Angeles Wealth Management, a registered investment advisor with about $2.4 billion in assets, announced the firm has recruited financial advisor Cameron Rogers, formerly with Ellevest, to join the firm as a partner in New York.
Rogers previously managed $240 million at Ellevest. Prior to Ellevest, she was at J.P. Morgan for nearly a decade in the firm’s institutional investment and private banking businesses.
Ellevest, the technology platform founded by long-time wealth management industry leader Sallie Krawcheck in 2014, fostered a community of professionally ambitious women and, in wealth management, primarily served female clients. Earlier this year the firm sold its automated investing business to Betterment, the digital-first advice and investment platform. The sale did not include Ellevest’s wealth management and financial planning businesses.
Rogers said Angeles Wealth Management shared a similar commitment to diversity in its leadership team and an awareness of the unique needs of female clients.
“As a woman in the wealth management industry, it’s important for me to be part of a firm that not only values diversity as part of its leadership and advisory team, but also believes in the power of educating and empowering women in their financial lives,” she said in a statement.
Angeles Wealth Management was founded in 2011 by Jonathan Foster, who, at the time, was on the board of a non-profit organization that worked with Angeles Investment Advisors, an institutional investment firm. Foster saw an opportunity to bring the firm’s “outsourced chief investment officer” approach to individual clients and families, including access to private investments.
“I was so impressed with the process (at Angeles Investment Advisors) that I said, ‘Let’s start a business together around wealth management,’ my theory being that high-net-worth and ultra-high-net-worth families who were flying in the front of the plane—yet their portfolios were sitting in coach at a wirehouse a lot of times,” Foster said. “So the idea was to build a wealth management business where anything we build for a $1 billion non-profit is available to families at the same terms.”
Today, Angeles Wealth serves 110 families with investible assets ranging from $10 million to $100 million, bridging the gap between boutique advisory services and full-scale family offices. It has 16 staff members across three offices in Santa Monica, Calif., Houston and New York. In the last eight years, the RIA has grown from $240 million in assets in 2017 to $2.4 billion today.
Foster says Angeles Investment Advisors has an intentional commitment to diversity and inclusion inside the organization. Female leaders at the firm include Chloe Wohlforth, who was promoted to partner in 2023, and Ann Deaton, who came on board in 2022 as a senior managing director.
“The future is not about the great wealth transfer from the greatest generation, which are like my parents’ age or me as a baby boomer to our kids, it’s the horizontal wealth transfer … because women outlive men,” Foster said. “The industry is brain-dead about this. How you deal with it is to get great, experienced women advisors.”
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