Matt Gaspar: Why Did Prospera Advisor Resign from Merrill Lynch?

Paradise Valley, Arizona financial advisor Matt Gaspar (CRD# 5772487) recently resigned from Merrill Lynch in connection with allegations of misconduct. Financial Industry Regulatory Authority records show that he recently registered as a broker and an investment advisor with Prospera Financial Services.

Mr. Gaspar’s BrokerCheck report discloses his resignation from Merrill Lynch. Filed in May 2023, it states that he voluntarily resigned from the firm in connection with allegations of “Conduct involving making inaccurate entries related to required client account reviews in an internal tracking system.”

For reference, Mr. Gaspar’s current member firm, Prospera Financial Services is a broker-dealer firm headquartered in Dallas, Texas. FINRA records show that it has been involved in 10 regulatory events and three arbitration proceedings. The most recent regulatory event, in 2016, was a sanction by the Securities and Exchange Commission alleging misstatements made by to advisory clients regarding an investment strategy offered by F-Squared Investments. Merrill Lynch, Mr. Gaspar’s former member firm, is a broker-dealer firm headquartered in New York City. FINRA records show that it has been involved in 593 regulatory events and 874 arbitrations.

According to the Financial Industry Regulatory Authority, Matt Gaspar holds 13 years of securities industry experience. Based in Paradise Valley, Arizona, he has been a broker and an investment advisor with Prospera Financial Services since May 2023. He was previously registered with Merrill Lynch in Phoenix, Arizona from 2010 until 2023. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He currently holds 34 state licenses. (Information current as of June 19, 2023.)

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