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The close alignment in culture and operations, along with Prospera’s improved compliance and technology platform, will allow Cutter’s advisors and team to better serve their clients.
The expansion won’t change Prospera’s leading staff-to-advisor ratio.
DALLAS, April 8, 2025 — Prospera Financial Services, Inc., an independent broker-dealer based in Dallas, has announced its acquisition of Cutter & Company, an independent broker-dealer located in St. Louis, Missouri. Cutter & Company manages approximately $2 billion in client assets and includes 40 advisors and 12 employees.
Deborah Castiglioni, CEO of Cutter & Company, William Meyer, President, and the entire staff will remain with the company. Castiglioni will hold a leadership position to ensure a seamless transition of the Cutter staff into Prospera’s back office, and Meyer will continue advising his clients.
“Smaller, specialized broker-dealers offer important services to their advisors and will remain a key part of the wealth management industry,” said Tim Edwards, Chairman and Co-CEO of Prospera. “The Cutter team values personal connections between staff and advisors and understands how these relationships help advisors build strong, independent businesses. We are thrilled to welcome Debbie, Bill, and their team to the Prospera family.”
This deal was formed through long-standing relationships between the two firms and a shared respect for each other’s business practices and approach to advisor service. Ultimately, the chance to improve operations, compliance, and technology led Cutter & Company to pursue this acquisition.
Castiglioni stated, “When searching for the right partner to support our next stage of growth, Prospera was the obvious choice. Our similar values of client service and advisor-focused decision-making create strong cultural synergies and excellent opportunities for future growth. By joining Prospera, our team can better focus on our advisors’ needs by giving them better technology and tools to help grow their businesses.”
The acquisition was finalized on March 31, and the terms have not been revealed.
Edwards concluded, “I’m excited that we have this opportunity to build a stronger firm together. Bill, the rest of Cutter & Company’s leadership, their employees, and advisors are a great fit for our firm.”
About Prospera Financial Services
Prospera Financial Services was founded in 1982. It is a member of FINRA/SIPC and a registered investment advisory, providing the flexibility and resources typically found only at the largest broker-dealers. Based in Dallas, TX, Prospera was recognized as Broker-Dealer of the Year by Investment Advisor Magazine in 2009, 2010, 2012, 2014, 2015, 2018, and 2019. The firm supports Independent Financial Advisors across the country. More information about Prospera can be found at .
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