Procyon's $9B Milestone: A Strategic Play in the RIA Consolidation Game

NEW YORK, NY – December 08, 2025 – In a move that underscores the relentless pace of consolidation within the wealth management industry, Procyon Partners has announced its largest acquisition to date, absorbing OLV Investment Group. The deal adds over $500 million in client assets and expands Procyon’s national footprint into the Midwest and South, catapulting the firm’s total assets under management to nearly $9 billion. This acquisition is more than just an expansion; it's a telling move in a high-stakes game where scale, technology, and talent are the new currencies of dominance.

Riding the RIA Consolidation Wave

Procyon’s acquisition of OLV Investment Group is not an isolated event but a prime example of the strategic maneuvering defining the independent Registered Investment Advisor (RIA) landscape. The M&A market for wealth managers has been white-hot, with a staggering 366 deals announced in 2024 alone, a 14% increase from the previous year. A significant driver of this activity is the flood of private equity capital, which played a role in over 70% of transactions last year.

Firms like Procyon, which itself received a strategic minority investment from Constellation Wealth Capital, are leveraging this capital to pursue aggressive inorganic growth. The objective is clear: achieve national scale to create operational efficiencies, enhance service offerings, and attract top-tier advisory talent. In a fragmented market, acquiring established firms provides an immediate injection of assets, experienced personnel, and, crucially, a pre-built client base in new territories. This strategy allows consolidators to bypass the slow, arduous process of organic growth in new regions, instead planting a flag through established and trusted local names. The current market, characterized by high valuations and a surplus of well-capitalized buyers, has created a fertile ground for such strategic acquisitions, turning regional players into national powerhouses in remarkably short order.

A Strategic Play for National Scale

The specifics of the OLV deal reveal a meticulously planned expansion. The addition of approximately $500 million in assets is significant, but the strategic value lies in the details. The acquisition brings seven financial advisors and thirteen support staff into the Procyon fold, expanding its total headcount to nearly 80 professionals. More importantly, it establishes a physical presence in key new markets through OLV's five offices in Michigan (Flint, Livonia, Rochester, Saginaw) and Texas (Frisco). This provides Procyon with an instant, on-the-ground foothold in two economically significant and diverse regions.

This move is a continuation of Procyon's impressive growth trajectory. The firm, which managed $5.3 billion in 2022 and grew to $6.3 billion by 2023, has demonstrated a clear and consistent strategy of scaling up. By reaching nearly $9 billion in AUM, Procyon joins an increasingly elite group of independent advisory firms with the scale to compete directly with wirehouses and major national platforms. This scale is further supported by its partnership within the Dynasty Financial Partners Network, which provides access to a sophisticated ecosystem of technology, operational support, and investment solutions. As Phil Fiore, Chief Executive Officer of Procyon, stated in the announcement, “This is about applying what we’ve built to serve a wider audience, without ever losing the personal touch that defines us.”

Beyond the Balance Sheet: Integrating Services and Talent

While the headline numbers are compelling, the long-term success of this acquisition hinges on the effective integration of people, culture, and services. Procyon’s leadership appears keenly aware that a successful merger is about more than just combining balance sheets. The stated goal is to extend the firm’s comprehensive, team-based service model to a broader client base while preserving the client-centric ethos that both firms cultivated.

For OLV’s clients, the transition promises access to Procyon’s deeper well of resources. This includes an integrated suite of services that spans not only investment management and financial planning but also complex areas like tax strategy, estate planning coordination, and specialized advisory for business owners. Furthermore, Procyon’s institutional arm, which helps companies manage retirement and health plans, opens up new avenues for holistic financial wellness services. The key to a seamless client experience will be Procyon’s ability to deliver these enhanced capabilities without disrupting the trusted advisor-client relationships that OLV built over years. The decision to keep all five OLV offices operational and fully staffed is a critical first step in demonstrating this commitment to continuity.

On the human capital front, cultural alignment is paramount. The statement from OLV’s CEO, Tim Tenneriello, that “In Procyon, we’ve found a partner that shares our values,” suggests that this critical due diligence was a priority. For the seven advisors and their teams joining Procyon, the move offers the benefits of a larger platform—access to advanced technology, centralized support, and greater opportunities for professional growth—while joining a firm that ostensibly mirrors their own client-first philosophy. Retaining this key talent will be the true test of the merger's strategic synergy.

Navigating a New Competitive Landscape

By planting its flag in Michigan and Texas, Procyon enters bustling and competitive wealth management markets. The firm will now go head-to-head with established regional RIAs, local offices of national giants, and the ever-present wirehouses. However, the structure of this acquisition gives Procyon a distinct advantage. It is not entering these markets as an unknown entity but is instead absorbing a known local player, inheriting its client relationships and community standing.

This model—combining the resources, technology, and broad capabilities of a national platform with the localized expertise and personal touch of an established regional team—is proving to be a powerful formula in the modern wealth management industry. It allows a firm like Procyon to offer the best of both worlds: the boutique feel that high-net-worth clients value, backed by the institutional-grade infrastructure required to manage complex financial lives. As the RIA landscape continues its rapid consolidation, the ability to successfully execute this hybrid model will separate the winners from the rest. The success of this integration will ultimately be measured not just by the assets gathered, but by the successful fusion of national resources with deeply rooted local expertise.