College savings in 529 plans hit record high. Find out how the numbers break down.

SEP 09, 2014
The amount Americans are setting aside to pay for college is on the rise so far in 2014, with assets in Section 529 college savings plans reaching a record $244 billion at the end June, according to data released Tuesday by the College Savings Plans Network. Assets in the plans increased 7.7% over the past six months, or about 4.8% when contributions and distributions from the plans are discounted, the new data show. American Funds continues to top the list of 529 program managers just by overseeing the nation's largest plan, Virginia's CollegeAmerica plan, which has $47.8 billion in assets, according to a separate report out Tuesday from Strategic Insight. Five program managers oversee about 63% of the assets in all 529 plans, its report found. Meanwhile, the latestUS News & World Report list of “best” universities and colleges suggests parents of students at these schools are going to need a lot more than an average 529 plan to cover tuition. http://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2014/09/CI96268910.JPG"

Latest News

JPMorgan tells fintech firms to start paying for customer data
JPMorgan tells fintech firms to start paying for customer data

The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.

FINRA snapshot shows concentration in largest firms, coastal states
FINRA snapshot shows concentration in largest firms, coastal states

The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.

Why advisors to divorcing couples shouldn't bet on who'll stay
Why advisors to divorcing couples shouldn't bet on who'll stay

Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.

SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives
SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives

With more than $13 billion in assets, American Portfolios Advisors closed last October.

William Blair taps former Raymond James executive to lead investment management business
William Blair taps former Raymond James executive to lead investment management business

Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.