E*TRADE Advisor Services FAQs

Helpful information on the Axos announcement

Who is Axos?

Axos is an NYSE-listed (AX) financial services firm with an entrepreneurial culture and a 20-year history of technological innovation. E*TRADE Advisor Services (EAS) was a natural fit that will help accelerate their goal to better serve the RIA marketplace.

The RIA custody business has been on Axos’ strategic roadmap for the past several years, and as part of this exciting organization, EAS is well-positioned to thrive.

How does E*TRADE Advisor Services fit into the Axos business strategy?

Axos understands the value of working with a custodian that doesn’t directly compete with RIAs to offer wealth management services to end-clients. They are a truly committed partner that views RIA custody as a strategic priority for the growth of their business and a natural-fit for their technology-driven business approach.

What benefits will this merger bring to advisors and their clients?

  • Axos recognizes that the RIA channel is one of the fastest growing channels in wealth management. They plan to invest in and grow the RIA custody business. They are committed to maintaining our service-oriented approach and growing the Liberty platform to help advisors succeed.
  • With over 100 developers and expertise across a variety of technologies, Axos will help accelerate our product and systems development roadmap and implement automation and other initiatives to help make working with advisors more seamless.
  • We are excited to explore additional capabilities from Axos that may be integrated into your experience over time. At the same time, we are continuing to enhance the Liberty platform with new features to help you grow your business and serve your clients.

This is the second acquisition in less than two years, should I be concerned?

Doing the right thing for our clients is our top priority. We understand your concerns and are committed to providing the level of service, technology, and relationship management you have come to expect from us. Partnering with Axos puts us on strong footing to be able to focus clearly on the RIA custody business as we move forward.

Axos has made a few acquisitions in its 20-year history and never sold any businesses they’ve acquired. Axos sees the RIA custody business as an integral part of their long-term strategic plan.

What is the anticipated timing of this deal?

We want to move fast. We are seeking to conclude this deal in Q3-21. We will share additional details as they become available.

What does the acquisition mean for the Liberty platform?

Liberty will remain a separate and distinct technology platform. Axos does not own a competing platform, and Liberty will continue to be the RIA platform for existing and new RIA custody clients. We remain committed to investing in and enhancing the Liberty platform.

Is E*TRADE Advisor Services keeping the same name?

When the transaction officially closes, E*TRADE Advisor Services will begin to operate under a new name. We don’t anticipate many changes except replacing logos and trademarks in client-facing documents and collateral. We will share additional details as they become available.

Will my firm need to sign new contracts with Axos?

Existing contracts and service agreements will be assigned to Axos at closing—no new contracts need to be signed post-closing. We will notify you at a later point if any additional actions are required.

Will I need to repaper my client accounts?

We do not anticipate any action will be required from your clients. We will be working with Axos to define the conversion process and provide you updates early and often.

Will there be a new pricing structure?

Current pricing contracts will remain in place at close. We are in this business to grow. To do that, we must provide good value and great service to RIAs at a competitive price point.

What additional products and services will be available to help me service my clients and grow my business?

We will continue to offer the level of advanced technology and personalized service you have come to expect. At the same time, we will look for opportunities to expand capabilities to support your firm’s growth, including new broker-dealer and banking products and services.

Will my Client Service Advocate and Conversion Manager change?

No—the dedicated service team you have been working with remains the same. Once we are fully integrated with Axos, we will collaborate on process automation and other initiatives that will improve your workflows and the responsiveness of our service offering through a combination of people and technology.

How will Axos communicate with my clients?

Between now and the time the acquisition closes, EAS will continue to communicate directly with you and your clients. Once we become a part of Axos, we will communicate any changes to our existing client communications protocol.

How will my platform or experience change?

You will be able continue to manage your accounts through Liberty and work with your Client Service Advocate and Conversion Manager. We are working to define other details with Axos and will provide updates early and often.

Who should I call to resolve trading and client service issues?

You should continue to contact your Client Service Advocate and support team.

Will trading be impacted in any way?

We do not anticipate any changes in trading. If there are any modifications to the trade execution or settlement processes, we will be sure to communicate what they are well in advance of making those changes.

Where should I send my account opening forms and funding information?

You should continue to send forms and information to the same location as you do today.

What will change?

We will seek to minimize disruptions to you and your clients, but in a deal of this size there will be changes. In some cases, the changes could simplify existing processes and make them more efficient. We are committed to communicating changes far enough in advance to help you prepare.