Two registered investment advisors have extended their geographic reach in separate transactions on opposite coasts, adding a combined $628 million in client assets. Procyon Partners, based in Shelton, Connecticut, has completed its acquisition of Elite Retirement Consultants (ERC), a Sparta, New Jersey firm managing approximately $415 million. Meanwhile, Savant Wealth Management, headquartered in Rockford, Illinois, has finalized a partnership with Cedarstone Advisors, a Thousand Oaks, California practice overseeing roughly $213 million.
The deals come as the broader RIA merger-and-acquisition market shows early signs of cooling after a record-breaking first half. Echelon Partners counted 120 announced transactions in the second quarter, the most active Q2 on record, and projected a record 500 deals for 2026. However, a separate tally by Devoe & Company tracked 72 RIA transactions in the third quarter through September 22, a 19% decline from the same period last year.
Procyon's First New Jersey Office
Procyon's acquisition of ERC marks its entry into New Jersey and also brings over Dispenziere & Associates, ERC's affiliated tax and accounting firm. All 12 employees from the two businesses, including four financial advisors, a client service associate, and tax staff, will join Procyon, which operates within the Dynasty Financial Partners network. The Sparta office will remain open, preserving the firm's local presence.
Salvatore Dispenziere III, ERC's president and CEO, emphasized the operational benefits of the deal. "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 cultural alignment as a key factor. "We were drawn to ERC's established presence, shared fiduciary values, and deep commitment to building lasting client relationships," he noted.
New Jersey joins Procyon's existing footprint, which includes offices in New York City, Long Island, Maryland, Michigan, and Texas. The firm has been actively expanding since securing a strategic minority investment from Constellation Wealth Capital last year.
Savant Adds Retiree-Focused Practice
Cedarstone Advisors, founded in 2014, specializes in comprehensive financial planning for retirees and families across Southern California. As part of the partnership, 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 continue serving clients from their Thousand Oaks office.
Brent Brodeski, Savant's founder and CEO, said the firm targets advisors with defined specialties. "Their specialization of serving retirees aligns well with Savant's desire to find firms with focused practices," he said. Coker cited scale as 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 explained.
Savant has been an active acquirer. 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. Echelon credited Savant with four deals totaling $779 million in acquired assets during the second quarter. The firm's recent moves also include rebranding its tax unit and adding two firms.
The broader RIA landscape continues to see significant movement, with wirehouse recruiting activity also showing strength. As firms like Procyon and Savant pursue strategic acquisitions, the market remains dynamic despite mixed signals on overall deal volume.
