Prospera Expands National Footprint With Three Recruits

James Miller, Contributing Editor & Research Analyst, Wealth Solutions Report

Prospera Onboards Advisors In Massachusetts, Florida, Colorado And Arizona Totaling $539 Million In Assets

Dallas-based broker-dealer Prospera Financial Services announced the recruitment of three firms across four states with a total of $539 million in assets under management (AUM): G4 Wealth Management of Paradise Valley, Arizona, with $320 million in AUM; East Coast Capital Management, based in Boston and Fort Lauderdale, Florida, with $130 million in AUM; and Paraclete Wealth Consultants of Lamar, Colorado, with $89 million in AUM.

Tarah Williams, President & COO, Prospera Financial Services

Tarah Williams, President and COO of Prospera, said, “Over the past several months, we have seen significant consolidation among mega firms in our industry, leaving many advisors asking if there is a different path to build their businesses. We strive to provide our advisors with personalized services and support so they can grow their practice their own way.”

Led by President and Senior Financial Advisor Matthew Gaspar, G4 specializes in comprehensive financial, tax, retirement, income and philanthropic planning for families, executives and owners of small- to medium-sized businesses. The firm also provides education, risk analysis, trust and estate services, and portfolio management.

Matthew Gaspar, President & Senior Financial Advisor, G4 Wealth Management

East Coast’s Managing Director, Michael Trethewey, with over 26 years of experience, focuses on financial and retirement planning for families and individuals including entrepreneurs, business owners and corporate executives.

Faith-based Paraclete, led by Michael Beard, Founder and Chief Wealth Advisor, with support from Client Services Specialists Brittany and Tami Beard, serves business owners, farmers and ranchers in or near retirement with over $1 million in net worth.

Michael Trethewey, Managing Director, East Coast Capital Management

Williams continued, “The addition of G4 Wealth Management, East Coast Capital Management and Paraclete Wealth Consultants serves as a meaningful proof point that our value proposition is resonating with growth-minded advisors across the country, and we welcome these teams to the Prospera family.”

Michael Beard, Founder & Chief Wealth Advisor, Paraclete Wealth Consultants

According to a spokesperson for Prospera, the newly recruited firms emphasize its advisor support and advisor to home office staff ratio, which it maintains at 2.4:1, as important to their decision to affiliate.

In April, Prospera recruited Southwest Florida-based Howell Wealth Advisors. The firm increased its revenue by 113% over the past five years. Prior to today’s announcement, Prospera supported 163 advisors in 94 locations nationally with $16 billion in AUM.

James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.

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