– 529 Essentials Round-Up
– Article Round-Up
– Data & Research: Survey Stats on the Go
– ABLE Act Column
– 529 Conference 2017 Update

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
pcurley@sionline.com
Twitter: @PaulCurleyBC
LinkedIn: Strategic Insight 529 Dash LinkedIn Group

On September 12, 2016, Strategic Insight held the 529 Essentials Seminar 2016 which is a full-day event that drills down into the mechanics of 529s and college financial planning. It featured training on a range of nine different topics from tax to financial aid to comparing college saving vehicles to provide attendees with a clear understanding of the ever-evolving tax, regulatory, financial aid, investment and structural implications driving the market today. Sessions were taught by eight different leaders of the industry, and next year’s 529 Essentials Seminar will take place on September 11, 2017 at the JW Marriott Grande Lakes in Orlando. In preparation for next year’s event, we will continue to provide educational articles going forward every week in the 529 Dash e-newsletter and 529 Insider website, and a round-up of recent 529 Essentials articles in the 529 Insider include the following:

– 529 Essentials: 529s vs. Taxable Brokerage Accounts
– 529 Essentials: 529s vs. IRAs
– 529 Essentials: State Tax Benefits
– 529 Essentials: Qualified Distributions & 10% Penalty Exemptions
– 529 Essentials: Financial Aid Fundamentals
– 529 Essentials: 529 Primer

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

– NICCP, “Pros and cons of saving for college in 529 plans.” Editor’s Take: 529 primer from a few different perspectives.
– Vanguard, “Tackling the tuition bill: Managing higher education expenses.” Editor’s Take: Visual charts spanning over 8-pages of analysis explains how efficiently saving and pay for college can leave retirement assets intact.
– 6 ABC Action News, “Filing for student financial aid starts October 1.” Editor’s Take: Be aware of the timing of financial aid applications for your clients. The earlier start may provide you with a client engagement opportunity.
– Next Avenue, “New rules for the college financial aid FAFSA form.”
– Massey Quick Wealth Management, “529 plans – great for grandma & grandpa” Editor’s Take: Example of how a financial advisor leveraged 529 101 content to build their book of business.

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

– 86% of the wealthiest believe in lifelong educational self-improvement, compared to 5% of the poorest. Editor’s Take: 529s provide all families with an opportunity to achieve life-long learning in a tax, financial aid and estate planning efficient manner.
– 70% of students receive some form of financial aid.
– 18% of millennials are saving for their children’s or grandchildren’s education, compared to 11% of baby boomers. Also, 17% of millennials are saving for their own education.
– $3.9 trillion in assets is expected to transfer between generations over the next decade among ultra high net worth (UHNW) individuals. This amount is based on 14,000 UHNW individuals with an average personal net worth of $272 million. Editor’s Take: 529s provide advisors, accountants and estate planners with an opportunity to remove assets from an estate while allowing the account owner to maintain control of the account. Learn more.
– $1 saved in a 529 is $2.22 not having to be paid back later with interest.

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 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.

The ABLE Afternoon Summit 2016 featured a keynote presentation by Rich Donovan, CEO of the Return on Disability Group, in a session titled “Translate Different into Value – Return on Disability”. As providers grapple with how to serve ABLE investors, Rich outlined the market and delivered a path to product that connects investor’s demand for returns and affinity. The presentation painted a demographic picture of the Disability market, shared key lessons learned from the Canadian Registered Disability Savings Plan (RDSP), and outlined smart beta solutions for ABLE investors – defining a path of success for suppliers in this new retail investment marketplace. Learn more by reading the 1-page Return on Disability Group’s Product Fact Sheet.

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.

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