New Savings Program Offers Higher APY by Combining Market Returns with a Guaranteed Yield
April 16 2024 - 10:00AM
Business Wire
Gainbridge®, a Group 1001 company, and Save® Advisers, LLC, a
technology and wealth management company, announced the launch of
Market+ to address the needs of savers who want market
participation with a minimum guaranteed return.
Market+ offers a hybrid yield structure, featuring a 3%
guaranteed annual yield (returned in the form of an annual payment)
alongside a market-linked yield with a variable APY of 5.41%*. The
investment program has a three-year term and is principal
guaranteed only when held to maturity.
“Savers today want the stability of a predetermined annual
yield, but they also want the potential upside of participating in
the markets as long as it doesn’t put their cash at risk. That’s
why we created Market+,” said Michael Nelskyla, CEO of Save®.
When an investor opens a Market+ account, Save® allocates a
portion of their deposit to a guaranteed interest rate product
available through the Gainbridge® platform, while the remainder of
the deposit is invested in the customer’s chosen investment
portfolio, which is typically Save’s S&P Risk Controlled
Portfolio.
“Market+ shows how the next generation of wealth advisors can
create innovative savings and investment programs for consumers by
embedding high-yielding insurance products,” said Jayant Walia,
Director of Business Development at Gainbridge®.
Market+ pays the consumer a return of 3% of the deposit on an
annual basis. Investors can withdraw this return at any time after
disbursement. At program maturity after three years, the customer
receives their last guaranteed return payment, their initial
deposit, and the gains from their market-linked investments.
“Our investment strategy ensures that you can get your full
investment back, that you will always make a minimum of 3% – even
if the market declines – and that you will have an even better
return if the market rises,” said Adam Watts, COO of Save®.
This partnership marks the second time Gainbridge® and Save®
have worked together to create differentiated investment products.
Through Gainbridge’s APIs, businesses can embed white-labeled
insurance-backed products within their existing ecosystem under
their own brand.
“Gainbridge’s cloud-native direct to consumer annuity platform
empowers consumer fintechs to embed, launch, and grow a variety of
innovative savings, investment, and retirement products built for
the 21st century,” said Santiago Jeyaseelan, Vice President of
Product at Gainbridge®.
*The non-guaranteed portion (strategy-linked security
investments) advertised and presented for the Save® Market+ Program
is based on historical performance in the S&P 500
Risk-Controlled Portfolio from 2009 to present and reflects the
back-tested hypothetical customer account returns that could have
been produced by the historical performance if the investment is
held for the entire term selected (net of fees). All back-test
statistics are hypothetical and have been designed with the benefit
of hindsight.
The guaranteed interest rate product referenced is an annuity
issued by Gainbridge Life Insurance Company, Zionsville, Indiana.
Any withdrawal from the guaranteed interest rate product (above the
3% guaranteed return payment) will result in closure of the Market+
account and will result in surrender and/or withdrawal charges and
a market value adjustment which may increase or decrease the amount
withdrawn. All guarantees are based on the claims paying ability
and financial strength of the issuing insurance company.
For more information about Market+ visit:
https://joinsave.com/market-plus.
About Gainbridge®
Founded in 2018, Gainbridge® is an insurtech subsidiary of Group
1001 that empowers consumers to take control of their financial
future with solutions that are accessible to everyone, no matter
their budget or financial knowledge. Its platform provides access
to financial products that are simple, intuitive, and backed by
smart technology with no complexity or hidden fees. Gainbridge® is
headquartered in Zionsville, Indiana. For more information, visit
www.gainbridge.io or follow and connect with us on X and
LinkedIn.
About Group 1001
Group 1001 is a collective that empowers companies to create
positive growth. Our insurance and annuities are easy to understand
and accessible to all. Our online investing platform gives
individuals control over their savings. Our technology and
innovation help companies succeed. And our strategic partnerships
bring people together through education and sports.
As of December 31, 2023, Group 1001 had more than 1,200
employees and combined assets under management of $62.6 billion,
serving more than 950,000 customers. It comprises the following
brands: Delaware Life, Gainbridge®, Clear Spring Health, Clear
Spring Property and Casualty Group, Clear Spring Life and Annuity
Company, and RVI Group, among others.
About Save® Advisors, LLC
Save® Advisers, LLC, is an SEC-registered investment advisor
that brings sophisticated investments to everyday people who want
higher returns on their savings without the risks of the stock
market. Save was created by a team of financial industry veterans
and technologists with experience at such well-respected financial
firms and organizations as Goldman Sachs, UBS, and NASA. Learn more
at www.joinsave.com. Follow and connect with Save® on LinkedIn,
Facebook, Instagram, and X.
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version on businesswire.com: https://www.businesswire.com/news/home/20240416150001/en/
Amanda Vela Group 1001 Social Media Manager
amanda.vela@group1001.com 317-374-3180