When deciding on opening a financial account with any firm, credibility is often of importance. Ultimately, credibility can often be found in trust signals that are linked to government-regulated memberships and a fintech’s partner network, like with Save.
As an SEC-regulated firm, we are required to abide by specific standards to ensure customers can access all of the information they may want to know about our business, but sometimes it’s hard to sort out the most critical information as a customer. To help, we’ve compiled what we think are some of the key pieces of information customers would want to know about Save before joining.
Of course, our customer support team is also available during business hours to answer any questions you may have. You can contact them any way listed on our website.
Meet the Save team and our partners
The Save team and partners unite their experience in insurance, banks, investment banking, fund management, and investment management to create an easy-to-use platform to help everyday people access advanced tools to meet their financial goals.
Save was created by founder Michael Nelskyla and a team of financial industry veterans, fund managers, data scientists, software developers, and quantitative leaders with experience at financial firms and organizations such as Goldman Sachs, UBS, and NASA.
We wouldn’t be the same without our partners, which include Webster Bank, N.A., Member FDIC, and Apex Clearing Corporation, Member FINRA/SIPC.
Webster Bank is our banking partner that keeps customers’ deposits in FDIC-insured, non-interest-bearing deposit accounts.† Webster is a leading commercial bank with $70 billion in assets and provides a wide range of digital and traditional financial solutions.
Separate from the deposit accounts with our partner bank, we create investment accounts for our customers with our partners at Apex Clearing Corporation. Without these investment accounts, we wouldn’t be able to invest on behalf of our customers and offer the opportunity of up to 3x the APY* of most traditional savings accounts.
At Save, we believe everyone should have access to sophisticated investment strategies to get the highest market returns possible while keeping their investments safe.
The following are a few social media highlights featuring the team and our customer benefits:
Save in the news
“Because your principal will be sequestered in an FDIC-insured bank account, you can’t lose money,” The Wall Street Journal said of Save Market Savings.
“Save is an ultra-high-yield investment savings account,” Bloomberg said.
“What Save does that’s different from many other nonbank financial providers is combine deposits insured by the FDIC with higher returns from curated investment portfolios,” American Banker said.
“You won’t lose money if the stock market takes a turn for the worse,” Business Insider said of Save products.
How do we get our market return percentages and what does it mean for you?
Ultimately, our Market Savings APYs* are average annual returns based on hypothetical back-tested performance in the Global Diversified Moderate Portfolio from 2006 to the present and are net of fees. The APY* we advertise online is from the hypothetical back-testing of the Global Diversified Markets Moderate portfolio.
You can access information on the methodology used in calculating and generating the hypothetical performance on our Hypothetical Back-testing webpage.
Documents to explore
Legal documents: As an SEC-registered firm, Save is required to meet specifications laid out by the Securities and Exchange Commission, including all of our legal information for our products and company. These are publicly accessible on our website.
Informative blogs: You read our blog online, or browse the highlights below:
- How FDIC insurance secures your Save Market Savings deposits*
- How to spot a credible fintech in a world with FTX and SBF fiascos
- Why you shouldn’t risk your own money in the market for a 9% return
Where we are
Because our products are all online-based, we do not have a public, brick-and-mortar office for customers to visit, though we are headquartered in Houston, Texas, with a remote office in New York City.
Save Advisers, LLC. is an SEC-registered investment adviser founded by senior members of the banking and investment industry with one common goal:
To create a platform that helps people save more through market investments without any risk to their capital while eliminating unnecessary advisor fees and placing the customer’s interests first.
Our customer service team is available over the phone, by email, or any of the other ways listed on our FAQ site.