The price of college tuition is steadily rising; in fact, tuition has risen faster than inflation in recent years. But 529 plans can help families better save for their children’s education.
And a lot of these plans are advisor-sold; as of December 2014, about $105 billion of the $218 billion in total college savings plan assets were advisor-directed, according to Morningstar’s recent 529 College-Savings Plan Landscape report. Advisors can customize 529 portfolios to fit their clients’ needs, says Morningstar
In honor of 5/29, national 529 college savings plan awareness day, we rank the top 10 529 plan program managers by assets, according to Morningstar. The program manager is typically the asset manager whose mutual funds are used the plan, but some program managers partner with a money manager who provides the investment choices, Morningstar says. American Funds, which is the largest program manager by assets, only administers Virginia’s CollegeAmerica plan. See how the others stack up.
