CW Advisors Expands East Coast Presence with Two Strategic Deals 

CW Advisors, LLC (CWA), a Boston-headquartered registered investment advisor, has acquired Delta Financial Group, Inc., a fee-only RIA based in Basking Ridge, NJ, managing $1.3 billion in assets, making it CWA’s largest acquisition of 2025. Alongside Delta, CWA snapped up Leathe & Associates, an RIA in Eliot, ME, with $122 million in AUM, according to its most recent Form ADV, founded by Jeffrey Leathe in 2004. 

Terms for both deals, closed earlier this month, remain undisclosed. 

Delta, founded in 1991, brings a nine-person team led by partners Sean Donovan and Joe Macellara. Delta predominantly caters to retail investors, complemented by a small group of institutional clients. 

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

CWA now has 15 offices across the country, over 125 employees, and more than $12 billion of assets under management. In February, the firm, which is backed by Audax Private Equity, announced the acquisition of Aspire Wealth Management, Inc. and Fernwood Investment Management, LLC, two Massachusetts-based firms with more than $800 million in assets under management. 

Gladstone Group Inc. facilitated the transaction with Delta.