The APEX program combines buying and selling advisors to ensure a smooth business transition and a better customer experience
DALLAS, April 27, 2022 /PRNewswire/ — Prospera Financial Services, Inc. (“Prospera”), a wealth management firm that supports a national network of independent advisors, today announced the launch of its exclusive advisor practice exchange program (“APEX”), an interactive process and resource designed to assist Prospera advisors who wish to grow their business by acquiring another firm or creating succession plans through a sale.
The APEX program includes a dedicated consultant to help advisors navigate buying or selling a practice, curated tools including acquisition and succession guides, white papers, recorded webinars, resources for contracting and helpful market and economic updates.
“We developed APEX to enable our advisors looking to buy or sell a practice, or find a potential successor, to do so within the Prospera family,” said Tim Edwards, co-CEO and managing partner of Prospera. “By providing advisors with access to internal experts and resources, we are facilitating what can be a complex and emotionally draining undertaking for everyone involved. An internal transition creates an improved experience for the end client, resulting in better retention and increased business value. Keeping the assets here at Prospera also allows us to continue to invest in the support and services our advisors expect and deserve.”
The APEX matching process
Advisors begin the matching process by completing a confidential APEX questionnaire. An APEX consultant will meet with the interested advisor to create custom criteria to match that advisor for a buy or sell. A permanent home office committee then reviews the information and begins to search for the best possible match. The APEX consultant will then make confidential presentations and, if there is mutual interest, the consultant will guide the advisors through the process, from contract to transition.
Through APEX, advisors can take advantage of Prospera’s relationship with experts who can help with practice valuation, deal terms, legal issues and financing.
Hilary PlumerManaging Director, Advisor Services, added, “APEX is Prospera’s latest value-added service to its advisors, and it’s extremely timely. Studies have shown that at least a third of advisors plan to retire within the next 10 years. At the same time, less than 10% of advisors have taken the time to put an actionable succession plan in place. We created APEX to help older advisors monetize what they’ve spent a lifetime building while helping growth-focused advisors find the right partner. . Facilitating internal acquisitions and successions is in the best interests of buyers, sellers, clients and our firm.”
About Prospera Financial Services
Founded in 1982, Prospera Financial Services, Member FINRA, SIPC and a Registered Investment Advisor, offers the flexibility and resources found only with some of the largest brokerages in the country. Based at Dallas, TXProspera has been named Broker-Dealer of the Year by Investment Advisor Magazine in 2009, 2010, 2012, 2014, 2015, 2018 and 2019. Prospera is 3 times winner and 5 times finalist for WealthManagement.com Industry awards as well as a ThinkAdvisor lights winner of its inaugural year. The company supports independent financial advisors nationwide. For more information about Prospera, visit www.joinprospera.com.
Michael Dugan or Joseph Kuo
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SOURCE Prospera Financial Services