– Reader’s Perspective: Question and Answer with Bo Lu, Co-founder and CEO of FutureAdvisor
– Reader’s Perspective: Question and Answer with John Finch, Director of ABLE United
– News: Article Round-Up
– Data: Market Sizing Update
– Events: 529 Conference 2017
– ABLE Act Column
– Recruiter’s Corner

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

What trends does a co-founder of a robo advisor see in terms of college financial planning?

This article features an interview with Bo Lu, Co-founder and CEO of FutureAdvisor. Based in San Francisco, California, Bo’s insight is built upon working as the co-founder and CEO of FutureAdvisor for almost seven years. In the beginning, the firm was founded with his friend of Jon Xu through Y Combinator and sought to provide institutional grade digital investment management to the everyday American family nationwide. In 2015, the firm was acquired by BlackRock and Bo Lu continues to run the 100+ team independently from their offices in San Francisco. Prior to FutureAdvisor, Bo Lu graduated from the University of Illinois at Urbana-Champaign in 2014 and worked with Microsoft as a product planner and program manager from 2004 to 2010. You can learn more about Bo Lu and FutureAdvisor at https://www.futureadvisor.com. Last but not least, thank you Bo for your time, insight and support for working with me on the article. Please read the question and answers to learn about his perspective on college financial planning, and hope that the article provides you with an opportunity to learn more from your peers.

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

This article features an interview with John Finch, Director of ABLE United with the Florida Prepaid College Board. In July 2015, the State of Florida created ABLE United and mandated the Florida Prepaid College Board to administer the ABLE United Program. The Florida Prepaid College Board was established in 1987, and currently oversees more than $10 billion in investments in the state’s 529 savings plan and 529 prepaid plan. John’s primary role is to oversee the activities and functions relating to ABLE United, which is Florida’s ABLE Program. By function, he is responsible for the strategy, operations, contract management, financial management and board meetings for the program. Prior to the role, John worked with the ARC of Florida, which has a mission to promote and protect the human rights of people with intellectual and developmental disabilities. Lastly, John graduated from Florida State University with a B.S. in Business Administration in 2005, and thank you John 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.

Here is what you need to know from stories released this week.

– Investopedia by Steve Stanganelli, CFP, CRPC, AEP, “How to Pay for College Without Lots of Debt.” Editor’s Take: Thank you Steve for showing how advisers can provide value to their clients through navigating the complex world of college financial planning, and how they can justify their fee by providing college financial planning as well. To learn more, read our interview with Steve from the 529 Insiders website.
– New York Times, “How to manage a 529 plan for your child’s education.” Editor’s Take: Timely topic, and four advisers provide their perspective on answering the question as well.
– NJ.com, “Biz Brain: If a 529 plan beneficiary skips college.” Editor’s Take: Read the list of qualified expenses and penalty exemptions in our 529 Insiders article here.
– Bloomberg BNA Q&A, “Talking 529 college savings plans with South Carolina Treasurer Curtis M. Loftis, Jr.” Editor’s Take: Thank you Treasurer Loftis for helping to increase awareness of 529s and college financial planning.
– WealthManagement.com, “Three Ways Independent Advisors Need to Adapt to Truly Be Full Service.” Editor’s Take: College financial planning provides you with many opportunities to do more and be more for your clients. Have the college financial planning discussion with your clients today.

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 and commentary on its proprietary data, research, events and digital publications.

December 2016 Quarterly 529 Market Sizing Data
– 13.1 million accounts invested $275 billion in assets in 529 savings and prepaid plans
– 12.0 million accounts invested $252 billion in assets in 529 savings plans
– 1.1 million accounts invested $23 billion in assets in 529 prepaid plans
– 4,064 accounts invested $14 million in assets in ABLE (529A) accounts

September 2016 Quarterly 529 Market Sizing Data
– 13.0 million accounts invested $272 billion in assets in 529 savings and prepaid plans
– 11.9 million accounts invested $248 billion in assets in 529 savings plans
– 1.1 million accounts invested $24 billion in assets in 529 prepaid plans
– 1,934 accounts invested $4 million in assets in ABLE (529A) accounts

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.

– Video: This video features an interview with Martha Savery, Director of Public Affairs with Massachusetts Educational Financing Authority (MEFA), at the 529 Conference 2016 on the importance of financial aid and 529s in college financial planning.
– Video: This video features an interview with Chris Stack, Managing Consultant with Savingforcollege.com, at the 529 Conference 2016 on trends in advisor-sold 529 plans.
– 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 John Finch, Director of ABLE United.” Editor’s Take: Thank you John Finch for your time and insight in working with me on this article.
– BusinessWire, “Fifth Third Bank announces launch of ABLE checking option in 11 states as part of National ABLE Alliance”
– Data: 4,064 accounts invested $14 million in assets in ABLE accounts as December 2016, according to Strategic Insight.
– Events: ABLE Summit 2017 on September 13, 2017 at the JW Marriott, Orlando Grande Lakes

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 email job descriptions that would be of interest to the readership of the 529 Dash to paul.curley@strategic-i.com.

– Private College 529 Plan, President and Chief Executive Officer in St. Louis, Missouri, or a hybrid of locations
– T.Rowe Price, Sales Strategy Analyst in Baltimore, Maryland

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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