Prospera Financial Services, INC.
Prospera Financial Services (PFS) is a registered investment advisor and broker-dealer that offers investment management and financial planning services to individuals, retirement plans, trusts, estates, and businesses. PFS provides these services through various programs, including the Summit Advisory Program and programs sponsored by Envestnet, SEI, AssetMark, RBC, Schwab, and Wells Fargo. PFS investment advisor representatives work with clients to determine their investment objectives and recommend suitable programs. PFS also receives compensation from various sources, including advisory fees, commissions, and revenue sharing arrangements, which creates potential conflicts of interest.
Fee Structure
Prospera Financial Services offers investment management through various programs. The fees are based on a percentage of your portfolio's value and are negotiable, but the maximum annual fee is 2.15%. The specific fee and services are agreed upon in an advisory agreement. Fees are typically deducted from your account. Some programs may have additional fees, such as transaction costs or sub-account fees. Prospera also participates in revenue sharing with custodians and other third parties, which creates a conflict of interest.