Axos Clearing, a subsidiary of US-based bank holding company Axos Financial, has partnered with Envestnet, a provider of integrated technology, data intelligence, and wealth solutions, to provide managed account solutions.
Envestnet is a financial technology company that develops and distributes wealth management software and products to financial advisors and institutions.
Under the partnership, Envestnet will integrate its managed account solutions into Axos Clearing’s Axos Complete portal.
The integration is said to empower hybrid broker-dealers (BDs) and registered investment advisers (RIAs) to enhance client service and streamline operations.
Envestnet’s managed account technology will help Axos Clearing clients simplify their portfolio management, automate routine tasks, and provide a wider range of investment options.
Also, the technology will help advisors serve clients more effectively and scale their practices.
Envestnet wealth management platform president Molly Weiss said: “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 will empower more advisors to better serve their clients and grow their practices, which is central to our mission.”
Axos Clearing said that its partnership with Envestnet would help more financial professionals have access to an advanced wealth management platform.
The clearing firm is said to deliver comprehensive clearing and custody solutions that cater to the evolving needs of financial institutions.
It empowers broker-dealers, registered investment advisers (RIAs), and other financial firms with the tools they need to streamline operations, reduce costs, and optimise performance.
Also, it leverages advanced technology to provide simplified trade execution, account management, and compliance tools, helping clients navigate a competitive market.
Axos Clearing EVP, head David Crow said: “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 is a key step as we continue developing Axos Complete, our comprehensive platform for advisory and operational solutions.”
