Assets in 529 plan accounts reached an all-time high of $328 billion in December before shrinking to $293 billion as of March as a result of the market downturn during the first quarter, according to research from Morningstar Inc.
Assets in the college savings accounts totaled nearly $286 billion at the end of 2018.
Plans sold directly to college savers continued to gain market share, Morningstar said, growing at more than double the rate of plans sold exclusively through financial advisers over the past three years.
Fees fell again in 2019, with the average direct-sold age-based portfolio's expense ratio declining to 0.35% in 2019 from 0.39% in 2018, and the expense ratio of the average adviser-sold age-based portfolio down 0.04 percentage points to 0.89% as of March 2020.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
