– 529 Insiders Article of the Week
– News
– Research
– Data
– Events
– ABLE Act Column
– Quote of the Week
– Question of the Week

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.

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

Reader’s Perspective: Question and Answer with Pam Horack, CFP, Financial Planner with Pathfinder Planning LLC

What is working for “Your Financial Mom” in terms of college financial planning and college readiness?

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

– The Guardian, “UK student loan debt soars to more than 100 billion pounds.” Editor’s Take: Student loan debt is a growing global issue, and so client demand for college financial planning will increase. Help your clients to save and save efficiently.
– Washington Post, “Parents, do you have the best 529 college savings plan? (Yes, you can choose.)” Editor’s Take: Residency requirements of 529s are discussed in the 529 Insiders article here.
– Business Insider, “Even wealthy families are struggling to pay for college.” Editor’s Take: College financial planning can help your clients across all income and wealth categories, whether it be through financial aid positioning, usage of investment vehicles with beneficial tax treatment or estate planning. Have the conversation today.
– Capstone Wealth Partners, “How divorced parents pay for college.” Editor’s Take: Thank you Joe Messinger, CFP, ChFC, CLU, for the educational walk through on this topic.
– BenefitsPro, “10 tips to improve financial wellness programs”

Last Week’s Most Read Articles:
– US News, “How to choose a 529 plan on your own.” Editor’s Take: Thank you for referencing Strategic Insight in the article.

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

– 46% of parents are confident in their college financial plan.
– 25% of 529 beneficiaries are younger than 5 years old. Editor’s Take: Inversely, 75% of 529 beneficiaries wait too long to start. Therefore you have an opportunity as an advisor to show the value that you bring to your client by starting the college financial planning process early.
– 6% growth in student loan debt this year for graduates. In 2017, graduates carried $37,172 in student loan debt per student.

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.

March 2017 Quarterly 529 Market Sizing Data
– 13.3 million accounts invested $289 billion in assets in 529 savings and prepaid plans 
– 12.2 million accounts invested $266 billion in assets in 529 savings plans 
– 1.1 million accounts invested $23 billion in assets in 529 prepaid plans
– 7,286 accounts invested $25.5 million in assets in ABLE (529A) accounts

When: September 11-13, 2017
Where: JW Marriott Orlando Grande Lakes
Overview: Strategic Insight’s 529 Conference 2017 is a highly interactive and educational industry gathering where you’ll meet and network with the entire college financial planning ecosystem. The pre-conference optional session of the ‘Essentials Seminar’ provides an understanding of the granular details of 529 plans in a constantly evolving market, while the post-conference optional session of the ‘ABLE Afternoon Summit’ provides insight and networking opportunities to support the successful implementation of ABLE accounts.

– Hon. John D. Perdue, West Virginia State Treasurer, has been confirmed as a panelist of the “Building Momentum from the State’s Perspective” session.
– Rob Tirrell, 529 Business Development Specialist, Voya Investment Management, has been confirmed as a panelist of the “The Future of Product Strategy” session.
– Joe Farrage, Sr. VP Business Development and Strategic Partnerships, PeachJar, has been confirmed as a panelist of the “Effective Direct-Sold Marketing Strategies” session.
– See the ABLE Afternoon Summit 2017 agenda updates in the ABLE Act Column below.
– 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.

News, Research & Resources:
– Webinar, “The caregiver’s challenge—“Planning for children with special needs” by UBS on Wednesday, June 28, 2017. Editor’s Take: The webinar starts with a compelling stat for potential ABLE account users in that 65 million in the U.S. will experience a special need or disability during their lifetimes.

Industry Events: Strategic Insight ABLE Summit 2017 on September 13, 2017 at the JW Marriott, Orlando Grande Lakes
– Agenda Updates:
– Kathleen McGrath, Esq., Founder of KF McGrath LLC, has been confirmed as a moderator of the “ABLE Implementation: Consumer, Product, Marketing & Distribution Perspective” session.

List of Open Programs: 529 Insiders
Legislative Update: 529 Insiders on “ABLE 2.0″ 
Product Training Primer: 529 Insiders
Market Data: Strategic Insight – 7,286 accounts invested $25.5 million in assets in ABLE (529A) accounts as of March 31, 2017

Please contact Paul Curley at paul.curley@strategic-i.com if you are seeking a speaker for an upcoming event.

Upcoming:
– Dimensional Fund Advisors Annual Defined Contribution Conference, “Comprehensive Financial Wellness Panel” with Paul Curley, CFA, at the The University of Chicago Booth School of Business Gleacher Center in Chicago, Illinois on July 13th from 2pm to 3:15pm.
– Wirehouse branch-wide continuing education presentation, “The Best of 529 Essentials Seminar” with Paul Curley, CFA, in Manchester, New Hampshire, on July 18th at 2pm

“College planning has allowed me to differentiate myself from other financial advisory firms and has proven to be a tremendous value added service for the people I work with.”

– Brett Tushingham, CFP, Founder of Tushingham Wealth Strategies

Click “Read more” to take this week’s 529 Dash Question of the Week. Results will be reported in next week’s 529 Dash e-newsletter.

Results from last week’s question of the week, “Media coverage of student loan debt has increased client demand for college financial planning over the past five years.”
– Agreed: 55%
– Not Sure: 40%
– Disagree: 5%

702 King Farm Boulevard, Suite 400, Rockville, MD 20850  |  +1 212-217-6884  |  issgovernance.com