Procyon Adds $415M Advisory Firm in NJ Expansion

Procyon has acquired Elite Retirement Consultants, a Sparta, New Jersey-based wealth management firm, and its affiliated tax and accounting practice, Dispenziere & Associates, establishing the independent registered investment advisor’s first New Jersey office.

The transaction adds approximately $415 million in assets under management to Procyon, which now manages nearly $10 billion in client assets. Financial terms were not disclosed.

All 12 employees across the two businesses will join Procyon, including four financial advisors, a client service associate and tax staff. The Sparta, New Jersey, office will remain open. Clients will gain access to additional specialists in retirement consulting, estate planning coordination and tax planning, according to the company.

Phil Fiore, Procyon’s CEO and co-founder, said Elite’s established presence and tax capabilities complement the firm’s integrated wealth management services.

Salvatore Dispenziere III, Elite’s president and CEO, said the combination will provide advanced technology and expanded back-office support, allowing the team to offer broader services while maintaining personalized advice.

The deal follows Procyon’s acquisition of OLV Investment Group in December 2025, which added approximately $500 million in assets and extended its footprint into Michigan and Texas. Procyon also acquired Connecticut-based Wooster Corthell Wealth Management, with approximately $600 million in client assets, in July 2025.

Headquartered in Shelton, Connecticut, Procyon now manages nearly $10 billion in client assets. A member of the Dynasty Financial Partners network, it serves private clients and institutions through wealth management, retirement consulting and employee benefits services.