Michael Watson, Head of RIA Custody for Axos Advisor Services, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss enhancing advisor success through banking services and practice management consulting.
Starting twenty years ago, more advisors started leading the client conversation with financial planning services and downplaying the differentiation of their investment products. Artificial intelligence and machine learning are likely to continue this trend.
Axos provides integrated banking and advisory services. Advisors provide the wealth management solution, as Axos doesn’t offer wealth management services. By working with Axos, advisors can offer their clients deposit, lending, and brokerage solutions. As part of a digital bank, Axos works to mitigate expenses. The platform allows check deposits, withdrawals, and address changes digitally without the advisor needing to call the bank.
Axos provides advisors with data on clients’ financial activity to deepen client conversations. Axos also offers practice management consulting to advisors to help them grow their businesses. Axos views advisor success as their own success.
Resources: