Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC
Company Release - 10/21/2019 8:00 AM ET
Boca Raton, Florida, October 21, 2019 — Newbridge Financial, Inc. ("NFI" or the "Company") today announced that its wholly-owned broker-dealer subsidiary, Newbridge Securities Corporation ("NSC"), has entered into a 5-year Clearing Agreement with Axos Clearing LLC ("Axos Clearing"), a wholly-owned subsidiary of Axos Financial, Inc. (NYSE: AX).
NSC and Newbridge Financial Services Group, Inc. ("NFSG"), an SEC Registered Investment Advisor and also a wholly owned subsidiary of NFI, (collectively, "Newbridge") services its clients leveraging Axos Clearing’s comprehensive and technologically developing clearing platform and its commitment to harness best-in-class financial services technology.
"This expanded relationship with Axos Clearing enables Newbridge to enhance its product and service offerings and develop an integrated customer service experience by leveraging the digital platform being developed by Axos Clearing. Collectively, Axos Clearing and NSC are keenly focused on creating a seamless customer experience and a holistic personal financial management ecosystem," said Leonard Sokolow, CEO & President of Newbridge Financial, Inc. "Over time, we perceive great prospects for continued growth of our Newbridge network of financial professionals and their commission and fee-based businesses as we continue to expand the breadth of services to retail and high net worth investors, registered representatives, registered investment advisors and strategic partners."
"We see tremendous opportunities to create a comprehensive digital financial, investment management and clearing platform and industry-leading consumer banking products, as well as expand the breadth of services," said Greg Garrabrants, President and CEO of Axos Financial, Inc. "Because Newbridge shares our vision of providing a world-class digital financial and investment management platform for advisors and clients, they represent an ideal industry partner for us."
Newbridge Financial, Inc., as the holding company for Newbridge Securities Corporation (www.newbridgesecurities.com)and Newbridge Financial Services Group, Inc., provides strategic management consulting services to growth companies and explores the development of lines of business complementary to but outside of the financial services industry.
Newbridge Securities Corporation and Newbridge Financial Services Group, Inc. provides full-service securities brokerage, registered investment advisor and investment banking services to a broad-based group of individuals and corporate clients. Comprised of a committed and experienced team of financial service professionals, we seek to empower our clients to build and preserve wealth by providing superior financial services and products. Newbridge Securities Corporation is an SEC-registered broker-dealer and a member of FINRA and SIPC. Newbridge Financial Services Group, Inc. is a SEC-registered registered investment adviser.
Thomas Casolaro, CEO
Newbridge Securities Corporation
About Axos Financial and Axos Bank
Axos Financial, Inc. is the holding company for Axos Bank, a nationwide bank that provides consumer and business banking products through its low-cost distribution channels and affinity partners. With over $11.2 billion in assets, Axos Bank provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. Its wholly-owned non-bank subsidiaries, Axos Clearing LLC and Axos Invest, Inc. (formerly WiseBanyan, Inc.), provide comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents and digital investment advisory services to retail investors, respectively. Axos Clearing LLC is an SEC-registered broker-dealer and a member of FINRA and SIPC. Axos Invest, Inc. is an SEC-registered registered investment adviser. Axos Financial, Inc.’s common stock is listed on the NYSE under the symbol "AX" and is a component of the Russell 2000® Index and the S&P SmallCap 600® Index. For more information about Axos Bank, please visit www.axosbank.com.
Michael P Scaplen
Senior Vice President, Sales & Relationship Management