Clients
Prospera Financial Services serves 18,584 clients, 7,796 of them high-net-worth individuals. The average client has about $774,000 with the firm, and high-net-worth clients hold 59% of its $14.4 billion in assets.
- Individuals10,082 clients26%
- High-net-worth individuals7,796 clients59%
- Pension and profit-sharing plans389 clients10%
- Corporations and other businesses188 clients4%
- OtherPooled investment vehicles, Charitable organizations2%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 10,082 | $3,703,764,988 | 25.7% | $367K |
| High-net-worth individuals | 7,796 | $8,487,563,006 | 59.0% | $1.09M |
| Pooled investment vehicles | 3 | $38,500,794 | 0.3% | $12.8M |
| Pension and profit-sharing plans | 389 | $1,411,089,490 | 9.8% | $3.63M |
| Charitable organizations | 126 | $184,513,605 | 1.3% | $1.46M |
| Corporations and other businesses | 188 | $562,108,162 | 3.9% | $2.99M |
| Total | 18,584 | $14,387,540,045 | 100% | $774K |
- Clients
- 10,082
- Regulatory AUM
- $3,703,764,988
- Share
- 25.7%
- Avg. per client
- $367K
- Clients
- 7,796
- Regulatory AUM
- $8,487,563,006
- Share
- 59.0%
- Avg. per client
- $1.09M
- Clients
- 3
- Regulatory AUM
- $38,500,794
- Share
- 0.3%
- Avg. per client
- $12.8M
- Clients
- 389
- Regulatory AUM
- $1,411,089,490
- Share
- 9.8%
- Avg. per client
- $3.63M
- Clients
- 126
- Regulatory AUM
- $184,513,605
- Share
- 1.3%
- Avg. per client
- $1.46M
- Clients
- 188
- Regulatory AUM
- $562,108,162
- Share
- 3.9%
- Avg. per client
- $2.99M
Total
- Clients
- 18,584
- Regulatory AUM
- $14,387,540,045
- Share
- 100%
- Avg. per client
- $774K
What it does
Prospera Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers. It is paid through a percentage of assets, hourly charges, fixed fees, commissions, performance-based fees and other arrangements.
Prospera Financial Services provided financial planning to 26–50 clients last fiscal year and advises no private funds.
68.0% of assets ($9.79B across 22,149 accounts) are managed with discretion; $4.60B across 9,305 accounts are not. $13.24B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 38 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks86%
- Funds8%
- Bonds5%
- State and local bonds3%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
- Cash1%
Custodians
Prospera Financial Services’ client accounts are held mainly at Wells Fargo Clearing Services, with 10% of managed assets. Prospera Financial Services has custody of client assets.
- Wells Fargo Clearing ServicesWells Fargo Clearing Services, LLC · ST Louis, MO · $1.41B10%
- All other custodians$12.97B90%
Ownership and leadership
Prospera Financial, LLC owns 75% or more of Prospera Financial Services.
- Owns 75% or more of Prospera Financial Services, Inc.
Prospera Financial, LLC
Control person · since July 2021
- Owns 25% to 50% of Prospera Financial, LLC
Richard Dean Pascuzzi
Control person · since July 2021
- Owns 25% to 50% of Prospera Financial, LLC
Tim Alan Edwards
Control person · since July 2021
- Owns 25% to 50% of Prospera Financial, LLC
David Walter Stringer
Control person · since July 2021
Leadership
- Richard Dean PascuzziExecutive Vice President, Secretary
- Tarah Elizabeth WilliamsPresident, Chief Operating Officer
- Edward KernChief Financial Officer
- Shawn BaxterChief Compliance Officer
- Tim Alan EdwardsCo-CEO
- David Walter StringerCo-CEO
Staff
- 326 employees
- 211 in advisory functions
- 275 state-registered reps
- 219 broker-dealer reps
- 213 insurance agents
- 5 soliciting firms
Reported holdings
Prospera Financial Services’ reported 13F holdings total $6.89B across 1,468 positions, and the ten largest make up 18.1% of it.
- $6.89B
- Reported 13F value
- 1,468
- Positions
- 18.1%
- In the 10 largest
- +10.9%
- Value vs. prior quarter
- Apple Inc.3.5%
- Nvidia Corporation3.4%
- Microsoft Corp.1.6%
- Amazon Com Inc.1.6%
- Caterpillar Inc.1.5%
- Alphabet Inc. · Cap Stk CL A1.4%
- Invesco Qqq TR · Unit Ser 11.4%
- First TR Exchange Traded FD · Risng Divd Achiv1.3%
- Alphabet Inc. · Cap Stk CL C1.2%
- Broadcom Inc.1.1%
Together, the ten largest are 18.1% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $6.89B is not its $14.39B in regulatory assets and does not represent any individual client's portfolio.
Fees
Prospera Financial Services is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees), commissions, performance-based fees and other.
Prospera Financial Services’ fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Prospera Financial Services has 149 offices, with 26 listed addresses across 13 states.
Texas · 6 listed addresses
- 5429 LBJ Freeway, Suite 750, DallasHQ
- 5956 Sherry Lane, Dallas
- 2842 Stewart Way, Tyler
- 1845 Precinct Line Road, Hurst
- 5429 LBJ Freeway, Dallas
- 7110 Pecan Street, Frisco
Louisiana · 4 listed addresses
- 312 Doucet Road, Lafayette
- 2121 Airline Drive, Metairie
- 1245 West Causeway BLVD, Mandeville
- 1042 Camellia BLVD, Lafayette
Missouri · 3 listed addresses
- 15415 Clayton Road, Ballwin
- 311 East Elm, O'Fallon
- 4600 Mexico Road, ST. Peters
Ohio · 2 listed addresses
- 250 W Court Street, Cincinnati
- 6450 Poe Avenue, Dayton
Tennessee · 2 listed addresses
- 5100 Poplar Ave, Memphis
- 1111 N Northshore DR, Knoxville
Virginia · 2 listed addresses
- 10146 West Broad ST, Glen Allen
- 711 W 21st Street, Norfolk
California · 1 listed address
- 1200 California Street, Redlands
Michigan · 1 listed address
- 12 South Main Street, Clarkston
Nevada · 1 listed address
- 120 Country Club, Incline Village
New York · 1 listed address
- 1185 Ave of the Americas 3rd Floor, New York
North Carolina · 1 listed address
- 4700 Falls of Neuse RD, Raleigh
Oregon · 1 listed address
- 1005 SW Disk Drive, Bend
Pennsylvania · 1 listed address
- 3401 N Front Street, Harrisburg
Other business names
Prospera Financial Services has reported 1 other business name to the SEC.
- Prospera Wealth Advisors
Registration details
- Legal name
- Prospera Financial Services, Inc.
- Headquarters
- 5429 LBJ Freeway, Suite 750, Dallas, TX 75240
- Phone
- 972-581-3000
- Website
- www.prosperafinancial.com
- SEC file
- 801-65845
- Structure
- Texas corporation
- Fiscal year end
- June
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Prospera Financial Services have?
Prospera Financial Services has 18,584 clients and manages $14.4 billion for them, as of September 2026. They include 10,082 other individuals, 7,796 high-net-worth individuals and 389 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 September 2026
What services does Prospera Financial Services offer?
Prospera Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Prospera Financial Services use?
Prospera Financial Services’ separately managed account assets are held at Wells Fargo Clearing Services, LLC (ST Louis, MO), with $1,414,688,650. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 September 2026
How many financial advisors does Prospera Financial Services have?
Prospera Financial Services has 275 investment adviser representatives registered with state securities authorities, out of 326 employees, and 211 perform investment advisory functions. 219 are registered representatives of a broker-dealer and 213 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Prospera Financial Services invest in?
At the end of its last fiscal year, Prospera Financial Services’ separately managed accounts held 86% exchange-traded equities, 8% registered funds (mutual funds, ETFs, BDCs), 3% state and local bonds, 1% U.S. government and agency bonds, 1% investment grade corporate bonds and 1% cash and equivalents. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Prospera Financial Services?
Prospera Financial Services is owned through a holding company by Richard Dean Pascuzzi, Tim Alan Edwards and David Walter Stringer. Its direct owner is Prospera Financial, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 September 2026
How does Prospera Financial Services get paid?
Prospera Financial Services is paid through a percentage of assets under management, hourly charges, fixed fees, commissions, performance-based fees and other arrangements.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file