Summit Financial has purchased a minority stake in Miami-based RIA Kandor Global through Summit Growth Partners (SGP) for an unknown sum.

Kandor Global offers investment advisory solutions, customised reporting, and complex estate planning for UHNW global clients.

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It focuses on serving Latin American entrepreneurs and families living in their home country or domiciled in the US.

The deal will give Kandor Global access to Summit’s growth capital as well as its platform of financial, estate, and tax planning resources.

Commenting on the deal, Summit Financial CEO Stan Gregor said: “With all the disruption that has taken place in the international wealth management space, we’ve been looking for the right firm to invest in and partner with that could deliver a truly differentiated and customised suite of services and solutions to advisors who cater to international clients.

“We were very impressed with Kandor Global’s leadership team and are excited about our partnership.”

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Kandor Global CEO Guillermo Vernet added: “Our mission in establishing Kandor Global is to be a key wealth and investment management resource for the Latin American community at home and here in the U.S.

“We have the experience and resources through Summit Growth Partners to serve this specific subset of clients at the highest level and address their unique financial needs.”

SGP, established by Summit and Merchant Investment Management, is a new custom capital solution that comprises upfront cash monetisation, equity participation and partnership privileges.

The latest deal marks SGP’s 13th investment and its first investment towards servicing international customers.

Last August, Summit joined forces with ESG investment platform Seeds, which offers customised sustainable investment solutions to clients.