Details of the deal were not disclosed.
Prosperity was set up by chief executive Andy Cole in 2009 and it will remain an independent brand. Post sale, he will continue to run the business on a day-to-day basis.
DeVere founder and chief executive Nigel Green described the firm as “one of the [Gulf Cooperation Council’s] most respected and licensed advisory companies”.
According to Prosperity’s website, it is licensed and regulated by the UAE Insurance Authority (IA) and the Health Authority of Abu Dhabi (Haad).
Green added that the acquisition “allows us to expand our adviser base in the Gulf region, where client demand for specialist cross-border financial advice is continuing to grow”.
International Adviser reached out to Cole for comment, but no response was received ahead of publication.