CW Advisors – a registered investment advisor (RIA) based in Boston – announced it has acquired Wolf Group Capital Advisors (WGCA) and Parsons Capital Management. WGCA, an RIA based in Fairfax, Virginia, provides comprehensive wealth management to high-net-worth clients. Parsons, a fee-only RIA providing investment management and financial planning, is located in New Hope, Pennsylvania. The deals add more than $1.4 billion in assets under management (AUM) to CWA.
Following the acquisitions, CWA has 17 offices nationwide, over 140 employees, and more than $13 billion in AUM. And the Fairfax location becomes the second CWA office in Virginia and the New Hope office adds to CWA’s presence in Pennsylvania, joining the Bethlehem and Wynnewood locations.
The terms of the deal were undisclosed.
KEY QUOTES:
“We are thrilled to welcome two more exceptional teams and their talents to CW Advisors. The team from Wolf Group is a terrific group of seasoned professionals and brings a deep expertise in tax planning to CWA. They will be a tremendous resource. The Parsons team, another outstanding addition, will be integral to our ongoing focus on organic growth.”
CWA Chief Executive Officer Scott Dell’Orfano
“We are looking forward to being a part of CWA. The joining of our teams enables us to provide an expanded offering and to leverage the platform to continue to deliver exceptional client service.”
Bob Len, CPA, Managing Director of WGCA
“We have enjoyed working with the CWA team during the integration and are impressed with the ‘people first’ culture at CWA. We are excited to be a part of the CWA team.”
Charles Verruggio, WGCA’s Managing Director, CIO
“Our clients will only benefit from the resources CWA provides. CWA’s clear focus on the client experience aligns well with our historic value proposition. We will work together to continue to provide exceptional service.”
Parsons Capital Management President Russell Parsons, CFP, ChFC
