Prospera Financial Services Expands with Acquisition of Cutter & Company in St. Louis

Prospera Financial Services Acquires Cutter & Company

In a strategic move aimed at bolstering its service delivery, Prospera Financial Services, headquartered in Dallas, Texas, has officially acquired Cutter & Company, an independent broker-dealer located in St. Louis, Missouri. This acquisition, which closed on March 31, 2025, will enhance Prospera's capabilities and expand its influence in the wealth management sector. With approximately $2 billion in client assets, Cutter & Company adds a robust portfolio to Prospera, enriching their client base and operational reach.

Strengthening Advisor Support

The leadership of Cutter & Company, including CEO Deborah Castiglioni and President William Meyer, will remain onboard as they transition under the Prospera brand. Their continued presence ensures that existing clients will receive uninterrupted support and service. Castiglioni will assume a pivotal leadership role, guiding the integration of Cutter's workforce into Prospera's existing operations, while Meyer will maintain his role as a trusted advisor to his clients.

Tim Edwards, Chairman and Co-CEO of Prospera, expressed his enthusiasm for the acquisition, emphasizing the significant role of boutique broker-dealers like Cutter in supporting advisors who provide personalized services. He stated, "The Cutter team understands the importance of personal connections between staff and advisors, enhancing the advisors' ability to develop successful independent businesses. We are excited to welcome Debbie, Bill, and their entire team to the Prospera family."

Cultural and Operational Synergy

The acquisition is not merely about expansion; it reflects years of relationship-building and shared values between the two firms. Both entities maintain a commitment to enhancing the advisor experience through personal relationships and tailored services. Castiglioni highlighted how Prospera's operational efficiencies, compliance frameworks, and advanced technology platforms will allow the Cutter team to focus more on their advisors' needs. This enhancement is critical as the financial landscape evolves, necessitating robust support for independent advisors to thrive.

"As we searched for a partner to support our growth, Prospera emerged as the clear choice. Our values around client service and advisor-centric decision-making align perfectly, creating synergies that promise exciting opportunities for future growth," Castiglioni stated.

Looking Ahead

The financial services industry is undergoing a transformative shift, emphasizing more collaborative and personalized approaches to client engagement. The merger of Prospera and Cutter not only reflects this shift but positions both firms strategically to capitalize on emerging trends within the sector. As clients seek more tailored services and independent financial direction, firms like Prospera that prioritize the advisor-client relationship are poised for success.

Ultimately, the merger symbolizes a strengthening of the financial advisory landscape, emphasizing the importance of personal connections, operational efficiency, and advanced tools for growth. As Prospera integrates Cutter & Company into its fold, advisors and their clients can expect a future marked by enhanced services and a commitment to excellence in wealth management.

For more information about Prospera Financial Services and its offerings, visit joinprospera.com.

About Prospera Financial Services

Founded in 1982, Prospera Financial Services is a member of FINRA/SIPC and a registered investment advisory firm. With a recognized history of supporting independent financial advisors across the country, Prospera combines the resources of a large broker-dealer with the flexibility and personal approach of a boutique firm. The company has been recognized multiple times as Broker-Dealer of the Year by Investment Advisor Magazine, underscoring its impact in the financial advisory space.