Axos Clearing Partners with Envestnet to Deliver Managed Account Solutions
November 01 2024 - 5:13PM
Business Wire
The partnership will enhance client service and
streamline operations for hybrid firms and their advisors
Axos Clearing, a subsidiary of Axos Financial Inc. (NYSE: AX)
and a leading clearing firm that combines innovative technology
with personalized service, today announced a strategic partnership
with Envestnet, a provider of integrated technology, data
intelligence, and wealth solutions. The partnership will integrate
Envestnet’s managed account solutions into Axos Clearing’s Axos
Complete portal, empowering hybrid broker-dealers (BDs) and
registered investment advisers (RIAs) to enhance client service and
streamline operations.
"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," said David Crow, EVP, Head of Axos
Clearing. "This is a key step as we continue developing Axos
Complete, our comprehensive platform for advisory and operational
solutions.”
Envestnet’s managed account technology will enable Axos Clearing
clients to streamline portfolio management, automate routine tasks
like rebalancing and reporting, and offer a wider range of
investment options, helping advisors serve clients more effectively
and scale their practices.
“This new partnership further expands the reach of our managed
account solutions," said Molly Weiss, Group President of Wealth
Management Platform for Envestnet. "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 will empower
more advisors to better serve their clients and grow their
practices, which is central to our mission."
As the industry continues to move toward fee-based models and
investors increasingly favor advisory relationships, Axos Clearing
and Envestnet’s partnership ensures that more financial
professionals will have access to an industry leading wealth
management platform, helping them manage client relationships more
effectively and efficiently.
Axos Clearing delivers comprehensive clearing and custody
solutions that cater to the evolving needs of financial
institutions. Axos Clearing empowers broker-dealers, registered
investment advisers (RIAs), and other financial firms with the
tools they need to streamline operations, reduce costs, and
optimize performance. By leveraging innovative technology, Axos
provides seamless trade execution, efficient account management,
and compliance tools, helping clients thrive in an increasingly
competitive market.
About Axos
Axos Financial, Inc., with approximately $22.9 billion in
consolidated assets as of June 30, 2024, is the holding company for
Axos Bank, Axos Clearing LLC and Axos Invest, Inc. Axos Bank
provides consumer and business banking products nationwide through
its low-cost distribution channels and affinity partners. Axos
Clearing LLC (including its business division Axos Advisor
Services), with approximately $35.7 billion of assets under custody
and/or administration as of June 30, 2024, and Axos Invest, Inc.,
provide comprehensive securities clearing services to introducing
broker-dealers and registered investment adviser correspondents,
and digital investment advisory services to retail investors,
respectively. Axos Financial, Inc.’s common stock is listed on the
NYSE under the symbol “AX,” and is a component of the Russell 2000®
Index, the S&P SmallCap 600® Index, the KBW Nasdaq Financial
Technology Index, and the Travillian Tech-Forward Bank Index. For
more information regarding Axos Bank, please visit
http://www.axosbank.com.
Axos Financial, Inc. and Envestnet are separate and unaffiliated
firms. This material should not be construed as a recommendation or
endorsement of any particular product, service, individual or
firm.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241101696471/en/
Media Contact: For Axos Clearing:
axosclearing@greenrosepr.com For Envestnet:
envestnetpr@jconnelly.com
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