Boston-headquartered RIA CW Advisors (CWA) has expanded its national reach with the acquisition of Delta Financial Group.
Delta is a fee-only RIA based in Basking Ridge, New Jersey.
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The acquisition, facilitated by Gladstone Group, adds $1.3bn in assets to CWA’s books.
CWA CEO Scott Dell’Orfano said: “We are excited to welcome another excellent group of professionals to our firm.
“The Delta team brings further expertise to our organisation; enhances our greatest asset – our people; and expands our robust presence in the Mid-Atlantic region, which now includes six offices, from metro New York City to Richmond, Virginia.”
Besides, CW Advisors acquired Leathe & Associates, an RIA in Eliot, Maine established in 2004 by Jeffrey Leathe.
Financial details related to the deals, which were finalised earlier this month, were not revealed.
These deals have increased CW Advisors’ network to 15 offices nationwide, employing over 125 people and managing more than $12bn in assets.
In February this year, CWA purchased Aspire Wealth Management and Fernwood Investment Management.
Aspire in Waltham and Fernwood in Quincy, Massachusetts, cater to high-net-worth clients with financial planning and investment management services. Their acquisitions added over $800m in assets to CWA.
CWA offers wealth solutions for high-net-worth and ultra-high-net-worth individuals, families, foundations, and endowments.
The firm offers financial planning, investment consulting, and management services.
