Cornerstone Wealth Joins Prospera Financial Services
The Rochester, New York advisory firm brings $600 million in assets under management to the Dallas-based broker-dealer platform.
Updated on Nov. 5, 2026 in Financial Planning
Cornerstone Wealth Management, an advisory firm based in Rochester, New York, has joined Prospera Financial Services as an affiliated firm. The move brings $600 million in assets under management to Prospera's platform, along with six financial advisors, associate advisors and two support staff.
Why it matters
The affiliation expands Prospera's independent advisory network and gives Cornerstone's individual and family clients access to a larger broker-dealer and registered investment adviser platform. Cornerstone's founders said the firm sought a partner aligned with its long-term vision.
Cornerstone brings $600 million in assets under management, about 1.9% of the more than $32 billion in client assets on Prospera's platform. The announcement does not disclose the terms of the affiliation or any changes to fees.
The players
Prospera Financial Services
Prospera is a Dallas, Texas-based independent broker-dealer and registered investment adviser founded in 1982 and a member of FINRA and SIPC.
Cornerstone Wealth Management
Cornerstone is a Rochester, New York advisory firm serving individuals and families across 25 states.
Marc Johnson
Johnson is a co-founder of Cornerstone Wealth Management who is leading the firm's transition to Prospera.
Gene Richardson
Richardson is a co-founder of Cornerstone Wealth Management who is leading the firm's transition to Prospera.
The details
Cornerstone Wealth Management serves individuals and families across 25 states with retirement planning, estate strategies, risk management and multi-generational wealth management. Founders Marc Johnson and Gene Richardson are leading the transition, which moves Cornerstone's advisors and staff onto Prospera's platform.
Timeline
Last month (October 2026): Prospera added Florida wealth manager John Farren to its network.
November 5, 2026: The announcement of Cornerstone's affiliation with Prospera was published.
Market Dynamics
Independent broker-dealer platforms such as Prospera compete by adding established advisory firms that bring their own client assets. Cornerstone's move follows that pattern, adding $600 million in assets under management to a platform that already oversees more than $32 billion.
Cornerstone's individual and family clients will be advised by the same firm's team on Prospera's platform, which the announcement describes as a continuation of the existing relationship. The announcement does not state whether account terms, fees or custodians will change.
The takeaway
Investors working with an advisory firm should ask whether a planned affiliation or platform change will affect their fees, account custodian or advisor relationship. Clear answers to those questions before any transition helps protect long-term planning.
Further reading
For more on how advisory firms manage clients' long-term goals, see Financial Planning.
