Angeles Wealth Management Acquires XO Capital, Launches Angeles Family Office

Partnership unites institutional investment expertise, holistic estate and wealth advice and bespoke family office services to support generationally wealthy families

SANTA MONICA, Calif.--(BUSINESS WIRE)--Angeles Wealth Management (“Angeles Wealth”), a national wealth management firm serving generationally wealthy families, today announced the acquisition of XO Capital (“XO”), a boutique firm that offers comprehensive family office, business management and investment management services. This acquisition marks the launch of Angeles Wealth’s family office affiliate, Angeles Family Office (“AFO”), which combines institutional investing capabilities, wealth management expertise and a breadth of sophisticated services to create a fully integrated family office for AFO’s affluent families.

XO was founded in 2021 and built to leverage the experience of co-founders Adam Stern and Jason Oclaray, who have dedicated their work to serving the complex goals of wealthy families. Via the acquisition, Angeles Wealth is incorporating XO’s seasoned team with its own discretionary portfolio management and wealth advisory expertise. A family can now work with a single team to curate their family office, seamlessly coordinating trusted third-party tax and legal advisors while internally managing investment deal flow, customized financial reporting, cash-flow management, bill pay and other services. This allows family members to focus their time on their personal priorities.

“With AFO, we’re creating what we believe is the ‘Goldilocks’ of family office offerings – not too big, not too small but just right,” said Jonathan Foster, President and CEO of Angeles Wealth. “Families need flexibility when choosing services that fit their priorities, paired with disciplined investing that’s too often missing in the family office world. Without the resources of a true institutional investment firm and the experience and network for thoughtful estate planning, a family risks missing the very opportunities that drive lasting returns and wealth preservation across generations.”

Angeles Wealth was founded in 2011 to provide personalized wealth management services for generationally wealthy families, augmented by the institutional-quality investment solutions of its endowment and foundation advisory OCIO affiliate, Angeles Investment Advisors (“AIA”). With the launch of AFO, the firm will integrate these core strengths with XO’s family office services, creating a comprehensive in-house offering that enables AFO to address the full spectrum of a family’s wealth and personal needs. The launch follows Angeles Wealth’s recent appointment of Chief Growth Officer Jonah Cave, whose mandate includes strengthening business development and inorganic growth efforts across the firm’s private wealth and emerging family office services.

“Launching AFO is about building on a strong foundation and expanding what we can offer the families we serve,” said Oclaray, now President of AFO. “Combining the wealth management capabilities of Angeles Wealth, the institutional investment resources of AIA and XO’s family office platform creates a trifecta of high-end financial services. We’re the family’s executive office, and if they need it, we’ll make it happen with the depth of resources now at our disposal.”

Stern, now AFO’s CEO added, “Our team has collectively dedicated our careers to serving family offices. Our experience and culture at AFO is a significant advantage in serving complex families. Like XO, Angeles Wealth and AIA are employee-founded and owned, with a legacy of investing according to the principles of endowments and foundations – making AFO the perfect partner for the types of families we work with, taking a holistic view of every aspect of a family’s mission and goals.”

For more information about Angeles Wealth Management and its comprehensive, customized global investment solutions and wealth management services, please visit its website.

About Angeles Wealth Management

Angeles Wealth Management is a national, SEC-registered wealth management firm serving generationally wealthy families. Providing high-net-worth and ultra-high-net-worth families with comprehensive wealth advice and institutional-quality investment solutions typically available to large institutional investors, the firm’s private wealth clients gain access to an institutional caliber investment process and opportunity set by investing alongside its affiliate, Angeles Investment Advisors. Angeles Wealth, which oversees over $2.6 billion in assets under management (AUM) as of September 30th, 2025, works with the families it serves to understand their unique needs, including generational planning and family dynamics. Founded in 2011, Angeles Wealth has offices in Santa Monica, New York City and Houston. For more information, follow us on LinkedIn or visit our website.

About Angeles Investment Advisors

Founded in 2001, Angeles Investment Advisors is a global multi-asset investment firm, managing customized portfolios for institutional investors in the United States and for select families through its affiliate, Angeles Wealth Management. Headquartered in Santa Monica, CA, with offices in New York City and Houston, the firm oversees $7.1 billion in discretionary assets and $35.6 billion in advisory client assets as of June 30th, 2025, and is an advisor to recognized endowments, foundations and institutions.

About Angeles Family Office

Angeles Family Office is the dedicated family office affiliate of Angeles Wealth Management, serving ultra-high-net-worth families with a highly personalized approach to managing complex wealth. Built on Angeles Wealth’s core strength in delivering comprehensive wealth advice and the institutional-caliber investment process and opportunity set of its affiliate, Angeles Investment Advisors, AFO integrates bespoke family office services spanning coordination of estate planning, bill pay, cash-flow management, balance sheet reporting, philanthropy, income statement preparation and more. Through these tailored solutions, AFO partners with families to address the full spectrum of their wealth and personal needs.

Disclosures

1) Angeles Wealth Management, LLC is an investment advisor registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. All AUM figures are as of September 30th, 2025 and subject to change. More information about Angeles Wealth Management's investment advisory services can be found in its Form ADV Part 2, which is available upon request.

2) Angeles Investment Advisors, LLC is an investment advisor registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. All AUM figures are as of June 30th, 2025 and subject to change. More information about Angeles Investment Advisors' investment advisory services can be found in its Form ADV Part 2, which is available upon request.

3) Angeles Family Office, LLC is an investment advisor registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Angeles Family Office investment advisory services can be found in its Form ADV Part 2, which is available upon request.

4) Angeles Wealth, Angeles Investment Advisors, and Angeles Family Office do not provide legal or tax advice.