New Account Application Coming August 31st

New Account Application Coming August 31st

We are excited to announce the launch of a new account application developed in response to feedback from you, our clients. This enhancement will deliver a more streamlined experience, help reduce NIGOs, make the account opening process easier, and set the stage for some features expected to roll out over the next year.
 
WHAT DO YOU NEED TO KNOW?

• Starting on 9/1/23, the updated Account Application form will be available for client use. This change will apply to all interaction methods on Liberty, DocuSign, PDF, and third-party vendors.
• The new form provides:
  • Updated formatting throughout.
  • New fields that will reduce NIGOs.
  • An e-Signature version on Liberty that provides straight-through processing.
  • The ability to collect information for two future products:
    • Limited Margin – allows for trades using unsettled funds without subjecting an account to freeride restrictions.
      • Initially, Axos Advisor Services will be soliciting indications of interest in the margin feature. The client’s consent will be stored, and when the limited margin features are enabled, the client will be notified, and the account will be converted from a Cash account to a Margin account.
    • Investor Checking – an integrated checking account that allows clients to easily transfer funds to their investment accounts.
      • Access to an Investor Checking account will be enabled as we roll out the new Advisor Client Portal.

 

• Firms will have the ability to use the former Account Application(s) until December 31, 2023.
• FAQs, guides, resources, and training opportunities will be published at launch later this month.

If you have immediate questions, please contact your CSA.