Independent Broker-Dealers (IBDs) and Registered Investment Advisors (RIAs) are dealing with a dramatically altered fee and technology landscape.

Both scenarios have placed an added emphasis on partnership relationships especially those that support back office and tech functionality. Axos Clearing, a wholly owned sub of Axos Financial, is a full-service clearing house with nearly two decades of clearing experience servicing both IBDs and RIAs. Focusing on relationships, Axos leverages our love for technology to provide white glove service in a difficult-to-navigate environment.

Axos has become a vital component in the success of our clients. By providing more than just the tangible products found in our tech stack, we offer intangible assets like strength and stability that instill confidence to our customers. In 2020, we saw a record number of firms transition to Axos during the global pandemic. They saw the value in our brand and put their trust in Axos to help them weather the storm. It is these relationships, forged in difficult times, that form the strong bonds that drive our mutual success.

But…Changing clearing firms is complicated, right?

In theory, any switch of key infrastructure can be a formidable undertaking. In fact, some industries are rooted in the notion that change can be so overwhelming that they bank on their clients never leaving, thus allowing “service” providers to under-service their account base and keep their clients on outdated infrastructures.

Switching clearing firms can be a daunting task, but that doesn’t have to be the case. When you partner with the right team – one that prides itself on listening to clients and absorbing their concerns — the path to a smooth transition can be easily obtained. Enter Axos.

Having converted hundreds of firms over the years, our conversion team is one of the best in the industry. Axos has the tools and the personnel in place to ensure that your conversion is receiving all the attention it needs. We take the time to get to know each firm, their people, and their operational needs. We create a transition plan that is unique to your business. When done correctly this transition will update your tech offering, improve on operational efficiencies, and elevate your overall business.  

Axos is Helping IBDs and RIAs Evolve with the Times

It is not just broader society that is dependent on technology. Reps and Advisors across all demographics are learning the importance of technology as the backbone of a thriving practice.

As the next generation enters the marketplace, we are seeing a rapid change across clearing. Having grown up on technology, they are fueled by innovation, bringing with them a drive and a know-how of tech that they have been deploying daily since they could crawl. These new ideas are forcing the industry to adopt a more tech-centric marketplace underscoring the need for reliable, tech-savvy partners like Axos.

At Axos Clearing, the evolution of clearinghouse technology began in earnest two years ago with the acquisition by Axos Financial. From there, a strategy was laid out not just to keep up with the technological advancements, but to keep two steps ahead it. We are always looking for ways to use tech to better serve our clients, including much-needed face time via web demos, and a virtual team that offers personal touch until we can safely meet face to face.  

Updating our infrastructure, we continue to seek out advancements on technology, reviewing the landscape, modeling business lines, and running gap analysis to set a clear strategy that keeps pace with this evolution.

Lately we have seen consolidation as well as our competition exiting various lines of business. As the world and the financial service industries begin to shake off the effects of COVID-19, Axos remains committed to our clients and to the industry. We are in it for the long haul and will continue to deliver a holistic digital offering led by a relationship-based service that is steeped in cutting-edge technology.