By Kenneth Corbin

CW Advisors, a Boston-based registered investment advisory firm, has bought two practices in the mid-Atlantic as it looks to build out its presence on the East Coast.

The larger of the two acquisitions was Delta Financial Network, a Basking Ridge, N.J.-based RIA with $1.3 billion in assets under management. The second deal was Leathe & Associates, an RIA based in Eliot, Maine, that reported just under $123 million in AUM on its most recent Form ADV regulatory filing.

"We are excited to welcome another excellent group of professionals to our firm," says CWA CEO Scott Dell'Orfano. Both deals closed earlier this month.

With the Delta acquisition, CWA now operates six mid-Atlantic offices between the New York City area and Richmond, Va., according to Dell'Orfano. In total, it operates 15 offices around the country with more than 125 employees overseeing more than $12 billion in assets.

The firm has now completed eight deals since it sold a stake to Audax Private Equity in 2023, with more on the way, according to Dell'Orfano. "We have a full pipeline and should be closing two more transactions by the end of April," he says.

Delta is led by partners Sean Donovan and Joe Macellara and includes eight other staffers. The entire team is joining CWA. Delta primarily serves retail investors along with a handful of institutional clients.

Delta and Leathe both offer financial planning services in addition to portfolio management.

Leathe is a solo shop founded by Jeffrey Leathe in 2004.

"Jeff is a seasoned executive with a terrific group of clients," Dell'Orfano says. "Joining CWA will allow Jeff to not only expand the offering for his existing clients but to also add new clients and to continue to grow."

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March 25, 2025 13:52 ET (17:52 GMT)

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