Prosperity Capital Advisors Announces Key Leadership Appointments: Stan Milovancev Named Co-CEO and Scott Rister Named Co-President and CFO

Strategic transition positions Prosperity to be 'a destination advisory firm'

CLEVELAND, May 22, 2025 /PRNewswire/ -- Prosperity Capital Advisors (Prosperity), an SEC-registered investment advisor that helps simplify holistic wealth management for advisors and the clients they serve, is proud to announce the appointment of Stan Milovancev as Co-Chief Executive Officer and Scott Rister as Co-President and Chief Financial Officer. These leadership additions will help Prosperity continue their reputation for excellence while stepping into a new chapter of growth and innovation.

Milovancev will serve alongside current Co-CEO, Jason L Smith, who will transition to the position of Chairman where he will still serve as the organization's visionary. Rister will collaborate with Co-President, Dave Alison, as Alison focuses more on expanding the capabilities of Prosperity's RIA platform and advanced planning offerings.

Stan Milovancev, CPA, brings over 30 years of leadership in the financial services industry, including his most recent role as President of CBIZ Investment Advisory Services, LLC. His diverse experience and strategic vision make him uniquely qualified to help lead Prosperity through its next phase of growth.

"I am incredibly excited to welcome these two leaders to our organization," said Jason L Smith, Co-CEO of Prosperity. "Stan's integrity and deep industry expertise make him the ideal partner to help carry our mission forward, while Scott's strategic perspective and operational acumen makes him an asset for enhancing our future."

Guiding Prosperity Capital Advisors to continue their already notable reputation and build value for all those involved is a key goal for Milovancev as he steps into his new role.

"Joining Prosperity is an incredible opportunity, and I am dedicated to helping make it a destination advisory firm for clients, advisors, and team members alike," said Milovancev. "I'm energized by the company's commitment to best practices across its offerings and excited to work with an organization that's redefining what it means to support our clients through their advisors."

Scott Rister, a seasoned executive with more than three decades of experience in finance, sales, and advisory services, most recently served as Founder and CEO of RF Advisory Group. Throughout his career, Rister has helped elite firms and hundreds of RIAs unlock new levels of success, including leading a multi-billion-dollar RIA himself.

"I am thrilled to be joining the executive team at Prosperity Capital Advisors," said Rister. "The company culture, long-term vision, and sizeable impact on the industry are what drew me here, but I am also aligned in wanting to provide exceptional holistic services to the individuals and families we serve," added Rister.

Building on the momentum Prosperity has seen over the past decade was the reason for these leadership additions, noted Dave Alison. As an award-winning organization — making the list of 50 Fastest Growing RIAs in 2024 by Financial Advisor Magazine and Best Places to Work for financial advisors in 2025 by InvestmentNews, among other accolades — they have carved a unique space in the industry. By equipping independent advisors across the country with proven processes, coaching, and custom investment solutions to help them operate at scale, Prosperity's nationwide network and resources enable advisors to deliver better outcomes to their clients.

With this leadership evolution, Prosperity is doubling down on its commitment to clients, advisors, and team members by fostering innovation, deepening relationships, and expanding its reach.

About Prosperity Capital Advisors
Prosperity Capital Advisors (Prosperity) is a planning-first, SEC-Registered Investment Adviser (RIA) dedicated to simplifying complex financial challenges for investors nationwide. Prosperity's holistic approach is grounded in five core pillars: financial planning, asset management, tax management, protection planning, and legacy planning. Through a network of fiduciary advisors, Prosperity provides strategic integration across these pillars to deliver coordinated, customized solutions. Prosperity is backed by a team of experienced professionals, including CERTIFIED FINANCIAL PLANNER™ practitioners, tax practitioners, and insurance specialists. For more information, visit prosperitycapitaladvisors.com.

Award Disclosures
Third-party rankings and recognition from rating services or publications are no guarantee of future investment success. Working with a highly rated RIA does not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of PCA or by any client nor are they representative of any one client's evaluation.  Generally, ratings, rankings and recognition are based on information prepared and submitted by the firm. Unless otherwise noted, no fee was paid for consideration of any ranking or award.

FA's RIA survey is a ranking based on assets under management at year end of independent RIA firms that file their own ADV with the SEC. FA's RIA ranking orders firms from largest to smallest, based on AUM reported to us by firms that voluntarily complete and submit FA's survey by our deadline. We do our best to verify AUM by reviewing ADV forms. To be eligible for the ranking, firms must be independent registered investment advisors and file their own ADV statement with the SEC and provide financial planning and related services to individual clients. Firms must have at least $1 billion in assets under management as of December 31, 2023, to be included in the print edition of Financial Advisor magazine's 2024 RIA survey. Firms with under $1 billion will be included in FA's expanded 2024 online RIA survey.

To find and recognize the Best Places to Work, InvestmentNews invited organizations to participate by filling out an employer form, which asked companies to explain their various offerings and practices. Next, employees from nominated companies were asked to fill out an anonymous form evaluating their workplace on several metrics, including benefits, compensation, culture, employee development, and commitment to diversity and inclusion.
To be considered, each organization had to reach a minimum number of employee responses based on its overall size. Organizations that achieved an 80 percent or greater average satisfaction rating from employees were named Best Places to Work of 2025.

Media Contact:
Sarah Tremallo
[email protected]

SOURCE Prosperity Capital Advisors