Deals & Recruiting Roundup: Wealth Enhancement, Procyon, NewEdge And More

December 16, 2025 By Thomas Lee

Dynasty Financial Partners network partner firm Procyon Advisors purchases OLV Investment Group, a wealth management firm with about $500 million in assets under management (AUM) and multiple locations in Michigan and Texas. The addition of OLV boosts Procyon’s total AUM to nearly $9 billion and its total headcount to almost 80.

The acquisition, Procyon’s largest to date, expands its physical presence into the Midwest and South, and adds seven advisors and 13 team members. In July, Procyon announced acquired Wooster Corthell Wealth Management, a Glastonbury, Connecticut-based boutique advisory firm managing about $600 million in client assets at the time.

“Our goal has always been to build a firm that delivers comprehensive solutions through a team-based, client-first approach,” said Phil Fiore, CEO of Procyon. “By joining forces with OLV, we are extending the reach of our platform to new regions and clients with evolving financial needs.”

Procyon Adds Bevin Nealon as Vice President, Strengthening Advisory Team in Connecticut

December 16, 2025 By CityBiz

CT investment advisory firm makes $500M acquisition

December 10, 2025 By Michael Juliano

Shelton registered investment advisory firm Procyon Partners has acquired a Michigan-based wealth management firm, OLV Investment Group, with $500 million in client assets. OLV Investment Group maintains headquarters in Flint, Michigan, and locations in Livonia, Rochester and Saginaw, Michigan and Frisco, Texas.

Procyon Buys $500 Million Firm With Offices In Michigan And Texas

December 9, 2025  By Jeff Berman

ynasty Financial Partners network partner firm Procyon Advisors announced Monday that it acquired OLV Investment Group, a wealth management firm with about $500 million in assets under management (AUM) and multiple locations in Michigan and Texas.

The acquisition, Procyon’s largest to date, expands its physical presence into the Midwest and South, and adds seven advisors and 13 team members, it said.

The addition of OLV boosts Procyon’s total AUM to nearly $9 billion and its total headcount to almost 80, Procyon said.

“Our goal has always been to build a firm that delivers comprehensive solutions through a team-based, client-first approach,” Phil Fiore, CEO of Procyon, said in a news release. “By joining forces with OLV, we are extending the reach of our platform to new regions and clients with evolving financial needs.”

He added, “This is about applying what we’ve built to serve a wider audience, without ever losing the personal touch that defines us.”

For individual investors and families, Procyon provides investment management, financial planning, tax strategy, estate planning coordination and business-owner advisory services, it said. On the institutional front, Procyon said it helps companies design and manage retirement and health plans while educating plan participants.

OLV emphasizes planning, transparency and education, according to Procyon.

“We’re proud of the business we’ve built and the trust we’ve earned from clients over the years,” Tim Tenneriello, CEO of OLV Group, said in the news release. “In Procyon, we’ve found a partner that shares our values and enhances our ability to grow alongside our clients.”

In July, Procyon announced that it acquired Wooster Corthell Wealth Management, a Glastonbury, Connecticut-based boutique advisory firm managing about $600 million in client assets at the time. That deal boosted Procyon’s AUM to about $8 billion at the time.

Deals Of The Day: The Latest In Wealth Management M&A – Procyon, OLV

December 9, 2025  By Family Wealth Reports Editorial Staff

Procyon, an RIA, has acquired OLV Investment Group, a wealth management firm in Michigan and Texas. The acquisition brings about $500 million in assets under management, taking Procyon’s total AuM to almost $9 billion and its headcount to nearly 80.

The acquisition is the largest that Procyon has carried out so far, it said in a statement yesterday.

“By joining forces with OLV, we are extending the reach of our platform to new regions and clients with evolving financial needs,” Phil Fiore, CEO of Procyon, said.

Headquartered in Shelton, Connecticut, Procyon operates from offices in New York City, Long Island, Maryland – and now Michigan and Texas. It is a partner within the Dynasty Financial Partners Network.

Procyon acquires OLV to expand presence in US

December 9, 2025  By Vidyasagar Maddela

S-based registered investment advisory (RIA) firm Procyon Partners has acquired OLV Investment Group to expand its footprint into the Midwest and South.

OLV is a wealth management firm operating from multiple locations in Michigan and Texas.

The acquisition of OLV adds more than $500m in assets under management (AUM), bringing Procyon’s total AUM to nearly $9bn.

It also includes the transition of seven financial advisers and 13 team members from OLV, increasing the RIA firm’s workforce to almost 80 employees.

This transaction supports Procyon’s strategy to expand the reach of its wealth management platform across the US.

Procyon CEO Phil Fiore said: “Our goal has always been to build a firm that delivers comprehensive solutions through a team-based, client-first approach.

“By joining forces with OLV, we are extending the reach of our platform to new regions and clients with evolving financial needs.

“This is about applying what we’ve built to serve a wider audience, without ever losing the personal touch that defines us.”

Procyon offers services including financial planning, investment management, tax strategy, estate planning coordination, and advisory support for business owners.

For institutional clients, the firm assists with the design and management of retirement and health plans, as well as participant education on financial matters.

The combined firm will continue to deliver financial advice tailored to clients’ needs, leveraging Procyon’s operational resources, technology, and centralised support.

Also, the addition of OLV aligns with its long-term objective to extend its wealth management services to a broader client base across the country.

In July this year, Procyon expanded in its home market with the purchase of Wooster Corthell Wealth Management, which manages around $600m in client assets.

Procyon acquires $500m Michigan RIA

December 8, 2025  By Alec Rich

Connecticut RIA Procyon revealed one of its largest deals to date on Monday, as the firm continues to scale up since selling a stake to Constellation Wealth Capital (CWC) earlier this year.

Procyon’s deal brings aboard OLV Investment Group, a Flint, Mich.-based RIA overseeing roughly $500m in client assets. Specific financial terms of the deal were not disclosed.

Procyon said the addition expands its presence across the Midwest and South, as OLV has several outposts across Michigan and Texas. OLV is led by chief executive Tim Tenneriello, who joined the RIA in 2024 after serving as COO of a charter school support services firm, per his LinkedIn.

OLV is a 20-person firm with roughly 2,300 clients, including nearly 200 pension plans and 35 corporations, per its last Form ADV filing in March. The RIA is co-owned by Tenneriello, chief investment officer Jesse Vanvalin and chief legal officer Joel Lagore.

‘By joining forces with OLV, we are extending the reach of our platform to new regions and clients with evolving financial needs,’ Procyon chief executive Phil Fiore stated. ‘This is about applying what we’ve built to serve a wider audience, without ever losing the personal touch that defines us.’

Procyon said the deal brings its overall headcount to around 80 employees and boosts its total assets to roughly $9bn.

Procyon, which is part of the Dynasty Financial Partners network of RIAs, has made a number of changes this year to supplement its growth.

Most prominently, CWC took a minority stake in the RIA in April after Procyon began a search for a minority investor late last year. In July, Procyon bought a fellow Connecticut firm, Wooster Corthell Wealth Management, that oversaw $600m in assets.

On the personnel side, Procyon tapped ex-Osaic compliance executive Todd Smallwood as CCO late last month. Fiore said at the time that specialized leaders like Smallwood are necessary to sustain Procyon’s growth. Dynasty alum Gabby Payne was also brought on as chief administrative officer in August, per her LinkedIn.

Shelton-based Procyon said it operates outposts in New York City, Long Island and Maryland, along with its new expansion efforts in Michigan and Texas.

Dynasty-Backed Procyon Acquires $500M OLV Investment Group

December 8, 2025  By Diana Britton

Procyon Partners, a registered investment advisor based in Shelton, Conn., that is part of the Dynasty Financial Partners network, has acquired OLV Investment Group, a wealth management firm with over $500 million in client assets and locations in Michigan and Texas.

The deal brings Procyon’s total assets under management to nearly $9 billion and total headcount to nearly 80. The addition also expands Procyon’s presence into the Midwest and South, bringing on seven new advisors and 13 team members.

OLV was founded in 2021 and is now run by principals Tim Tenneriello, Joel LaGore and Jesse VanValin. They were previously affiliated with AE Financial Services, a Topeka, Kan.-based independent broker/dealer, but they dropped their FINRA licenses this month.

“By joining forces with OLV, we are extending the reach of our platform to new regions and clients with evolving financial needs,” said Phil Fiore, CEO of Procyon, in a statement. “This is about applying what we’ve built to serve a wider audience, without ever losing the personal touch that defines us.”

OLV primarily serves individuals, but it does have some pension and profit-sharing plans as clients. Procyon has a large institutional business.

This follows news earlier this year that Procyon sold a minority stake in the business to Constellation Wealth Capital, a private equity firm founded by former Emigrant Partners CEO Karl Heckenberg. In an interview with WealthManagement.com, Fiore said his firm would use the capital to make four to six deals per year, focusing on the space between the Mississippi River and the East Coast.

What Makes an RIA Attractive to Acquirers? There’s No Simple Answer.

November 10, 2025  By Harris Baltch

Phil Fiore, CEO, Procyon: What I look for, most important, is an acquisition target that believes that we, as a collective, are better together. If they believe a deal is just about them making us better, or just about us making them better, then that would be a significant cultural disconnect.

They need to eliminate the “this is our team” approach. At Procyon we have a “one team one dream” approach and we don’t have silos. So, adapting to that philosophy is a major component of any deal.

Growth-Minded FAs Look Beyond AUM to Divvy Up Clients

October 7, 2025  By  Sam Del Rowe

Financial advisors have traditionally relied on clients’ asset amounts to determine service levels, but some are considering other factors, such as complexity and profession, to create their all-important client tiers. Client segmentation is a key practice of advisors who grow sustainably regardless of market conditions, according to a study from LPL Financial.