SAN DIEGO--(BUSINESS WIRE)--Axos Financial, Inc. (NYSE: AX) (“Axos” or the "Company”) announced that its subsidiary, Axos Securities, LLC, has signed a definitive agreement to acquire certain assets of WiseBanyan Holding, Inc. and its subsidiaries (“WiseBanyan”). Pending regulatory approval and other customary closing conditions, Axos expects the acquisition to have an immaterial impact on its financial results and close in the fourth quarter of calendar 2018. Axos will fund the all-cash transaction with existing capital.

Headquartered in Las Vegas, Nevada, WiseBanyan is a leading provider of personal financial and investment management services through a proprietary technology platform. Established in 2013 with the goal of providing the tools and education for clients to reach their financial goals, regardless of their starting point, WiseBanyan provides an intuitive and user-friendly technology platform for individuals to manage their finances and create custom investment portfolios tailored to meet their life goals. As one of the first “robo advisors” offering comprehensive digital financial and investment management services free of charge with no minimum balance requirements, WiseBanyan currently serves approximately 24,000 clients with $150 million of assets under management (“AUM”).

“We are very excited to welcome the WiseBanyan team and clients to Axos,” stated Greg Garrabrants, President and Chief Executive Officer of Axos Financial, Inc. “The addition of a state-of-the-art digital wealth management platform with over 24,000 existing customers provides us with an integral piece to our long-term vision of offering a comprehensive set of tailored financial products and services to our clients. It also adds a new, low-cost distribution channel for us to acquire and retain deposit and lending customers. With our strong capital and commitment to expand WiseBanyan’s free and premium products and features, we will strive to create a differentiated and compelling value proposition for individuals looking to simplify their personal financial management.”

A presentation with more details regarding the transaction is available on the Axos website at http://investors.axosfinancial.com.

About Axos Financial, Inc.

Axos Financial, Inc. is the holding company for Axos Bank, a nationwide bank that provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. With nearly $10 billion in assets, Axos Bank provides consumer and business banking products through its low-cost distribution channels and affinity partners. 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 https://www.axosbank.com.

About WiseBanyan Holding, Inc.

Launched in 2013 with the mission to ensure everyone can reach their financial goals, WiseBanyan is the world’s first free financial advisor. By having no minimum requirements to start and not earning money based off its clients' account values, WiseBanyan empowers its clients to start earlier, provide the best advice after they do, and keep the Company’s interests fully aligned with their clients as they progress. More information is available at https://www.wisebanyan.com.

Forward-Looking Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including without limitation statements relating to the execution and closing of the definitive purchase and assumption transaction between Axos Financial’s subsidiary and WiseBanyan Holdings Inc., projections of Axos Financial’s performance and earnings per share resulting from the transaction. These forward-looking statements are made on the basis of the views and assumptions of management regarding future events and performance as of the date of this press release. Actual results and the timing of events could differ materially from those expressed or implied in such forward-looking statements as a result of risks and uncertainties, including without limitation changes in interest rates, inflation, government regulation, general economic conditions, conditions in the real estate markets in which we operate and other factors beyond our control. These and other risks and uncertainties detailed in Axos Financial’s periodic reports filed with the Securities and Exchange Commission could cause actual results to differ materially from those expressed or implied in any forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Axos Financial undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.