Wealth management firm Wooster Corthell being purchased for $600 million by Procyon

Procyon, a leading wealth management firm, has announced the acquisition of Wooster Corthell Wealth Management, a Connecticut-based firm managing approximately $600 million in client assets. This acquisition strengthens Procyon's expertise in retirement planning and customized wealth strategies, and is another step forward in Procyon's goal of delivering integrated planning, investment management, and tax expertise within a single, trusted platform.

The Glastonbury office of Wooster Corthell will continue operations, with three advisors and five staff members joining Procyon's team. These professionals bring decades of experience and trusted client relationships into the Procyon family.

"We are excited to welcome the Wooster Corthell team to Procyon," said Phil Fiore, CEO and Co-Founder of Procyon. "Their deep relationships, thoughtful planning, and unwavering independence align perfectly with our client-first values."

Matthew Corthell, CEO of Wooster Corthell Wealth Management, echoed Fiore's sentiments, stating that Procyon shares their philosophy and enhances their ability to serve clients for generations. "We believe that Procyon's comprehensive approach to wealth management will provide our clients with even more resources and expertise to navigate life's transitions," he added.

Both Procyon and Wooster Corthell Wealth Management share a commitment to holistic family wealth planning, adherence to fiduciary standards, and a belief in building strong, long-term relationships. Procyon upholds these values in all its operations, and the acquisition further enhances its ability to assist families with wealth management and life transitions.

The acquisition enables Procyon to expand its northeastern presence, and its team now consists of 59 professionals across various locations, including Connecticut, New York City, Long Island, Tennessee, and Maryland. The total assets under management for Procyon are now around $8 billion.

Dynasty Investment Bank served as the exclusive financial advisor to Procyon on this transaction. "We are proud to have advised Procyon on this strategic acquisition," said a spokesperson from Dynasty Investment Bank. "This deal underscores Procyon's commitment to growth and its leadership position in the wealth management industry."

With this acquisition, Procyon continues to solidify its position as a trusted partner for families seeking comprehensive wealth management solutions. The firm looks forward to serving its expanded client base and helping them achieve their financial goals.