Wealth management firm Wooster Corthell to be purchased by Procyon for a staggering $600 million deal.
In a move aimed at delivering more value in one place, Procyon, a leading integrated planning, investment management, and tax expertise platform, has announced the acquisition of Wooster Corthell Wealth Management, a Connecticut-based firm managing approximately $600 million in client assets.
The acquisition reinforces Procyon's commitment to client-first values, holistic family wealth planning, and adherence to fiduciary standards. Both Procyon and Wooster Corthell prioritize building strong, long-term relationships, making this union a natural fit.
Phil Fiore, CEO and Co-Founder of Procyon, expressed his excitement about welcoming the Wooster Corthell team. He believes this move will further strengthen Procyon's expertise in retirement planning and customized wealth strategies.
The Glastonbury office of Wooster Corthell will continue operations, and three advisors and five staff members from Wooster Corthell will join Procyon's team. As a result, Procyon's team now consists of 63 professionals across multiple locations, including Connecticut, New York City, Long Island, Tennessee, and Maryland.
The deal enables Procyon to better assist families with wealth management and life transitions, reinforcing their commitment to client-first values. Matthew Corthell, CEO of Wooster Corthell Wealth Management, stated that Procyon shares their philosophy and enhances their ability to serve clients for generations.
Dynasty Investment Bank served as the exclusive financial advisor to Procyon on this transaction. The acquisition marks another step forward in fulfilling Procyon's promise to deliver more value in one place, and the total assets under management for Procyon are now around $8 billion.
Wooster Corthell, with its 30-year history built around deep relationships, thoughtful planning, and unwavering independence, brings a wealth of experience and knowledge to Procyon. The acquisition is expected to provide significant benefits to both companies and their clients.
The acquisition by Procyon not only enhances its northeastern presence but also underscores its dedication to making clients' lives easier by offering integrated planning, investment management, and tax expertise within a single, trusted platform.
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