Angeles Wealth Management has acquired boutique advisory firm XO Capital, marking the formal launch of its family office affiliate, Angeles Family Office (AFO), as the firm deepens its focus on complex, multigenerational wealth. 

Founded in 2021 by Adam Stern and Jason Oclaray, XO Capital specializes in family office advisory, business management, and investment oversight. Through the transaction, Angeles Wealth—now overseeing more than $2.6 billion in assets—integrates XO’s experienced team with its own discretionary portfolio management and wealth advisory capabilities. 

The new structure is designed to offer families a single, coordinated platform for managing both investments and day-to-day financial complexity. Clients can access customized reporting, cash-flow oversight, bill pay, and investment deal execution, while maintaining seamless coordination with external tax and legal advisors. 

“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. 

Santa Monica-based Angeles Wealth was founded in 2011 to serve generationally wealthy families and is complemented by its OCIO affiliate, Angeles Investment Advisors, which delivers institutional-grade investment solutions to endowments and foundations. 

The family office expansion follows the firm’s recent appointment of Jonah Cave as chief growth officer, charged with accelerating business development and inorganic growth across private wealth and family office offerings. 

“Our team has collectively dedicated our careers to serving family offices,” said Stern, who will serve as CEO of Angeles Family Office. “Our experience and culture at AFO is a significant advantage in serving complex families.”