What are the responsibilities and job description for the 401k Operations Specialist position at Savvy Wealth?
About Savvy Wealth
Wealth management is a $545 billion industry in the US, yet remains archaic and inefficient with low technology penetration. 75% of financial advisors don’t offer digital communication beyond email, and 62% still build financial plans manually in Excel. This leads to a poor client experience and results in financial advisors spending over 70% of their time on non-client facing, manual work.
Savvy is changing that. We’re building the most advisor-centric platform in wealth management: a digital-first solution that modernizes human financial advice. Advisors who partner with Savvy tap into AI-powered software, automated sales and marketing, and seamless back office workflows to scale faster and spend more time with clients.
We’ve raised over $105M to date from Thrive Capital, Index Ventures, Canvas Ventures, Mark Casady (former LPL Financial CEO), and other top-tier investors. Our team is made up of repeat founders and operators who’ve helped build Airbnb, Square, Brex, Carta, Facebook, $200B RIAs, and more.
Savvy is at a pivotal point in its growth trajectory, having established strong product-market fit in providing a modern platform to financial advisors. We’ve surpassed $2.2 billion in AUM in less than three years, grown 600% in the last 18 months, and are entering the next phase of the company which involves rapid expansion of our product offering and continued revenue growth. Come help us scale!
The Role
Savvy is seeking a dedicated 401k Operations Specialist to join our growing Operations team. This role is designed for a "player-coach" who possesses deep subject matter expertise in the corporate 401k landscape and ERISA regulations but is also willing to roll up their sleeves to execute daily administrative tasks. You will serve as the primary point of contact for all 401k-related operations, bridging the gap between our financial advisors, third-party recordkeepers, and our internal portfolio management systems. You will be responsible for building out the infrastructure to support these clients efficiently while handling the day-to-day processing of plan documents, billing, and data management.
Responsibilities
Plan Onboarding & Administration:
Wealth management is a $545 billion industry in the US, yet remains archaic and inefficient with low technology penetration. 75% of financial advisors don’t offer digital communication beyond email, and 62% still build financial plans manually in Excel. This leads to a poor client experience and results in financial advisors spending over 70% of their time on non-client facing, manual work.
Savvy is changing that. We’re building the most advisor-centric platform in wealth management: a digital-first solution that modernizes human financial advice. Advisors who partner with Savvy tap into AI-powered software, automated sales and marketing, and seamless back office workflows to scale faster and spend more time with clients.
We’ve raised over $105M to date from Thrive Capital, Index Ventures, Canvas Ventures, Mark Casady (former LPL Financial CEO), and other top-tier investors. Our team is made up of repeat founders and operators who’ve helped build Airbnb, Square, Brex, Carta, Facebook, $200B RIAs, and more.
Savvy is at a pivotal point in its growth trajectory, having established strong product-market fit in providing a modern platform to financial advisors. We’ve surpassed $2.2 billion in AUM in less than three years, grown 600% in the last 18 months, and are entering the next phase of the company which involves rapid expansion of our product offering and continued revenue growth. Come help us scale!
The Role
Savvy is seeking a dedicated 401k Operations Specialist to join our growing Operations team. This role is designed for a "player-coach" who possesses deep subject matter expertise in the corporate 401k landscape and ERISA regulations but is also willing to roll up their sleeves to execute daily administrative tasks. You will serve as the primary point of contact for all 401k-related operations, bridging the gap between our financial advisors, third-party recordkeepers, and our internal portfolio management systems. You will be responsible for building out the infrastructure to support these clients efficiently while handling the day-to-day processing of plan documents, billing, and data management.
Responsibilities
Plan Onboarding & Administration:
- Oversee the preparation and execution of 3(21) and 3(38) investment advisory agreements, ensuring all plan information is pre-filled accurately and appendixes are completed before sending for signature.
- Serve as the main point of contact for setting up the firm with new recordkeepers. This includes locating and completing change forms, preparing "Virtual" and physical mailing address setups, and managing firm-level data (EIN, CRD, ACH instructions) across various custodians.
- Coordinate the gathering of client and advisor signatures via DocuSign or physical wet signatures and ensure completed forms are successfully processed by the counterparty.
- Portfolio Management System Setup: establish and maintain data feeds between recordkeepers and our internal reporting systems.
- Manage fee schedules, track down fee statements, and reconcile fees received to ensure accurate billing across all corporate accounts.
- Act as the internal go-to resource for advisors regarding 401k plan design, administration, and ERISA compliance questions.
- Refine internal workflows for 401k operations, maintaining and updating process documentation as the firm scales.
- Assist in ensuring all plan activities comply with ERISA, DOL, and IRS regulations, including supporting annual reporting and testing requirements where necessary.
- 3–5 years of operations or administration experience specifically within the corporate 401k/Retirement Plan space.
- Deep understanding of ERISA regulations, 401k plan structures (3(21) vs. 3(38) fiduciary roles), and the nuances of working with Third-Party Administrators (TPAs) and Recordkeepers.
- Strong proficiency in Excel and experience working with portfolio management or reporting software.
- Demonstrated ability to execute detailed administrative tasks (form filling, data entry, error checking) with high accuracy while also thinking strategically about process efficiency.
- Ability to work independently to solve complex operational issues (e.g., broken data feeds, rejected paperwork) with minimal supervision.
- Strong customer-facing presence and communication skills.
- Experience with Orion and Salesforce.
- Licensing: Series 65, Series 7, or relevant retirement designations (e.g., QKA, QPA, CRPS).
- Prior experience in a high-growth RIA or fintech environment where processes are often being built from scratch.
- Competitive salary and equity package
- Unlimited PTO paid company holidays
- Access to holistic medical, dental, and vision plans
- Company 401(k), Commuter, and HSA/FSA plans
- NYC office in the heart of Manhattan
- Lunch and snacks provided in the office
- Access to virtual mental health care (Spring Health), vision related benefits (XP Health), and health concierge (Rightway) to help you find the right care
- Access to counseling for stress management, dependent care, nutrition, fitness, legal, and financial issues (Guardian WorkLifeMatters EAP)
Salary : $104,000 - $120,000