Prospera adds $650M AUM firm in Redlands, California

Prospera adds $650M AUM firm in Redlands, California
The team was attracted to the boutique wealth management firm's 'family-like' culture.
FEB 20, 2024

A California-based firm of four financial advisors managing $650 million in client assets has joined the Prospera Financial Services network.

Painter Smith & Amberg Inc. has been operating for more than 40 years and comprises advisors Charles Painter, David Smith, Jeffrey Amberg and Kallie Rawson, whose combined 100 years of industry experience focuses on wealth management, 401(k) services and investment-related opportunities.

Since the firm was founded, its objective has been “to offer investment services available at the large firms or wirehouses with the personal touch and accountability of an independent firm.”

"Prospera's commitment to a family-like culture, strong leadership, and emphasis on integrity perfectly aligns with our values," said Charles Painter, president of Painter Smith & Amberg. "We look forward to leveraging Prospera's resources to enhance the quality of service for our clients."

Their firm adds to the growing Prospera network, which totals 168 advisors in 94 locations managing a combined $60 billion in client assets.

"The dedication to personalized service that Charles, David, Jeffrey and Kallie bring to every client relationship has placed Painter Smith & Amberg Inc. among the best in the business,” said Tarah Williams, president and chief operating officer of Prospera Financial Services. “We share similar core values and are pleased they chose Prospera to help them continue to foster their growth and success for years to come."

Prospera recently launched a suite of services to help serve the family office requirements of ultra-high-net-worth clients in response to growing advisor demand.

Last year, Tarah Williams wrote an article for InvestmentNews about the questions financial advisors should consider before making a move to independence.

Latest News

Five-person Raymond James team jumps to Janney in Maryland
Five-person Raymond James team jumps to Janney in Maryland

The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.

$20B Merit looks to next phase as Constellation takes minority stake
$20B Merit looks to next phase as Constellation takes minority stake

The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.

$350M father-son duo hops from Osaic to Equitable Advisors
$350M father-son duo hops from Osaic to Equitable Advisors

The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”

Fresh off HPS acquisition, BlackRock inks deal for $7.3B ElmTree Funds
Fresh off HPS acquisition, BlackRock inks deal for $7.3B ElmTree Funds

The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.