Prospera Financial Services a wealth management firm serving independent advisors, said Wednesday that it has acquired Dorsey & Co., a New Orleans firm with roughly $1.4 billion in assets under management.
The firm will maintain the Dorsey and Co. brand and operate as a Prospera office of supervisory jurisdiction.
Dallas-based Prospera, which will celebrate its 40th anniversary next year, works with about 150 financial advisors and some $14.6 billion in assets under management.
"We are delighted to team with Dorsey & Company, whose boutique approach to service and shared culture make them a perfect partner for us going forward," according to Tim Edwards, Prospera's co-chief executive and managing partner, said in the announcement.
