Prosperity Capital Advisors
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Overview
Prosperity Capital Advisors is a financial advisory firm headquartered in Westlake, Ohio. Prosperity Capital Advisors manages $1.7 billion in total assets throughout 7,565 accounts, placing it among the largest financial advisory firms in the country by assets under management (AUM). Prosperity Capital Advisors has a large team, including 63 financial advisors. Prosperity Capital Advisors is not a registered broker-dealer, meaning the company cannot buy and sell securities for its clients' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable fiscal investments such as bonds, equities and options.
Prosperity Capital Advisors oversees all of its accounts in a discretionary manner. Discretionary management signifies that transaction decisions for the client's account are made by a portfolio manager without needing to seek the client's consent. Prosperity Capital Advisors supervises an average of $226,362 in assets for every customer account. An average financial advisor at Prosperity Capital Advisors administers about 120 client accounts.
The company's headquarters is located at 30400 Detroit Road, Westlake, Ohio 44145. The company is legally allowed to provide services to customers throughout 33 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Prosperity Capital Advisors by the Numbers
$1.7 billion
143
7,565
$226.4 thousand
Products and Services
Prosperity Capital Advisors provides a variety of services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers, educational seminars and other services. In the prior fiscal year, it provided 4000 of its accounts with financial planning services. The company does not sell products or offer services apart from investment advice to its investment advisory customers. The firm also has a number of financial industry affiliations, including with an insurance company or agency.
Core Advisor Services
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Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
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Offered by 46% of firms
Portfolio Management
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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Offered by 6% of firms
Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Financial advisory fees usually vary depending on the financial services offered. Fees charged by the company likely are comprised of some blend of the following fee structures: asset-based, hourly or fixed. The firm does not provide a wrap fee program, in which the company offers a service bundle for a comprehensive fee.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 21% of firms
Hourly
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Offered by 32% of firms
Fixed
Unavailable
Types of Clients
The firm manages money for a broad range of investors. The firm works with retail investors, high net worth investors, pension plans, charitable organizations, insurance companies and corporations. Out of its 7,565 customers, Prosperity Capital Advisors's biggest client is retail investors, though it also serves 212 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its clients are from outside of the U.S.
- High-Net-Worth Individuals* - 5.44%
- Other Individuals - 94.12%
- Corporations - 0.36%
- Charitable Organizations - 0.08%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Disclosures
Prosperity Capital Advisors does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Prosperity Capital Advisors
Westlake, OH
Schererville, IN
Ft Mitchell, KY
Arden, NC
Westlake, OH
Westlake, OH
Bonita Springs, FL
Newberry, FL
Marietta, GA
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