As smaller rivals keep quiet, Axos opens up on custody fees
Axos Advisor Services, a unit of publicly traded Axos Financial, disclosed its custody fees and business model, unlike rivals Hilltop Securities and Innovayte. Axos' custody assets grew to $47.8B with 300 clients, up from $23B in 2020. Hilltop's custody unit reported $124M in Q2 revenue. Axos faces a $49.4M arbitration award related to a defunct brokerage.


