What you need to know before becoming a Save customer

What you need to know before opening a Save account 

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.

Hypothetical back-testing 

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:  

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. 

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4 Comments. Leave new

  • What is the annual standard deviation of your backrests ?

    • Heather Leighton
      June 26, 2023 10:42 am

      The (annualized) standard deviation of the portfolio backtests is around 2.5%. Please note that the Market Savings program portfolio exposure to the portfolio is currently around 3 times, hence the annualized standard deviation at the Market Savings program level is around 3 x 2.5% at the moment, i.e. around 7.5%.

      You can find the portfolio backtests here: https://joinsave.com/legal-hypothetical-back-testing

  • Kirk Barrett
    April 17, 2023 5:33 pm

    what i want to know is, because my money is held at Webster Bank, where does Save get the money to invest?

    • Heather Leighton
      June 23, 2023 3:52 pm

      We utilize two accounts; one deposit account with our partners at Webster Bank, N.A., Member FDIC, and one investment account with our partners at Apex Clearing Corporation. For the Market Savings program, all cash deposited by customers is placed in an FDIC-insured bank account† and is not used to fund investments and is therefore not at risk of loss. It is important to note that Save is not a bank, but we partner with FDIC-insured member banks.

      This allows the principal to be FDIC-insured,† and invest equivalent portfolio investments at the same time. What we mean by equivalent portfolio investments is essentially taking the economic value of your deposits and purchasing an equivalent investment on your behalf. Any equivalent investment is funded by Save partner banks, not from customer deposit accounts, and there is no requirement for customer outlay of their own capital.


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