The deal gives Procyon its first New Jersey office while expanding the Shelton firm’s tax and accounting capabilities.
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Shelton-based wealth management firm Procyon announced it has acquired a New Jersey investment adviser and its affiliated tax and accounting practice, adding approximately $415 million in assets under management and establishing its first office in that state.
Procyon said its acquisition of Sparta-based Elite Retirement Consultants LLC and Dispenziere & Associates LLC closed Thursday. Financial terms were not disclosed.
All 12 employees of the two firms, including four financial advisers and tax staff, will join Procyon. The Sparta office will remain open, the company said.
Procyon said the deal expands its tax and accounting capabilities alongside its investment management, financial planning and retirement services.
Procyon, an independent registered investment advisory firm, says it manages nearly $10 billion in client assets. It also has offices in New York City, Long Island, Maryland, Michigan and Texas.
