Shelton registered investment advisory firm Procyon Partners has acquired a Michigan-based wealth management firm with $500 million in client assets. Procyon has acquired OLV Investment Group, which maintains a headquarters in Flint, Michigan, and locations in Livonia, Rochester and Saginaw, Michigan and Frisco, Texas. Financial terms were not disclosed. Procyon said the deal expands its […]
Get Instant Access to This Article
Subscribe to Hartford Business Journal and get immediate access to all of our subscriber-only content and much more.
Shelton registered investment advisory firm Procyon Partners has acquired a Michigan-based wealth management firm with $500 million in client assets.
Procyon has acquired OLV Investment Group, which maintains a headquarters in Flint, Michigan, and locations in Livonia, Rochester and Saginaw, Michigan and Frisco, Texas.
Financial terms were not disclosed.
Procyon said the deal expands its physical presence into the Midwest and South, and adds seven new advisors and 13 additional employees, bringing its total assets under management to nearly $9 billion and total headcount to nearly 80 employees.
The deal is the firm’s largest acquisition to date.
Procyon, which has offices in New York City, Long Island and Maryland,
provides wealth management, retirement consulting and employee benefit services to individuals, families and institutions.
