Prospera Adds $650 Million Advisor Team

Redlands, California-Based Painter, Smith & Amberg Specializes In Wealth Management Services.
Tarah Williams, President & COO, Prospera Financial Services; Charles Painter, President, Painter, Smith & Amberg
Tarah Williams, President & COO, Prospera Financial Services; Charles Painter, President, Painter, Smith & Amberg

Dallas-based broker-dealer Prospera Financial Services said today that Painter, Smith & Amberg, a firm with $650 million in assets under management (AUM) located in Redlands, California, has joined its network.

Advisors Charles Painter, David Smith, Jeffrey Amberg and Kallie Rawson of Painter, Smith & Amberg have joined Prospera as part of the deal. The four advisors have 100 combined years of experience, and specialize in wealth management, 401(k) services and investment-related opportunities, Prospera said.

Painter, Smith & Amberg was started in 1982 and offers the kind of sophisticated investment services that were once only available at large firms or wirehouses, according to Prospera. But Painter, Smith & Amberg also provides clients with the personal touch and accountability of a typical independent practice, Prospera said.

“Prospera’s commitment to a family-like culture, strong leadership, and emphasis on integrity perfectly aligns with our values,” according to Charles Painter, President of Painter, Smith & Amberg. “We look forward to leveraging Prospera’s resources to enhance the quality of service for our clients,” he said in a statement.

“The dedication to personalized service that Charles, David, Jeffrey and Kallie bring to every client relationship has placed Painter, Smith & Amberg, Inc. among the best in the business,” according to Tarah Williams, President and Chief Operating Officer of Prospera Financial Services.

“We share similar core values and are pleased they chose Prospera the help them continue to foster their growth and success for years to come,” Williams said.

Prospera has 168 advisors at 94 locations who manage $16 billion in AUM, according to the company’s website.

The firm recently expanded its Succession Your Way services for advisors that helps them navigate the process of selling or acquiring a practice.

In the back half of 2023, Prospera also recruited three firms across four states with a total of $539 million in 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.

Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.

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