Procyon acquires OLV to expand presence in US

Core Insights - Procyon Partners, a US-based registered investment advisory firm, has acquired OLV Investment Group to enhance its presence in the Midwest and South regions [1][2] - The acquisition adds over $500 million in assets under management (AUM), increasing Procyon's total AUM to nearly $9 billion [1][2] - The transaction includes the transition of seven financial advisers and 13 team members from OLV, raising Procyon's workforce to almost 80 employees [2] Company Strategy - The acquisition supports Procyon's strategy to expand its wealth management platform across the US [2][4] - Procyon aims to deliver comprehensive solutions through a team-based, client-first approach, as stated by CEO Phil Fiore [2][3] - The firm plans to extend its services to new regions and clients with evolving financial needs while maintaining a personal touch [3][4] Service Offerings - Procyon provides a range of services including financial planning, investment management, tax strategy, estate planning coordination, and advisory support for business owners [3][4] - For institutional clients, the firm assists with the design and management of retirement and health plans, along with participant education on financial matters [4] - The combined firm will leverage Procyon's operational resources, technology, and centralized support to deliver tailored financial advice [4] Recent Developments - Earlier in July, Procyon expanded in its home market by acquiring Wooster Corthell Wealth Management, which manages approximately $600 million in client assets [5]