New York-headquartered Asset Alliance Corporation has acquired an equity interest in Monarch Business and Wealth Management, a financial and life management business for entertainers, athletes and wealthy families, for an undisclosed sum.

Working with Asset Alliance, Monarch will continue to offer a range of family office services, integrated with Asset’s wealth management system. Monarch will also seek to expand its business through partnerships with and acquisitions of complementary businesses, the firms said in a statement.

Monarch was founded by Barry Klarberg, recently a senior managing director at Guggenheim Partners, where he headed up the New York wealth services office.

Asset Alliance is a privately-held firm that invests in diversified alternative asset management firms and provides investment products and services to institutions and high-net-worth individuals.