Santa Monica, CA-based Angeles Investment Advisors and Jonathan Foster – latterly president of Carson Wealth Management Group - have launched Angeles Wealth Management, an RIA focused on serving high net worth clients.

Jonathan Foster, who was also previously head of E-Trade Wealth Management, acts as president and chief executive of the new firm and will assume responsibility for directing all aspects of the firm’s development.

Angeles Wealth said it plans to grow organically, but will also hire a team of advisors.

Foster was a former client of Angeles Investment Advisors via his role on the boards of two institutional investment firms.

Angeles Investment Advisors was formed in 2001 and currently has 53 clients, with assets under advisement totalling approximately $40 billion, $1.3 billion of which are under discretionary management.