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.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
