Axos Clearing Teams with Envestnet for Managed Accounts

Axos Clearing, a clearing firm and subsidiary of Axos Financial Inc., announced a strategic partnership with Envestnet, a registered investment advisor wealthtech platform.

Under the partnership, Envestnet’s managed account technology will be integrated into Axos Clearing’s Axos Complete portal, which will enable hybrid broker-dealers and registered investment advisers to enhance customer service by streamlining portfolio management, automating rebalancing and reporting, and offer a broader range of investment options.

“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 new partnership further expands the reach of our managed account solutions,” added Molly Weiss, group president of wealth management platform for Envestnet.

Envestnet’s platform includes products from BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors.

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 Clearing LLC (including its business division Axos Advisor Services), had approximately $35.7 billion of assets under custody and/or administration as of June 30.