– 529 Conference 2016: Distribution Strategies – View from the Wirehouses
– Article Round-Up
– Data & Research: Survey Stats on the Go
– 529 Conference 2017: Save the Date
– Quote 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. 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

The 529 Conference 2016 at the JW Marriott Grande Lakes in Orlando featured a session titled, “Distribution Strategies-View from the Wirehouses.” This year’s panel was moderated by Rob Tirrell, 529 Business Development Specialist with Voya Investment Management and included the three panelists of John Hesse, Director of Distribution – Funds and 529 Unit Trusts with Morgan Stanley, Richard Polimeni, Director of Education Savings Programs with Bank of America Merrill Lynch and William Reilly, IRA and 529 Plan Associate Product Manager with UBS. This week’s article highlights a summary of the session’s discussion including an introduction to the firms from key inside persons, insight on what their firm’s advisers are looking for, an overview of how their firms are positioned to fight the Robo and their view on industry trends including tax parity effect, regulation updates, share class development and advisory accounts. This week’s article will provide proprietary data and insight from the panel’s discussion to help you get up to speed with the firms and industry trends.

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

– PLANADVISER, “Ascensus College Savings Revamps 529 Participant Website”
– Investopedia, “How 529 plans impact financial aid.” Editor’s Take: 529 Primer, and read our article on the topic here.
– Forbes, “New Parents: Save Money (And Sleep Better) With These 5 Tips.” Editor’s Take: Advisers should suggest their clients ask for or give financial gifts for their children or grandchildren this holiday season, including 529 contributions for future college expenses. Alternatively, advisers should support their clients in the evaluation of their student loan repayment options.
– Money, “Should I refinance my student loans?” Editor’s Take: Round-up for some issues to consider in the process for your clients.

This section provides the latest market sizing data of the 529 industry as of 3Q 2016 and 2Q 2016, and provides a breakout of the overall industry by 529 savings plans and 529 prepaid plans.

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

2Q 2016 Quarterly 529 Market Sizing Data
– 12.9 million accounts invested in $267 billion assets in 529 savings and prepaid plans as June 2016
– 11.8 million accounts invested in $243 billion assets in 529 savings plans as of June 2016
– 1.1 million accounts invested in $24 billion assets in 529 prepaid plans as of June 2016

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.

“Left to their own devices, parents would not start saving for college soon enough. Therefore I help clients by focusing them on college savings.”
– Financial adviser working for a wirehouse with 20 years of experience

Source: Strategic Insight 529 Distribution Analysis 2016

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