Sanctuary Wealth has made a strategic investment in the Los Angeles-based multi-family office and advisory firm InnoVise Family Wealth Advisors.

The move also provided Sanctuary with a stake in the company. Financial terms of the deal and the size of the stake were not disclosed.

This strategic investment will support the launch of Sanctuary’s latest offering- Sanctuary Global Family Office.

Sanctuary Wealth CEO Jim Dickson said: “InnoVise has rapidly become a highly successful multi-family office and like Sanctuary Wealth, they are positioned for continued dynamic growth.

“Our investment allows the launch of Sanctuary Global Family Office, which will be led by InnoVise’s Brian Weiner, and will provide the advisors in our network with a wide range of family office services.”

InnoVise Family Wealth Advisors, formerly known as Audent Family Wealth Advisors, specialises in family office consultancy, and business sale pre-event planning.

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The firm is led by managing partner Brian Weiner and co-founder and partner Michael Winn.

Commenting on the development, Weiner said: “While InnoVise will continue to operate independently, we will also be providing important family office services to the rest of the Sanctuary network, affording tremendous growth opportunities to all parties involved.”

Winn added: “As a member of Sanctuary’s network, we will be able to help them prepare their clients for likely income tax and estate transfer changes over the next few years.”

The latest development follows Sanctuary’s recent expansions into international family office services, including the opening of the Miami office and increased focus on serving the Latin American markets.