SaveDaily Announces 105% Year Over Year Increase In Total Client Assets Served
More than $167 Million of Client Assets Utilize Our Investment Platforms
SEAL BEACH, Calif., May 23, 2012 /PRNewswire/ -- SaveDaily, Inc. (OTCBB: SAVY), the leading provider of low cost mutual fund investing platforms used by credit unions and other financial institutions, today announced that it has increased total client assets served on the SaveDaily platform by 105% year over year. "In April 2011 we were servicing $82,000,000 of client assets on our proprietary platforms," explained Greg Vacca, President, "and by October 2011 we grew that amount to approximately $140,000,000. While we were understandably pleased by these expanding inroads to our credit union partners, we saw a further increase in the first quarter of 2012 with more than $167,000,000 in client assets served." "We have now become the preferred industry provider of mass market solutions and are growing rapidly," said Greg Vacca. "As a microcap growth company serving very large markets, our metrics are impressive but still early stage in our projected market penetration," said Jeff Mahony, chief executive officer. "These metrics demonstrate that we continue to execute our business plan with a singular, dedicated focus of bringing Wall Street caliber investment opportunities to Main Street Savers," he noted. "We believe that SaveDaily offers the widest range of mutual fund investment options at the lowest cost in the nation and we expect to announce several financial institution partner additions, enhanced revenue sources and other significant financial milestones during the balance of 2012."
SaveDaily offers investments and record-keeping services to its intermediary partners, as well as directly to clients through a variety of white-labeled interfaces. SaveDaily owns its proprietary financial services platform which has been in production for about three years, helping financial intermediaries succeed in bringing suitable and affordable investment services to everyday savers and investors. SaveDaily, through its financial services partners, has the capability of making virtually all mutual funds available to its clients. SaveDaily conducts its business through its wholly owned subsidiary, SaveDaily.com, Inc., which is headquartered in Seal Beach, California and is a Registered Investment Advisor with the Securities and Exchange Commission. For more information, visit www.savedaily.com.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding pending litigation and the timing and outcome of those proceedings. Such forward-looking statements are based on expectations, estimates and projections about the markets in which the Company operates, management's beliefs, and certain assumptions made by management and involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements, including but not limited to (1) the outcome of any legal proceedings that have been or may be initiated by the Company or that may be initiated against the Company; (2) the ability of the Company to continue deploying on its low cost platform and to achieve widespread customer adoption of the Company's product and service offerings; and (3) the possibility that Company may be adversely affected by other economic, business, and/or competitive factors. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including those under the heading "Risk Factors" in Company's Current Report on Form 8-K filed with the SEC on August 30, 2011 and in the Company's Quarterly Report on Form 10-Q filed with the SEC on November 14, 2011, our Annual Report on Form 10-K filed on April 16, 2012 and Form 8-K filed on April 26, 2012. Many of the factors that determine the outcome of the subject matter of this press release are beyond the Company's ability to control or predict. Except as required by law, the Company is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.
SaveDaily Inc. 562.795.7500 ext 1020
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