Procyon takes over Wooster Corthell, a registered investment advisor based in Connecticut
Connecticut-based RIA Procyon has expanded its footprint with the acquisition of Wooster Corthell Wealth Management, a Connecticut-based boutique advisory firm. This strategic move is part of Procyon's growth strategy, which focuses on selective acquisitions of boutique advisory firms that align with its client-first, holistic wealth planning philosophy.
The deal, which does not disclose the financial terms, broadens Procyon's geographical presence, now operating in Connecticut, New York City, Long Island, Tennessee, and Maryland. The combined business has 56 professionals, managing approximately $8 billion in assets.
Phil Fiore, Procyon's co-founder and CEO, expressed excitement about the acquisition, stating that Wooster Corthell shares Procyon's values, commitment to holistic family wealth planning, and adherence to fiduciary standards. He believes that the acquisition strengthens Procyon, with the addition of Wooster Corthell's decades of experience and trusted client relationships.
The acquisition supports families in managing wealth, legacy, and life transitions. Wooster Corthell CEO Matthew Corthell stated that the deal allows scaling their offering while retaining their core identity and independence. The acquisition deepens Procyon's capabilities in legacy planning, retirement strategy, and integrated family wealth services, demonstrating its emphasis on multi-generational wealth management.
Wooster Corthell continues operating from its Glastonbury office, with three advisors and five staff members moving to Procyon. The cultural alignment helps maintain client trust and service quality post-acquisition. Procyon targets firms with a commitment to fiduciary standards, strong long-term client relationships, and independence, as Wooster Corthell does.
The strategic expansion approach of Procyon is a measured, partnership-driven growth model focused on enhancing regional coverage and wealth planning sophistication through acquisitions of culturally aligned, boutique RIAs. The acquisition aligns with Procyon's strategy to build a national platform delivering institutional-quality services while preserving its "client-first" values.
Fiore also mentioned the belief in building strong, long-term relationships as a common ground between the two firms. The deal follows Constellation Wealth Capital's minority investment in Procyon, marking another step in Procyon's growth trajectory.
- Procyon's strategic move, which involves the acquisition of Wooster Corthell Wealth Management, is an extension of its growth strategy, involving selective acquisitions of boutique advisory firms that align with its client-first, holistic wealth planning philosophy.
- The combined business now managed by Procyon has 56 professionals, capable of managing approximately $8 billion in assets, as a result of this acquisition.
- The acquisition allows Wooster Corthell to scale its offering while retaining its core identity and independence, demonstrating Procyon's emphasis on multi-generational wealth management.
- Procyon's strategic expansion approach is a measured, partnership-driven growth model focused on enhancing regional coverage and wealth planning sophistication through acquisitions of culturally aligned, boutique RIAs, aligning with its strategy to build a national platform delivering institutional-quality services while preserving its "client-first" values.
