ETRADE Advisor Services
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Dear Valued Client,

I would like to take a moment to introduce Axos and provide you with an update regarding our planned acquisition of E*TRADE Advisor Services. We are working diligently with the team to complete the necessary operational and regulatory requirements to close the transaction. I look forward to meeting each of you in the coming months – either virtually or in person – to hear from you and share our strategic vision.

For those of you who are not familiar with our firm, Axos is a digital-first financial services company listed on the NYSE, with a market cap of approximately $3 billion and over $14 billion of assets at our bank and, after the close of the acquisition, over $38 billion of clearing and custody assets at our broker-dealer subsidiaries. Axos Bank, our digital consumer and commercial bank, and Axos Securities, our securities clearing and custody firm, are the two primary businesses we operate on a nationwide basis. We see abundant opportunities to integrate the expertise, product offerings and technology platforms of Axos and E*TRADE Advisor Services to deliver incremental value to advisors and your investor clients.

We will be providing more details after the close, but, here are a few things that I can confidently say:

  • We will continue to support and invest in the Liberty platform.
  • You will continue to receive the same high level of support from your existing dedicated service team.
  • Centennial will remain the headquarters for the RIA custody business.
  • We have no advisors and will not compete with you in asset or wealth management.
  • We will do everything we can to make the transition as seamless as possible for your team and your clients.
  • Axos and E*TRADE Advisor Services will provide ongoing updates on our transaction before and after the transaction closes.
The RIA custody business is a pivotal part of our long-term strategic plan, and E*TRADE Advisor Services will become an integral part of Axos the day the deal closes. Despite the growth in our assets, businesses and headcount, we strive to maintain an entrepreneurial, merit-based culture where talented, motivated team members can grow and thrive.

I value the relationships the team members have built with you and welcome the opportunity to further expand the product and technology capabilities that will benefit you

Best,
Greg Garrabrants, President and CEO, Axos Financial, Inc.

 
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The E*TRADE Financial Corporation family of companies provides financial services, including trading, investing, investment advisory, RIA custody and banking products and services.

E*TRADE, E*TRADE Advisor Services, the E*TRADE Advisor Services logo, Liberty and EAS Connect are registered trademarks of E*TRADE Financial Corporation. All other trademarks mentioned herein are the property of their respective owners. Products and service offerings are subject to change without notice.

E*TRADE Savings Bank and its affiliates ("E*TRADE") do not warrant these products, services, and publications against different interpretations or subsequent changes of law, regulations and rulings. E*TRADE does not provide legal, accounting, or tax advice. Always consult your own legal, accounting, and tax advisors.

Securities products and services available through EAS Connect are offered by E*TRADE Securities LLC, Member FINRA/SIPC.

E*TRADE Savings Bank, doing business as "E*TRADE Advisor Services," and E*TRADE Securities LLC are separate but affiliated subsidiaries of E*TRADE Financial Corporation.

Securities, investment advisory, commodity futures, options on futures and other non-deposit investment products and services are not insured by the FDIC, are not deposits or obligations of, or guaranteed by, E*TRADE Bank or E*TRADE Savings Bank, and are subject to investment risk, including possible loss of the principal amount invested.

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