This state's adviser-sold 529 plan rates highest once again

A Colorado college savings plan gets top mark for 2010; rated No.1 for the past five quarters

Feb 15, 2011 @ 4:21 pm

By Liz Skinner

The Colorado college savings plan that Legg Mason Inc. sells through financial advisers topped the most recent one-year performance chart.

The three-month period ending Dec. 31 marked the fifth consecutive quarter that the Legg Mason Scholars Choice College Savings Program ranked first among adviser-sold plans based on investment performance including fees, said Laura Zimmerman, the firm's head of marketing. The $2.9 billion plan was created in 1999.

The ranking was done by Savingforcollege.com, which tracks the universe of 529 plans. The website issues a quarterly ranking based on a complicated analysis of investment performance across portfolios offered in the plan. It separates adviser-sold plans from direct plans and ranks each over three investment periods.

The rankings “give financial advisers important information to help them guide their clients through the college savings process,” said Joseph Hurley, founder and chief executive of Savingforcollege.com.

“Plans that are performing well tend to stay towards the top for consecutive periods,” he said.

The Legg Mason plan ranked 12th out of 26 plans for its three-year performance and 20th out of 21 plans for its five-year performance, according to the Savingforcollege.com listings.

Wells Fargo & Co.'s college savings plan for Wisconsin and Columbia Management Investment Advisers LLC's South Carolina 529 plan ranked second and third, respectively, among the 36 adviser-sold plans with one-year performance data, according to Savingforcollege.com.

The top adviser-sold performer over three years was MFS Investment Management's Oregon plan. Over five years, Waddell & Reed Inc.'s Arizona InvestEd plan topped the list.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Why some retirement plan advisers think Fidelity is invading their turf

InvestmentNews editor Frederick P. Gabriel Jr. and reporter Greg Iacurci talk about this week's cover story that looks at whether Fidelity Investments is stepping on the toes of retirement plan advisers.

Latest news & opinion

Maryland jumps into fiduciary fray

Legislation would require brokers to act in best interests of clients.

8 apps advisers love for getting stuff done

Smartphone apps that advisers are using in 2018 to run their business more efficiently.

Galvin's DOL fiduciary rule enforcement triggers industry plea for court decision

Plaintiffs warned the Fifth Circuit that Massachusetts' move against Scottrade signaled that the partially implemented regulation can raise costs for financial firms.

Social Security underpaid 82% of dually entitled widows and widowers

Agency failed to tell survivors that they could switch to a higher retirement benefit later.

Is Fidelity competing with retirement plan advisers?

As the Boston-based mutual fund giant expands the products and services it brings to the retirement market, some financial advisers say the firm is encroaching on their turf.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print