– Reader’s Perspective: Question and Answer with Deborah Goodkin, Managing Director of the Enable Savings Plan
– Reader’s Perspective: Question and Answer with Eva Giles, College Savings Program Manager for the Finance Authority of Maine
– News: Article Round-Up
– Research: Survey Stats on the Go
– Data: Market Sizing Update
– Events: 529 Conference 2017
– ABLE Act Column

529 Dash, Required Reading for Your 529 Education: The goal of the 529 Dash is to address the specific needs and concerns of advisers, accountants and estate planners who sell and service families and institutions in the college financial planning process by providing industry relevant news, product training and best practices. Building upon the product training and trends will be our editorial insight, market data and research. Also, the 529 Dash will provide opportunities for you to learn from and network with your peers based on real life case studies and forums such as the Strategic Insight 529 Dash LinkedIn Group. By reviewing these success stories on college financial planning from your peers of advisers, accountants and estate planners, the barriers to supporting your clients and building your book of business will be reduced.

Please Read, Engage and Share.

Paul Curley, CFA
Editor-in-Chief of 529 Dash
Director of College Savings Research
paul.curley@strategic-i.com
Twitter: @PaulCurleyBC
LinkedIn: Strategic Insight 529 Dash LinkedIn Group

How can an adviser, accountant or estate planner use an ABLE account to help their clients?

This article features an interview with Deborah Goodkin, Managing Director of the Enable Savings Plan with First National Bank of Omaha. With locations in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas, First National Bank of Omaha oversees $20 billion in assets with the support of its 5,000 employee associates. Based on this data, and the experience as a sixth generation family-owned business, the firm is the largest privately-owned bank holding company in the United States. Since 2010, Deborah has been with First National Bank of Omaha and is currently responsible for all aspects of development, implementation, and management of the Enable Savings Plan. In support of this effort, Deborah’s experience in the financial industry includes starting proprietary mutual funds for TIAA and overseeing college savings plans at First National Bank of Omaha (NEST, Nebraska’s 529 College Savings Plans), TIAA-CREF, Citigroup, and Legg Mason. Last but not least, thank you Deborah for your time, insight and support for working with me on the article. Please read the question and answers to learn about her perspective on ABLE programs, and hope that the article provides you with an opportunity to learn more from your peers.

What are the top three tips for families seeking to efficiently save and pay for college from the perspective of the Finance Authority of Maine?

This article features an interview with Eva Giles, College Savings Program Manager for the Finance Authority of Maine (FAME) which administers the NextGen 529 plan among other college financial planning roles. The goal of FAME is to help lead the creation of good paying jobs for Maine citizens by working at the nexus between economic and workforce development. Based in Augusta, Maine, Eva graduated from St. Joseph’s College with a bachelor’s degree in Natural Sciences and from University of Southern Maine with a Masters in Adult Education.  Prior to FAME, she was the Adult Education Director for the Lewiston Adult Education School and a teacher in the adult education program for the Portland School District. Last but not least, thank you Eva for your time, insight and support for working with me on the article. Please read the question and answers to learn about her perspective on 529 plans and college financial planning, and hope that the article provides you with an opportunity to learn more from your peers.

– Super Bowl 51, “SoFi Super Bowl Commercial 2017.” Editor’s Take: While a super bowl commercial on college financial planning was a plus and a sign of the times, the focus was on efficiently repaying the cost of college through student loan as opposed to efficiently saving and paying for college. Advisors, accountants and estate planners have an opportunity to note the rise of importance and focus on college financial planning, and make sure their clients stay ahead of the game by saving and paying efficiently. Have the conversation today with your clients.
– Investment News, “How to earn your clients’ trust” by Patrick Noonan, CFP, Advanced Planning of Commonwealth Financial. Editor’s Take: Timely topic, and thank you Patrick for presenting at the 529 Conference 2016 as covered in the article here.
– Winnie Sun, “9 tax things you absolutely must chat with your CPA about.” Editor’s Take: Timely topic as we approach tax filing season, and thank you Winnie Sun for championing the corporate 529 initiative. We appreciate all that you do.
– NJ.com, “Biz Brain: Can 529 plan pay for off-campus housing?” Editor’s Take: Peter McKenna, CFP, with Highland Financial provides his perspective on answers to common 529 related questions.
– University Herald, “College financial aid letters sent out early using new calendar, the pros and cons.” Editor’s Take: New FAFSA rules changed the timing of financial aid letters for higher education, providing a longer window to negotiate with schools on financial aid. Advisors should note the change in timing, and create a strategy accordingly with their clients.
– Wall Street Journal, “Why almost everybody should apply for college financial aid.” Editor’s Take: Timely topic, and great to see the coverage on 529s.
– The White House, “Presidential memorandum on fiduciary duty rule.” Editor’s Take: Paying for college is listed among the priorities of the new administration, alongside other financial planning goals of saving for retirement, buying a home and building an emergency fund.

– 67% of parents report that saving for their children’s college education is more important than saving for retirement. Editor’s Take: Plansponsors should add college financial planning to benefits packages and open enrollment to align with employee demand.

Here is the latest market data by Strategic Insight that can be used by the media and other organizations, and contact Strategic Insight for more information on its proprietary data, research, consulting and presentations for subscribers.

3Q 2016 Quarterly 529 Market Sizing Data
– 13.0 million accounts invested $272 billion in assets in 529 savings and prepaid plans as September 2016
– 11.9 million accounts invested $248 billion in assets in 529 savings plans as of September 2016
– 1.1 million accounts invested $24 billion in assets in 529 prepaid plans as of September 2016
Source: Strategic Insight

When: September 11-13, 2017
Where: JW Marriott Grande Lakes in Orlando.
Overview: The 529 Conference is a highly interactive and educational industry gathering where you’ll meet and network with the entire 529 ecosystem. Using a 360-degree perspective, the conference drills down into the most significant trends and challenges facing the industry today and includes critical conversation and debate surrounding the latest legislative developments, product innovations, investment options, distribution strategies, marketing initiatives, consumer trends, regulatory announcements and much more.

Optional sessions are available in conjunction with the 529 Conference to offer attendees additional education and training. The pre-conference ‘Essentials Seminar’ provides an understanding of the granular details of 529 plans in a constantly evolving market, and the post-conference ‘ABLE Session’ provides insight and networking into successfully implementing ABLE accounts.

Updates on the agenda, website and content:
– Ernesto A. Lanza, Senior Counsel with Clark Hill PLC, will present the “Federal Regulatory Framework” session at the 529 Essentials Seminar 2017 on September 11, 2017.
– David Smith, CFA, Managing Partner of Marquette Associates, will present the “Structuring & Evaluating the Investment Line-up” session at the 529 Essentials Seminar 2017.
– George Betzios and Kaprel Ozsolak, Founding Partners of Spectra Professional Services, will present “Fundamentals of College Savings Plan Operations” at the 529 Essentials Seminar 2017.
– Martha Savery, Director of Public Affairs with Massachusetts Educational Financing Authority (MEFA), will present the “Financial Aid: Lifecycle of Planning, Saving & Paying for College” session at the 529 Essentials Seminar 2017.
– Jamie Canup, Partner/Principal of Hirschler Fleischer, will present the “Tax Benefits & Planning” session at the 529 Essentials Seminar 2017.
– Video: This video features an interview by Paul Curley, Director of College Savings Research with Strategic Insight, with Chris Stack, Managing Consultant with Savingforcollege.com, at the 529 Conference 2016 on advisor-sold 529 plans and college financial planning.
– 529 Conference 2017 and ABLE Summit 2017 now have session titles and time slots.
– Registration for the event is now open.

This section will cover this week’s top legislative updates, product developments, news and resources relating to ABLE accounts, which are tax-advantaged savings accounts for certain individuals with disabilities and their families. After-tax contributions grow tax deferred, and distributions from the accounts are tax exempt when used for qualified expenses.

Article Round-Up, News and Resources:
– 529 Insiders, “Reader’s Perspective: Question and Answer with Deborah Goodkin, Managing Director of the Enable Savings Plan.” Editor’s Take: Thank you Deborah Goodkin for your time and insight in working with me on this article.
– AP, “People with disabilities finally get a way to save money.” Editor’s Take: First hand account on the positive impact ABLE accounts have on account beneficiaries.
– Lancaster Online, “Long-awaited program lets people with disabilities save money without losing benefits.” Editor’s Take: PA ABLE has launched its website in preparation for its launch in 2017.
– Data: 1,934 accounts invested $4 million in assets in ABLE accounts as September 2016, according to Strategic Insight.

List of Open ABLE Programs:
– Alaska: Alaska ABLE Plan
– Florida: Florida ABLE United Program
– Illinois: Illinois ABLE
– Iowa: IAble
– Kansas: Kansas ABLE
– Kentucky: STABLE Kentucky
– Michigan: MiABLE
– Minnesota: Minnesota ABLE plan
– Nebraska: Enable Savings Program 
– Nevada: ABLE Nevada
– North Carolina: NC ABLE
– Ohio: Ohio STABLE Program
– Oregon: ABLE for All Savings Program
– Oregon: Oregon ABLE Savings Plan
– Rhode Island: RI’s ABLE
– Tennessee: ABLE TN
– Virginia: ABLEnow

Please be aware, we are transitioning the 529 Dash newsletter to a new service provider. The new domain will appear as 529conference.strategic-i.com, so please make any necessary adjustments to spam filters, preferred sender lists, etc. Thank you!

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