RIA moves: Savant enters Thousand Oaks as Procyon lands in New Jersey

Procyon Partners and Savant Wealth Management have expanded their respective footprints on opposite sides of the US, with Procyon making its debut in New Jersey while Savant added a fifth location in California.

Procyon, the Shelton, Connecticut-based registered investment advisor (RIA) with nearly $10 billion in client assets, said it had bought Elite Retirement Consultants, a Sparta, New Jersey, wealth manager with approximately $415 million in assets under management.

Meanwhile, Illinois-based Savant said it had sealed a partnership with Cedarstone Advisors, a Thousand Oaks, California, practice overseeing approximately $213 million.

The deals arrive as the broader RIA M&A market shows early signs of cooling after a record first half. Echelon Partners counted 120 announced transactions in the second quarter, marking the most active Q2 on record while putting a record 500-deal year in 2026 within sight.

But a separate count by Devoe & Company tracked 72 RIA transactions in the third quarter though September 22, which was down 19% from the same stretch last year.

Procyon folds a tax practice into its first New Jersey office

Aside from planting a stake in New Jersey, Procyon's acquisition of ERC also brings over Dispenziere & Associates, ERC's affiliated tax and accounting firm.

All 12 employees across the two businesses are moving to Procyon – which operates within the Dynasty Financial Partners network – including four financial advisors, a client service associate and the tax staff. The Sparta office will stay open.

Salvatore Dispenziere III, ERC's president and CEO, said the deal gives his team more operational support. "This partnership gives our team access to advanced technology infrastructure and scalable back-office support, so we can stay focused on delivering personalized advice while offering an even broader range of integrated financial solutions," he said.

Phil Fiore, Procyon's CEO and co-founder, cited culture as the draw. "We were drawn to ERC's established presence, shared fiduciary values, and deep commitment to building lasting client relationships," he said.

New Jersey joins a Procyon footprint that already includes offices in New York City, Long Island, Maryland, Michigan and Texas.

The firm has been growing its geographic footprint since securing a strategic minority investment from Constellation Wealth Capital last year.

Savant adds a retiree-focused practice in Southern California

Cedarstone was founded in 2014 and specializes in comprehensive financial planning for retirees and families across Southern California, Savant said in announcing its latest acquisition this week. 

President Steve Coker, a certified financial planner, joins Savant as a member-owner. Senior financial advisor Carole Meitler, a CPA, and operations manager Walter Cifuentes join as employees. All three will keep serving clients from Thousand Oaks.

Brent Brodeski, Savant's founder and CEO, said the firm targets advisors with a defined specialty. "Their specialization of serving retirees aligns well with Savant's desire to find firms with focused practices," he said.

Coker said scale was the deciding factor. "As we looked toward the future, it became clear that partnering with a larger organization would allow us to spend more time focused on clients and less time building and managing infrastructure," he said.

Fidelity's most recent report on RIA M&A released over the summer ranked Savant as the most active buyer during the first half of 2026. A separate tally by Echelon credited Savant with four deals totaling $779 million in acquired assets during the second quarter.

Savant now operates nearly 75 offices in 28 states. As of Sept. 30, it reported approximately $56.6 billion in assets under management and $2.2 billion in assets under advisement.