DALLAS, December 13, 2021 /PRNewswire/ — Prospera Financial Services, Inc. (“Prospera” or “the Company”), a specialty wealth management firm supporting a national network of independent advisors, today announced the acquisition of Dorsey & Company, Inc., a New Orleanscompany based around $1.4 billion in assets under management. The company will retain the Dorsey and Company brand and operate as Prospera OSJ.

The move underscores Prospera’s impressive growth trajectory over the past few years and signals its interest in making future acquisitions, just as many similar-sized peers have been sold to larger companies during the ongoing wave of consolidation. of the sector. Excluding this transaction, Prospera has nearly 150 financial advisors across the country, with approximately $14.6 billion in assets under management.

Tim Edwards, Co-CEO and Managing Partner of Prospera, said, “We are delighted to team up with Dorsey & Company, whose boutique approach to service and shared culture make them an ideal partner for us going forward. At a time when many companies of our size have been absorbed by larger industry players, Prospera is proud to have been able to buck the tide by becoming active acquirers and continuing to grow. We look forward to maintaining our record of service-focused growth and success.

Dorsey & Company was founded in 1959 by George Dorsey, who later handed over the reins to his son, Philip. Building a reputation for building close and trusting relationships with its clients, the firm has benefited over the years from the steady and guiding hands of the family.

Raymond A.Thompson took over as President and CEO of the company following the death of Philip in 2019. Mr. Thompson will continue in a leadership role and become a branch manager of OSJ.

Together, the firms offer clients and advisors a number of complementary skills. Dorsey & Company has proven expertise in fixed income, while Prospera’s services compare favorably to offerings from many leading companies in the industry, including:

• Expertise in practice management
• Comprehensive succession planning assistance
• Marketing strategy and execution support
• Search for the best analysts
• Industry-leading insurance solutions platform

Mr. Thompson said, “We are delighted to join the Prospera family. I have developed a strong relationship with the members of his management team over the years, and I am deeply confident that they will only build on our long history of high quality delivery. – quality, personalized and conflict-free strategies for our clients. Our advisors are eager to have access to expanded resources and expertise that will enhance Dorsey & Company’s already world-class service and help them grow their business.

Mr. Edwards continued, “I am delighted to welcome Ray and the rest of the Dorsey & Company team to Prospera. The firm is a perfect complement to ours, further enhancing Prospera’s distinctive value proposition and vision, which enables advisors to define their brand. , chart their own success story, and ultimately thrive. As we continue to grow the business and welcome new financial advisors through hires and acquisitions, we will not stray from what made us so special so far – an agile, responsive and personalized service approach that drives the success of the advisors we serve.”

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, TX, Prospera was named Broker-Dealer of the Year by Investment Advisor Magazine in 2009, 2010, 2012, 2014, 2015, 2018, and 2019. Prospera is a three-time winner and five-time runner-up in WealthManagement.com’s Industry Awards as well as a winner of the ThinkAdvisor Luminaries award in its first year. The company supports independent financial advisors nationwide. For more information about Prospera, visit www.joinprospera.com.

Media Contacts

Michael Dugan or Joseph Kuo

Haven Tour Group LLC

424 317 4852 or 424 317 4851

[email protected] or [email protected]

View original content: https://www.prnewswire.com/news-releases/prospera-financial-services-accelerates-growth-strategy-with-acquisition-of-dorsey–company-301442674.html

SOURCE Prospera Financial Services