Angeles Wealth Management announced it has acquired XO Capital, a boutique firm focused on family office, business management and investment management services, and will use the combination to launch a new family office affiliate, Angeles Family Office.
The Santa Monica-based wealth manager said the new platform is designed to bring together institutional-style investing capabilities, holistic wealth and estate planning coordination, and day-to-day family office execution for ultra-high-net-worth clients. Financial terms of the transaction were not disclosed.
XO, founded in 2021 by Adam Stern and Jason Oclaray, will be integrated into Angeles Wealth’s broader advisory and discretionary portfolio management capabilities. The combined offering is intended to give families a single point of coordination across investment deal flow, customized reporting, cash-flow management, bill pay and related administrative services, while also working alongside third-party tax and legal advisors.
Angeles Wealth said the launch builds on its existing relationship with Angeles Investment Advisors, its endowment and foundation advisory and OCIO affiliate, and is aimed at delivering a more fully integrated in-house solution for families with complex balance sheets and multigenerational planning needs.
As part of the leadership structure, Oclaray was named president of Angeles Family Office and Stern was named CEO. Angeles Wealth also pointed to the recent appointment of Jonah Cave as chief growth officer, with a mandate that includes strengthening business development and inorganic growth efforts tied to its private wealth business and newly launched family office services.
Angeles Wealth reported more than $2.6 billion in assets under management as of Sept. 30, 2025. Angeles Investment Advisors reported $7.1 billion in discretionary assets and $35.6 billion in advisory client assets as of June 30, 2025. The firms have offices in Santa Monica, New York City and Houston.
KEY QUOTES:
“With AFO, we’re creating what we believe is the ‘Goldilocks’ of family office offerings – not too big, not too small but just right. Families need flexibility when choosing services that fit their priorities, paired with disciplined investing that’s too often missing in the family office world.”
Jonathan Foster, President and CEO, Angeles Wealth Management
“Launching AFO is about building on a strong foundation and expanding what we can offer the families we serve. 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.”
Jason Oclaray, President, Angeles Family Office
“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.”
Adam Stern, CEO, Angeles Family Office
