M and A
Deals Of The Day: The Latest In Wealth Management M&A – Procyon, OLV
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Procyon, OLV
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.