David A. Brown

PROSPERA FINANCIAL SERVICES

Buffalo, NY 14202

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CRD#: 1790478

Professional summary

David Arthur Brown is a registered financial advisor currently at PROSPERA FINANCIAL SERVICES, INC. located in Buffalo, New York.

David is registered as an IAR (Investment Advisor Representative) and RR (Registered Representative) and started their career in finance in 1988. David has worked at 5 firms and has passed the Series 65, Series 63, SIE, Series 7 and Series 24 exams.

Question & Answer

Are you a "fiduciary"?

Yes

Aliases

None

Other business activities

Outside business activity is any business or activity undertaken by an advisor that is outside the scope of their relationship with their firm (e.g., consulting services, real estate, freelance work, teaching, etc.). Investors should stay informed about these activities to ensure no conflicts of interest.

MR. BROWN IS A CERIFIED FLIGHT INSTRUCTOR LOCATED AT 53 PONDEROSA CT., ORCHARD PARK, NY 14127. THIS BUSINESS IS NOT INVESTMENET RELATED. SPENDING 1-9% OF HIS TIME NONE DURING MARKET HOURS. COMPENSATION IS 1-9% OF HIS ANNUAL INCOME. Magellan WEALTH ADVISORS, INV RELATED, ORCHARD PARK, NY, 100% OWNERSHIP, START 1/1/2005, 120 HOURS PER MONTH, 8 HOURS DURING TRADING, PFS PRACTICE. WNY AERO, LLC., CO-OWNER LOCATED AT 53 PONDEROSA CT, ORCHARD PARK, NY 14127. THIS BUSINESS IS NOT INVESTMENET RELATED. SPENDING 1-9% OF HIS TIME NONE DURING MARKET HOURS. NO COMPENSATION AT THIS TIME. MR. BROWN IS A VOLUNTEER FOR US COAST GUARD AUXILIARY LOCATER AT US COAST GUARD STATION 1 FUHRMANN BLVD., BUFFALO, NY 14203. THIS BUSINESS IS NOT INVESTMENET RELATED. SPENDING 1-9% OF HIS TIME NONE DURING MARKET HOURS. NO COMPENSATION AT THIS TIME.

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view David Arthur Brown's CRS (Customer Relationship Summary).

CRS (Customer Relationship Summary)

CRS (Client Relationship Summary) - BD

Click below to view David Arthur Brown's CRS (Customer Relationship Summary).

CRS (Customer Relationship Summary)

Certified licenses

Advisors may have various certifications and credentials from different organizations. AdvisorCheck highlights these seven certifications - AIF®, CFP®, ChFC®, CFA, CLU®, CIMA®, CPWA®

None

Experience

Current

November 8, 2019 - Present

PROSPERA FINANCIAL SERVICES, INC.

Office #1: 534 Delaware Ave Ste 104, Buffalo, NY 14202

RIA

CRD#: 10740

Buffalo, NY

Current

October 4, 2019 - Present

PROSPERA FINANCIAL SERVICES, INC.

Office #1: 534 Delaware Ave Ste 104, Buffalo, NY 14202

RIA

CRD#: 10740

Buffalo, NY

Past

November 4, 2005 - October 8, 2019

WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC

CRD#: 11025

BUFFALO, NY

Past

June 18, 1999 - November 28, 2005

ADVEST, INC.

CRD#: 10

HARTFORD, CT

Past

August 20, 1988 - June 22, 1999

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

CRD#: 7691

NEW YORK, NY

Past

February 23, 1988 - March 9, 1988

J. W. GANT & ASSOCIATES, INC.

CRD#: 7963

Primary Firm SEC Registration

This SEC-registered firm can serve clients nationwide. Some states may require the firm to submit a notice filing if the firm has more than 5 clients or a physical office there. You can view these state-level filings under the section titled "State Registrations and Notice Filings".

PROSPERA FINANCIAL SERVICES, INC.

CRD#: 10740 / SEC#: 801-65845, 8-28164

RIA

Registered Investment Advisory firm - SEC (2/1/2006 Approved)

Texas

Registered Investment Advisory firm - SEC (2/2/2006 Terminated)

Broker-Dealer Firm Regulated by FINRA (Dallas district office)

Why is a state registration marked "Terminated"? When a firm registers with the SEC (usually after managing $100M+ AUM), it often withdraws separate state firm registrations unless required by that state. The firm can still serve clients there through its individually registered Investment Advisor Representatives (IARs).

State Registrations and Notice Filings

Listed states reflect where the advisor is authorized to serve clients under state regulations.

IAR

means the advisor is registered as an Investment Advisor Representative in this state and is authorized to provide investment advice to clients there.

indicates the advisor is registered as a Registered Representative in this state, allowing them to offer securities such as stocks, bonds, and mutual funds through a broker-dealer.

Visual representation of state registrations

California
(10/4/2019)

Delaware
(10/4/2019)

District of Columbia
(10/4/2019)

Florida
(10/4/2019)

Georgia
(10/4/2019)

Hawaii
(1/15/2020)

Illinois
(10/4/2019)

Maryland
(10/4/2019)

Massachusetts
(10/4/2019)

Missouri
(10/4/2019)

Nebraska
(9/6/2023)

New Jersey
(10/4/2019)

New York
(10/4/2019)

IAR

New York
(2/4/2021)

North Carolina
(10/4/2019)

Ohio
(10/4/2019)

Oregon
(9/20/2023)

South Carolina
(10/18/2023)

Don't see your state listed? The advisor may still be able to work with you under the federal De Minimis Rule, which allows up to five investment advisory clients in a state without registration. Some states, like TX, LA, NE, and NH, may still require registration or notice filing. Contact the advisor or their firm to confirm their investment advisory availability in your state. Note: This rule does not apply to broker-dealer activity.

Exams

State Security Law Exam

IAR

Series 65

Date: 11/6/2019

Uniform Investment Adviser Law Examination

State Security Law Exam

Series 63

Date: 3/1/1988

Uniform Securities Agent State Law Examination

General Industry/Product Exam

SIE

Date: 10/1/2018

Securities Industry Essentials Examination

General Industry/Product Exam

Series 7

Date: 2/20/1988

General Securities Representative Examination

Principal/Supervisory Exam

Series 24

Date: 2/2/2006

General Securities Principal Examination

SRO Registrations

FINRA

Current Firm

PROSPERA FINANCIAL SERVICES, INC.

CRD#: 10740 / SEC#: 801-65845, 8-28164

RIA

Registered Investment Advisory firm - SEC (2/1/2006 Approved)

Texas

Registered Investment Advisory firm - SEC (2/2/2006 Terminated)

Broker-Dealer Firm Regulated by FINRA (Dallas district office)

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Contact information

Main Address

5429 Lbj Freeway Suite 750, Dallas, TX 75240

Mailing Address

5429 Lbj Freeway Suite 750, Dallas, TX 75240

Phone number

(972) 581-3000

Established

Texas since 07/16/1982

Firm type

Corporation

Fiscal year end

June

Firm Size

Medium

# of Employees

333

SEC notice filing (53 States and Territories)

FINRA licenses (53 States and Territories)

Documents

Customer Relationship Summary (CRS / SEC)

Customer Relationship Summary (CRS / FINRA)

Latest Form ADV

Part 2 Brochures

PROSPERA FINANCIAL SERVICES 2A DISCLOSURE BROCHURE 2025.09.30 (9/30/2025)

PROSPERA FINANCIAL SERVICES 2A DISCLOSURE BROCHURE 2025.09.30 WRAP (9/30/2025)

Direct owners and executive officers

Name	Position	CRD#
PROSPERA FINANCIAL, LLC	HOLDING COMPANY
BAXTER, SHAWN	CHIEF COMPLIANCE OFFICER	4346594
EDWARDS, TIM ALAN	CO-CEO	1569619
KERN, EDWARD	CHIEF FINANCIAL OFFICER	4364143
PASCUZZI, RICHARD DEAN	EXECUTIVE VICE PRESIDENT, SECRETARY	711548
STRINGER, DAVID WALTER	CO-CEO	1410548
WILLIAMS, TARAH ELIZABETH	PRESIDENT, CHIEF OPERATING OFFICER	2727706

Regulatory assets under management

Total Number of Accounts	29,500
AUM (Assets Under Management)	$ 12,435,115,072

Disclosures

Regulatory Event	10
Arbitration	3
Bond	1

Accountant surprise examination report

Filing Date	Form ADV-E Cover	Form ADV-E Report
02/26/2025	Cover Page	Report
04/23/2024	Cover Page	Report

Red Flags

Disclosures can be potential red flags, including customer disputes, regulatory fines, employer terminations, bankruptcies, judgments, liens, or certain criminal activities.

Check for any disclosures as part of your thorough research when choosing an advisor.

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David A. Brown

Professional summary

Question & Answer

Aliases

Other business activities

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view David Arthur Brown's CRS (Customer Relationship Summary).

CRS (Client Relationship Summary) - BD

Click below to view David Arthur Brown's CRS (Customer Relationship Summary).

Certified licenses

Experience

PROSPERA FINANCIAL SERVICES, INC.

WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC

ADVEST, INC.

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

J. W. GANT & ASSOCIATES, INC.

Primary Firm SEC Registration

PROSPERA FINANCIAL SERVICES, INC.

State Registrations and Notice Filings

Exams

Series 65

Date: 11/6/2019

Series 63

Date: 3/1/1988

SIE

Date: 10/1/2018

Series 7

Date: 2/20/1988

Series 24

Date: 2/2/2006

FINRA

Current Firm

PROSPERA FINANCIAL SERVICES, INC.

Contact information

SEC notice filing (53 States and Territories)

FINRA licenses (53 States and Territories)

Documents

Part 2 Brochures

Direct owners and executive officers

Regulatory assets under management

Disclosures

Accountant surprise examination report

Red Flags

Company Information

PROSPERA FINANCIAL SERVICES, INC.

TRUST BUT VERIFY

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