Procyon Partners, an RIA managing $7 billion in client assets as part of the Dynasty Financial network, is looking to bolster its growth efforts with a new leadership appointment.
On Monday, the firm announced the hiring of Rich Franchella as senior vice president of business development, a newly created role aimed at driving growth across its private-client and institutional business lines.
Based in Fulton, Maryland, Franchella will oversee recruitment efforts for top firms and advisors across sectors including private wealth, institutional consulting, and employee benefits.
Aside from helping companies design, manage, and enhance their retirement and health plan offerings while educating plan participants, Procyon helps high-net-worth individuals, families and business owners with investment management and achieving their financial goals.
“Rich has been a trusted colleague for the better part of my career,” Phil Fiore, Procyon’s CEO, co-founder, and partner said in a statement Monday. “His leadership and strategic insight will play an instrumental role in scaling our business and continuing to attract exceptional talent across all our verticals.”
A veteran of the industry, Franchella built up a lengthy 37-year career in financial services, with early positions at Merrill Lynch and PaineWebber according to his BrokerCheck profile. More recently before joining Procyon, he also held roles at RBC, LPL, and Wedbush Securities.
Franchella will report to chief revenue officer Harry Kirkpatrick, aligning his efforts with the firm’s broader strategy to expand its capabilities and geographic presence. Employing more than 50 professionals, the firm currently has footholds in Manhattan; Shelton, Connecticut; Melville, New York; Fulton, Maryland; and Virginia Beach, Virginia.
“Procyon Partners’ rapid growth and commitment to innovation make it an ideal platform for driving meaningful impact and fostering success,” said Franchella. “By connecting top advisors and firms with Procyon’s state-of-the-art platform, fostering long-term relationships that will fuel our shared success.”
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