The latest 529 college savings plan data

FEB 29, 2016
Americans continue to save for steep college costs through tax-advantaged Section 529 savings plans. Virginia's CollegeAmerica plan, an adviser-sold program managed by merican Funds, remains the nation's largest with nearly $50 billion in assets. The next largest college savings plan sold through financial advisers is Maine's NextGen College Ivesting Plan Select, which has $8 billion in assets. The top program that's sold directly to consumers is New York's 529 Program, which is managed by Ascensus and contains $16.4 billion in assets. That particular plan also ranks among the top five performers in its class over the last three years, as does the version of the CollegeAmerica plan in Virginia that's sold by registered investment advisers.

529s ranked by assets

StateProgramManagerAssets ($M)
VACollegeAmericaAmerican Funds$49,770.8
NYNew York's 529 Program (Direct)Ascensus$16,406.2
NVThe Vanguard 529 College Savings PlanAscensus$10,900.9
NHUNIQUE College Investing PlanFidelity Investments$10,229.9
UTUtah Educational Savings PlanUtah Educational Savings Plan$8,437.7
MENextGen College Investing Plan SelectMerrill Lynch Pierce Fenner & Smith$8,223.1
RICollegeBoundfundAllianceBernstein $7,124.6
CAScholarShare College Savings PlanTIAA Tuition Financing Inc.$6,489.4
MAU.Fund College Investing PlanFidelity Investments$5,003.7
OHBlackRock CollegeAdvantage 529 PlanBlackRock Advisors$4,779.5
NHFidelity Advisor 529 PlanFidelity Investments$4,413.9
MIMichigan Education Savings ProgramTIAA Tuition Financing Inc.$4,248.1
ILBright Start College Savings (Direct)OFI Private Investments Inc.$3,765.8
COScholars Choice College Savings ProgramLegg Mason Global Asset Allocation$3,661.3
NYNew York's 529 Program (Advisor-Guided)Ascensus$3,599.2
MDMaryland College Investment PlanT. Rowe Price Associates Inc.$3,542.8
AKJohn Hancock Freedom 529T. Rowe Price Associates Inc.$3,469.0
NJFranklin Templeton 529 Coll Savings PlanFranklin Templeton Distributors Inc.$3,298.2
VAVirginia529 inVESTVirginia College Savings Plan$3,098.5
KSSchwab 529 College Savings PlanAmerican Century Inv Mgt, Inc.$2,796.7
NVUSAA College Savings PlanAscensus$2,488.5
CTConnecticut Higher Education TrustTIAA Tuition Financing Inc.$2,393.3
COCollegeInvest Direct PortfolioAscensus$2,349.4
WIEdvest 529 PlanTIAA Tuition Financing Inc.$2,305.1
MOMOST Missouri's 529 PlanAscensus$2,236.7

Most current assets available as of Aug. 19. Source: Morningstar, Inc.

https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2016/02/CI10121294.JPG" https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2016/02/CI10121394.JPG"

Latest News

Federal judge dismisses Eltek manipulation lawsuit against Morgan Stanley Smith Barney
Federal judge dismisses Eltek manipulation lawsuit against Morgan Stanley Smith Barney

Nine-month electronic trading freeze and share lending program at the center of dismissed claim.

RIA wrap: Dynamic strikes South Carolina deal to reach $7B AUM milestone
RIA wrap: Dynamic strikes South Carolina deal to reach $7B AUM milestone

Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.

Rethinking diversification amid a concentrated S&P 500
Rethinking diversification amid a concentrated S&P 500

With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.

Merrill pays second settlement to former Miami Dolphins player, client of ex-broker
Merrill pays second settlement to former Miami Dolphins player, client of ex-broker

Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.

Schwab touts AI as its biggest growth lever at investor day
Schwab touts AI as its biggest growth lever at investor day

The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

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

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline