Emigrant Partners has bought a minority stake in Stratos Wealth Holdings, a family of investment advisory businesses.

Financial details of the transaction or the size of the stake were not revealed.

Referring to Stratos, Emigrant president and CEO Karl Heckenberg said: “Through a dynamic blend of organic and inorganic growth, the business has rapidly achieved scale and established itself as a market-leading RIA with immense future potential.”

With the infusion, Stratos will boost its balance sheet capital to make more investments in its business.

It intends to use the investment to enhance its capabilities for existing affiliates.

Commenting on Emigrant, Stratos founder and CEO Jeff Concepcion stated: “The talent their team brings to the table will help us elevate our offerings to our current partners and those who join the Stratos network going forward.”

Stratos Wealth Holdings include Stratos Wealth Partners, Stratos Wealth Advisors, Stratos Wealth Management, Stratos Wealth Enterprises, and Fundamentum.

Together, these companies oversee brokerage and advisory assets of $14.5bn.

Headquartered in Ohio, Stratos has 87 offices along with 300 advisers and financial planning practitioners.

Based in New York, Emigrant Partners makes non-voting minority investments in wealth as well as asset managers.

The firm is part of New York Private Bank & Trust.