Axos Clearing Teams Up with Envestnet for Enhanced Solutions

Axos Clearing Partners with Envestnet

Axos Clearing, a subsidiary of Axos Financial Inc. (NYSE: AX), has recently formed an exciting strategic partnership with Envestnet, a leading provider of integrated technology and wealth solutions. This collaboration promises to deliver cutting-edge managed account solutions directly into Axos Clearing's Axos Complete portal, designed specifically for hybrid broker-dealers (BDs) and registered investment advisers (RIAs). The goal is to enhance client service and streamline daily operations, making it easier for financial professionals to meet their clients' needs efficiently.

Benefits of the Partnership

David Crow, Executive Vice President and Head of Axos Clearing, expressed his enthusiasm about the partnership, stating, "Partnering with Envestnet to integrate their managed account technology into our professional workstation allows us to provide our clients with the tools and technology they need to thrive in a fee-based advisory model." This agreement marks a significant milestone in the ongoing development of Axos Complete, underscoring its role as a robust platform for advisory and operational solutions.

The incorporation of Envestnet's managed account technology is set to transform how Axos Clearing clients manage portfolios. By automating essential tasks such as rebalancing and reporting, advisors will spend less time on administrative work and more time focusing on client relationships. This will not only improve efficiency but also expand the range of investment options available to advisors.

Empowering Financial Advisors

Molly Weiss, Group President of the Wealth Management Platform for Envestnet, elaborated on the significance of the partnership, stating, "This new partnership further expands the reach of our managed account solutions. Envestnet and Axos Clearing share a commitment to enable advisors to seamlessly meet clients where they are and address the gaps that many firms face due to a lack of comprehensive solutions." This collaboration is intended to empower more advisors to serve their clients effectively and grow their practices.

The Growing Shift to Fee-Based Models

As the financial industry moves increasingly towards fee-based models, both Axos Clearing and Envestnet are aligned in their mission to provide more financial professionals with access to a comprehensive wealth management platform. This partnership not only enhances the capabilities available to advisors but also enables them to manage client relationships more efficiently. The tools provided will facilitate the evolution of how financial professionals operate in this changing landscape.

Innovative Solutions for Financial Institutions

Axos Clearing specializes in offering comprehensive clearing and custody solutions for financial institutions. Dedicated to meeting the evolving needs of broker-dealers, registered investment advisers, and other financial firms, Axos Clearing provides essential tools designed to streamline operations, reduce costs, and optimize performance. By harnessing innovative technology, Axos Clearing ensures seamless trade execution and efficient account management, which are vital in today's competitive market.

Axos Clearing empowers its clients by equipping them with the necessary compliance tools and resources that help them thrive in a dynamic financial environment. This dedication to enhancing operational efficacy sets Axos apart as a pivotal player in the financial services industry.

About Axos Financial, Inc.

Axos Financial, Inc. oversees several financial services entities, including Axos Bank, Axos Clearing LLC, and Axos Invest, Inc. With approximately $22.9 billion in consolidated assets, Axos Financial is committed to providing a range of banking products through its distribution channels and partnerships. Axos Bank offers consumer and business banking services, while Axos Clearing LLC holds approximately $35.7 billion in assets under custody or administration as part of its extensive securities clearing services.

Following the premise of enhancing financial well-being, Axos Financial strives to innovate and improve its offerings continually. With its stock listed on the NYSE under the symbol "AX," the company is also part of various financial indices, reflecting its firm position in the market.

Frequently Asked Questions

What is the main focus of the Axos Clearing and Envestnet partnership?

The partnership aims to enhance managed account solutions for hybrid broker-dealers and registered investment advisers, improving client service and operational efficiency.

How will this partnership benefit financial advisors?

By integrating advanced managed account technology, financial advisors will have access to better tools for portfolio management, automation of routine tasks, and expanded investment options.

What does Axos Clearing provide to its clients?

Axos Clearing offers comprehensive clearing and custody solutions, enabling financial institutions to optimize performance and operational efficiency.

What is the significance of fee-based advisory models in this context?

As the industry shifts towards fee-based models, the partnership positions Axos Clearing and Envestnet to support advisors in meeting the changing needs of their clients.

What services does Axos Financial, Inc. provide?

Axos Financial, Inc. provides consumer and business banking products, clearing services, and digital investment advisory services through its affiliated companies.

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