Prospera Financial Services has acquired St. Louis, Mo.–based Cutter & Co., an independent broker-dealer with approximately $2 billion in total client assets, 40 advisers and 12 employees.
Cutter & Co. CEO Deborah Castiglioni, president William Meyer and the entire staff will remain with the company. Castiglioni will serve in a leadership position, ensuring the smooth transition of the Cutter staff to Prospera's back office, and Meyer will continue to serve his book of clients as an adviser.
“Smaller, boutique broker-dealers provide meaningful service to their advisers and will continue to be a valuable asset to the wealth management industry,” said Tim Edwards, Prospera chairman and co-CEO. “The Cutter team understands the importance of personal connections between staff and advisers, and how these relationships enhance the adviser's ability to build a strong, independent business. We are excited to welcome Debbie, Bill and the entire team to the Prosp
