Close Cultural and Operational Alignment, Enhanced Compliance and Technology Platform of Prospera Enable Cutter Advisors and Team to Focus on Clients
Enlarged Footprint Will Not Impact Prospera's Industry Leading Staff-to-Advisor Ratio
DALLAS, April 8, 2025 -- Dallas-based independent broker-dealer Prospera Financial Services, Inc. announced it has acquired St. Louis, Missouri-based Cutter & Company, an independent broker-dealer with approximately $2 billion in total client assets, 40 advisors and 12 employees.
Cutter & Company CEO Deborah Castiglioni, President William Meyer and the entire staff will remain with the company. Castiglioni will serve in a leadership position, ensuring the smooth transition of the Cutter staff to Prospera's back office, and Meyer will continue to serve his book of clients as an advisor.
"Smaller, boutique broker-dealers provide meaningful service to their advisors and will continue to be a valuable asset to the wealth management industry," said Prospera Chairman and Co-CEO Tim Edwards. "The Cutter team understands the importance of personal connections between staff and advisors, and how these relationships enhance the advisor's ability to build a strong, independent business. We are excited to welcome Debbie, Bill and the entire team to the Prospera family."
This transaction was built upon years-long relationships across both firms, and mutual respect for the other's approach to the business and culture of advisor service. Ultimately, the ability to streamline operations, compliance and technology drove Cutter & Company to consider this path.
Castiglioni added, "As we looked for the right partner to support our next phase of growth, Prospera was the clear choice. Our shared values of client service and advisor-centric decision-making provide clear cultural synergies with excellent opportunities for future growth. Working with Prospera will enable our team to focus on our advisors' needs, providing them with enhanced technology and tools to grow their businesses."
The acquisition closed on March 31, and the terms were not disclosed.
Edwards concluded, "I'm excited we've had the opportunity to build a stronger firm together. Together with Bill, the leadership of Cutter & Company, their employees and advisors are a perfect fit within our firm."
About Prospera Financial Services
Founded in 1982, Prospera Financial Services, member FINRA/SIPC and a registered investment advisory, offers the flexibility and resources only found at some of the nation's largest broker-dealers. Headquartered in Dallas, TX, Prospera was named Broker-Dealer of the Year by Investment Advisor Magazine in 2009, 2010, 2012, 2014, 2015, 2018, and 2019. The firm supports Independent Financial Advisors nationwide. For more information about Prospera visit http://www.joinprospera.com/.
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