Advisors Still Lukewarm On 529 Plans, Fidelity Says

Friday, August 26, 2011 08:01
Advisors Still Lukewarm On 529 Plans, Fidelity Says

Tags: 529 | education planning

The college planning discussion still seems to be taboo for many advisors.

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According to Fidelity's latest College Saving Indicators survey, only 33% of all parents go to a financial professional to talk about how to pay for school for the kids.


And of those who end up opening 529 accounts, most -- 62% -- have to bring up the subject to their advisors or else make the transaction themselves.


These accounts have been controversial in the past. Over the years, they've been seen as something that's sold and not bought, but here are parents buying them without any advisor prompting.


Is this an opportunity for advisors to help parents who want to buy education planning investments? Or if you don't like these accounts, an opportunity to warn them away?

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