Save Expands Market-Linked Cash Management Access Through Schwab Marketplace
Save has expanded its Market Savings program to independent advisors via Schwab Marketplace, offering a liquid cash management solution for high-net-worth individuals and family offices. The platform allows clients to keep their deposits in FDIC-insured bank accounts while earning market-linked returns through separate securities accounts without investing the principal directly. The service provides exposure to markets like the S&P 500 and Nasdaq via ETFs, with Save reporting an average annual return of 7.5% over three years for its S&P 500-linked accounts. A client who invested $1 million in late 2022 earned a 6.34% average annual return while maintaining immediate access to their funds. Schwab Marketplace, which custodies about half of RIA assets according to Cerulli Associates, is an important distribution channel for the program. The expansion addresses growing demand among advisors and clients seeking better returns on large cash balances without sacrificing liquidity or safety.
Topics: family offices FDIC insurance high-net-worth clients independent advisors liquid cash management