Shelton-based registered investment advisory firm Procyon said it has acquired a Glastonbury investment firm, increasing its assets under management by more than 8%. Procyon, headquartered at One Corporate Drive, in Shelton, has purchased Wooster Corthell Wealth Management, based at 655 Winding Brook Drive, in Glastonbury. Procyon said the deal increases its assets under management to […]
Shelton-based registered investment advisory firm Procyon said it has acquired a Glastonbury investment firm, increasing its assets under management by more than 8%.
Procyon, headquartered at One Corporate Drive, in Shelton, has purchased Wooster Corthell Wealth Management, based at 655 Winding Brook Drive, in Glastonbury.
Procyon said the deal increases its assets under management to about $8 billion from approximately $7.4 billion. Financial terms were not disclosed.
Procyon advises high-net-worth individuals, families and business owners. On the institutional side, it counsels companies and organizations on designing and managing their retirement and health plan offerings while educating plan participants on preparing for retirement.
Wooster Corthell's Glastonbury office will continue full operations, as three advisors and five staff members join Procyon. The deal has increased the number of advisers employed by Procyon, which has offices in Connecticut, New York City, Long Island, Tennessee, and Maryland, to 56.
Dynasty Investment Bank served as the exclusive financial advisor to Procyon in the deal.
