SaveDay saves the day: Low-cost 401(k) provider with top-notch support. SaveDay, in our eyes, is the best 401(k) provider on the market for one fantastic reason: Their technology and fee structure means employers spend nothing to set up and maintain the plan, and employee accounts have a negligible AUM fee that is lower than that of most 401(k) providers. Compared to other "discount" 401(k) providers -- and we looked at many -- SaveDay's bargain almost sounds too good to be true. But, happily for us, it is true. With SaveDay, we can actually provide 401(k) accounts to college students in temp summer jobs, giving them a beautiful head start on retirement saving at zero cost to us as the employer. As another reviewer put it, what we save in fees we can now spend toward a company match for our employees. Plus, we don't have to worry about excessive fees overwhelming the value of a small initial account size. Can you imagine paying $8 per month at a "discount" 401(k) provider to maintain a tiny $100 retirement account for a temp employee? Who wants to pay 8% per month in fees? The math means most businesses will only offer 401(k)s to full-time salaried employees, while part-time and seasonal employees are left out. But SaveDay's AUM fee on a temp employee's tiny $100 account is about 3 cents per month, far less than a typical mutual fund. This cost structure is a game-changer for small businesses and, more importantly, for small-business employees, especially part-time and seasonal workers. SaveDay is shifting the entire ballgame in favor of the little guy. Even so, we were admittedly a little hesitant to sign up. Because of the low cost, we were expecting a low level of service, but we could not be more wrong. Our biggest surprise was the level of detailed attention that we received from SaveDay when setting up the plan, which one of their experts customized to our highly particular desires. After that, the same contact person proactively reached out to help us set up our initial contribution processing. We didn't actually need that help because SaveDay's online system is so easy to use, but it was nice to have a friendly expert available to call or email at a moment's notice. We have now been working with SaveDay for six months since our initial contact, and we couldn't be more pleased. Support has been phenomenal. Funding has been seamless and fast. Employees have direct login access to their accounts and allocations. Everybody is saving. Everybody is happy. SaveDay might be a hidden gem today because of its (relative) newness on the market, but mark these words: SaveDay will become one of the biggest names in an industry that is overdue for some much-needed disruption. Just watch!

Highly recommend SaveDay Very easy to use dashboard for setting up a small biz 401K. No reason every company shouldn't have a 401K program for their employees when it's this easy.

American Greed's upcoming episode The reviews and feedback provided here about Savday, with a rating of 2.5 speaks volumes on detrimental issues revolving this company and its operations. Yet, Saveday fails to provide a responsible indevidual in its operation to be contacted by anyone. Even if you are a client. The fact that Saveday is offering only a generic email reveals the turmoil in its operation. Savday was founded by Ayman Abukhater, and his responsive and dedicated team to handel the client's concerns with rapid personal response and client satisfaction vigor. Few years ago however, Saveday's top management got jolted and Ayman remained as a board member and Barry Bennet Mione ( FINRA CRD 1683147, barry at saveday.com) took over as the new CEO. Barry was with Kapital group, the back office of the Saveday in New York. A barely educated insider from Kapital to take over the Saveday. Saveday and its companion companies are all bounded by FINRA, and SEC policies that they MUST adhere to. Their fiduciary responsibilities are dictated by these and other government entities that Saveday is in violation of. Barry who is partly involved with Kapital and part owner with WeatlyX, another arm of the this triangle will govern your funds to the ground with no hesitation. The essence of Saveday from its inception vanished under Barry's management to becone nothing but a fraudulent entity. In 2019, out of nowhere, they decided to assess all kind of fees on thier account unilaterally and without grandfathering those who signed up early years to a no-fee account. This was the beginning of Saveday's demise. With more than eithy percent staff turnover, saveday moves its operations from California to Texas. The staff exodus remains high to this day and all staff are, by policy, hands off now, even the new CEO Holly Tachovsky, holly at saveday.com put in place as a new shield is no exception. Saveday's violation of their fiduciary responsibilities, misconduct, and formal complaints are reportable to both SEC and FINRA. Just Google "File a complaint with FINRA." Despite all that is marketed on Saveday, Barry remain the FINRA licensed "operative" involved in Kapital, WealtyX, and Savday will become the best candidate for the next American Greed episode. The essence of responsive service and compllances with FINRA are long gone from Saveday. I'm sure an unknown entity will responsed to this revirew while still cloaked.

Stay far away. Legit financial businesses don't use spam to advertise. I run a non-profit gym with zero employees, and received this spam comment today through our online enrollment form: "At SaveDay, a 401(k) is easy to set up or transfer, easy to understand, and easy to manage. There is absolutely no cost to set up a 401(k) plan with us or switch from your current provider. We don’t hide extra fees in the small print, our investments are smart, transparent, and grow freely. In other words, we save you money! We integrate with any payroll provider and can have you up and running before your next payroll. May I send you our performance review? Sincerely, Shannon Summers Business Development Officer (512) 957-6674 Respond with stop to optout." While Googling the phone number to find out who this is, I discovered more spam comments on other sites from both Shannon and "James Merrill Business Development Officer (512) 957-6674"

Great service Great service! SaveDay has done a good job of being responsive and helping with issues when I needed. I was using Guideline before, and they didn't allow for any accommodations to adjust for our circumstances, and it was a bad experience. I've enjoyed using SaveDay and I think it's been a good thing for our company and employees. I do wish we had a bit more flexibility in investment options, though. I hope that's in their product roadmap!