T. Rowe Price has reduced the expense fee it charges for managing Alaska’s in-state and national direct-sold 529 college savings plans by 8.2%.
The Baltimore, Maryland-based money manager said the cuts will save account holders about $1.7 million a year once they are fully phased in.
The University of Alaska serves as trustee and T. Rowe Price serves as program manager for Education Trust of Alaska, which offers three 529 savings plans: Alaska 529, which is marketed directly to investors within Alaska; the T. Rowe Price College Savings Plan, which is marketed directly to investors nationwide; and the John Hancock Freedom 529, marketed nationally through financial advisers.
The move follows earlier dealmaking and leadership changes as the Overland Park-based hybrid RIA builds toward a nonprofit-focused institutional platform.
From building multigenerational relationships to entering new adult planning areas and building healthy financial habits, higher education can be a gateway for advisors to become trusted partners to families.
The wirehouse-focused aggregator's rollout to more than 100 advisors lands as financial advisors race to add tax and estate planning tools.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
