– Question and Answer with Mark Struthers, CFA, Founder of Sona Financial
– News: Article Round-Up
– Research: Survey Stats on the Go
– Data: Market Sizing Update
– ABLE Act Column
– Events: 529 Conference 2017: Save the Date

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

This article features an interview with Mark Struthers, CFA, Fee-Only Investment Advisor and Founding Principal of Sona Financial. Based in Chanhassen, Minnesota, Mark’s insight as a self-proclaimed “Fiery Fiduciary” is built off of providing conflict-free financial advice to clients since 2008. Over that time period, he was a portfolio manager as an independent investment consultant, investment advisor with TruStone Financial, and more recently as a fee-only investment advisor and Founding Partner of Sona Financial. As part of his current role with Sona Financial, he provides public education sessions on funding college and retirement, college affordability and student loans. You can learn more about Mark Struthers and Sona Financial’s events at the website of http://50.87.248.154/~sonafina/. Last but not least, thank you Mark 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.

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

– InvestmentNews, “House bill seeks improvements to 529 college savings plans.” Editor’s Take: This article provides an overview of new proposed legislation in House Bill HR 529 by Representative Jenkins and Representative Kind that bolsters 529 plans and ABLE Accounts. Thank you Liz Skinner for sourcing Strategic Insight’s data and research in the article.
– CollegeAdvantage, “A new year, a new college savings story.” Editor’s Take: Thank you OTTA for sharing a parent’s story on saving for their child with a 529.
– CNBC, “Ka-ching! Here’s what it costs to be a grandparent.” Editor’s Take: 19% of grandparents contribute to their grandchild’s college savings account, and the an average contribution amount is $2,337 each year. Therefore college financial planning is a family goal.
– Kiplinger, “Where to save your child’s college fund.” Editor’s Take: Scott Vance, Investment Advisor with Portnoff Financial, provides an example of how you can build your book of business by creating and distributing primer content to the media.
– Financial Advisor Magazine, “How The Deck Is Stacked Against Student Loan Borrowers.” Editor’s Take: Case and point that saving, and saving efficiently with 529s beats student loans every time. Have the college financial planning discussion with your clients today.

Top Clicked Article from Prior Week’s 529 Dash:
– Steve Stanganelli, CFP, “Does a 529 Plan Make Sense with Less than 10 Years to College?” Editor’s Take: Given the short time frame that most parents seriously start saving for higher education, this is a timely article by a RIA on what to consider in the college financial planning process when short duration is a factor.

Here is what you need to know from data and research released this week.

– 32% of parents with children between the ages of 8 to 14 do not speak with their children about setting financial goals.
– 19% of grandparents contribute to their grandchild’s college savings account, and the an average contribution amount is $2,337 each year. Editor’s take: Therefore college financial planning is a family goal.

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

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:
– Webinar on January 25th at 12pm ET, “The ABLE Act Webinar” by Amy O’Hara, Esq., partner of Littman Krooks LLP, a New York based legal firm
– Webinar on January 24th at 12pm ET, “Why I chose an ABLE Account” by ABLE United. Editor’s Take: Two parents of ABLE account holders share their motivation and experience to date in using the accounts for their children. We look forward to learning about the product from their perspective.
– Webinar on January 31st at 2pm ET, “A deeper look at four new ABLE programs” by the National Disability Institute (NDI). Editor’s Take: A webinar focused on the four new plans offered by Kentucky, Michigan, Oregon and Virginia.
– Social Security Administration (SSA) guidelines on ABLE accounts. Editor’s Take: A fundamental resource for product training on ABLE accounts.
– InvestmentNews, “House bill seeks improvements to 529 college savings plans.” Editor’s Take: This article provides an overview of new proposed legislation in House Bill HR 529 that bolsters 529 plans and ABLE Accounts. Thank you Liz Skinner for sourcing Strategic Insight’s ABLE data and research, and much appreciated.

3Q 2016 Quarterly ABLE Market Sizing Data
– 1,934 accounts invested $4 million in assets in ABLE accounts as September 2016, according to Strategic Insight.

List of Open ABLE Programs:
– ABLE for All Savings Program
– ABLEnow
– ABLE TN
– Alaska ABLE Plan
– Florida ABLE United Program
– MiABLE
– Nebraska Enable Savings Program 
– Ohio STABLE Program
– Oregon ABLE Savings Plan
– RI’s ABLE
– STABLE Kentucky

The 529 Conference 2017 will take place from September 11-13, 2017 at the JW Marriott Grande Lakes in Orlando. Updates to the agenda will be announced in this section below. In the meantime, please save the date.

529 Conference 2017:
– The event’s website has been updated with 2017 information, including dates and a new photo loop on the landing page
– 2017 529 Media Kits are now available

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