Boston-based RIA CW Advisors (CWA) has announced the acquisition of two RIAs, the Wolf Group Capital Advisors and Parsons Capital Management.

The financial details of the transactions have not been made public.

These acquisitions are said to add over $1.4bn in assets under management (AUM) to CWA.

Wolf Group Capital Advisors (WGCA), located in Fairfax, Virginia, offers wealth management services to high-net-worth individuals.

WGCA managing director Bob Len said: “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.”

Parsons Capital Management, based in New Hope, Pennsylvania, provides fee-only investment management and financial planning services.

The new office in Fairfax marks CW Advisors’ second location in Virginia, while the New Hope office enhances the firm’s presence in Pennsylvania, complementing existing offices in Bethlehem and Wynnewood.

With these acquisitions, CW Advisors now operates 17 offices nationwide and employs more than 140 staff members, managing a total of over $13bn in assets.

CWA CEO Scott Dell’Orfano said: “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.”

As an SEC-registered investment management firm, CW Advisors focuses on delivering tailored wealth solutions for high-net-worth and ultra-high-net-worth clients, including individuals, families, foundations, and endowments.

The firm aims to provide financial planning and investment consulting services designed to meet the specific needs of its clients.

In March this year, CWA acquired New Jersey-based Delta Financial Group, which was facilitated by Gladstone Group. It added $1.3bn in assets to CWA’s portfolio.