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.

Benefits Think Why more employers are embracing total benefits consulting

October 29, 2025  By Sean Rabinowitz Thomas Gahan

As the lines between  financial wellness and physical well-being continue to blur in today’s workplace, employers are rethinking how they deliver employee benefits. The result is a growing shift toward the total benefits consulting (TBC) model, an approach that unites all aspects of benefits strategy under one integrated advisory team.

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.

Top tips for young financial advisors

July 30, 2025 by Suleman Din and Bernice Napach

Take the uphill challenge of building a book of business from scratch.

You’ve leveraged your network of friends and family, and now you’re stretching to cut through the noise of everyday digital distractions to impress prospects. You’re in an advisory firm trying to learn from the same seasoned professionals you’re hoping to impress. You’re also gaining hands-on experience in the industry’s complexity and learning how to comply with its regulatory requirements.

Looking back on their beginnings in the business, several advisors say that young professionals can build a successful practice with less pain by honing their communication skills, pursuing continuous education, cultivating a solid network, and prioritizing integrity.

They’ve shared their top tips with Action! Magazine to help young financial advisors establish themselves as credible, reliable and knowledgeable professionals ready to guide clients through their financial journeys confidently and clearly.