Why SaveDaily?
In an era when mainstream investment firms are turning away clients with less than $100,000 in assets to invest, SaveDaily makes it possible for banks to not only provide their low-income customers with quality investment services, but to do so with attractive margins.
Historically, traditional financial institutions found it too costly to open and maintain small-volume investment accounts. The high costs of servicing an account were typically recovered through a combination of high fees (commissions, transaction fees, and account maintenance fees) and minimum investment requirements, creating financial barriers for the low-income investor.
But now SaveDaily, a pioneer in the field of paperless brokerage solutions, has changed all that. SaveDaily’s ultra low cost, private label platform enables banks, brokerages, and non-traditional financial service providers to profitably offer high-end financial services to anyone, regardless of income, account size, or activity levels.
With SaveDaily, account holders can purchase shares of virtually any mutual fund, with no minimums and no transaction fees. SaveDaily provides complete 24×7 web/kiosk/ATM access for opening accounts, making investments, redeeming shares or viewing transaction histories. Clients can invest directly into their mutual fund accounts from their existing checking accounts. They can also set up regularly scheduled deductions from payroll or other sources. This “out-of-sight, out-of-mind” investing allows new investors to practice regular, disciplined investing in any amount they choose while leveraging the benefits of dollar cost averaging.
By pooling multiple small investments into large, aggregated transactions, SaveDaily minimizes transaction costs and eliminates the need for investment minimums. This strategy enables even modest savers and investors to purchase nationally-known mutual funds that were previously inaccessible to them. SaveDaily’s proprietary sub-accounting technology handles all tracking and reporting, including electronic confirmation notices, online account balances, quarterly statements, and more.
Finally, SaveDaily also provides much-needed guidance. In the past, professional financial advice was available primarily through brokers or financial planners, and then only to the relatively affluent. But now, by means of an “assessment wizard,” SaveDaily can help customers from all walks of life to build a profile, determine their goals, select suitable investments, and manage those investments over time. Without the need for a costly personal investment adviser, client portfolios can be automatically rebalanced and reallocated in accord with a customer’s profile and investment goals.
