How robo-platform developed
Charge for robo-advisory services?
    Notes
  • N/A = Not available
  • N/D = Not disclosed
  • — = Information not available or not disclosed

All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.

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