Connecticut-based registered investment advisor Procyon Partners, has acquired OLV Investment Group, which oversees about $500 million in assets under management.  

Michigan-based OLV Investment Group, founded in 2017, has offices in Michigan, Rochester and Texas, and expands the RIA’s presence into the Midwest and South, Procyon said. 

The acquisition marks Procyon’s largest to date, boosting Procyon’s total assets to about $9 billion and brings its total headcount to about 80 employees, a company spokesperson confirmed to Connect Money. 

OLV Investment Group is led by principals Tim Tenneriello, Joel LaGore and Jesse VanValin. The team includes seven new advisors and 13 employees. The team was supported by AE Financial Services, an independent broker-dealer. 

Following the acquisition, OLV will continue to offer financial advice while benefiting from Procyon’s resources including technology, and back-office support. 

“Our goal has always been to build a firm that delivers comprehensive solutions through a team-based, client-first approach,” Phil Fiore, CEO of Procyon, said. “By joining forces with OLV, we are extending the reach of our platform to new regions and clients with evolving financial needs.” 

In July, Procyon Partners acquired Glastonbury, CT-based Wooster Corthell Wealth Management, which manages $600 million in client assets, bolstering the firm’s presence in the Northeast region. 

In April, private equity shop Constellation Wealth Capital made a minority investment in Procyon, in an effort to scale operations, enhance its financial advisor resources, and expand its geographic presence. 

Procyon Partners, backed by Dynasty Financial Partners, oversees approximately $7.7 billion in client assets for 5,638 accounts, according to its latest Form ADV, updated in November.