Holders of 14.3 million 529 education saving accounts had a total of $437 billion invested in their plans in the quarter ended June 30, an increase of 6.1% from the $412 billion invested in the first quarter, according to a report by ISS Market Intelligence.
Inflows to all accounts totaled $4.7 billion during the second quarter, up from $3.7 billion in the previous quarter.
The report also noted that $878 million was invested in 100,874 ABLE accounts. Also known as 529A accounts, these allow individuals with disabilities and their families to make tax-advantages contributions to save money for the disability-related expenses of the account's designated beneficiary.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
