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529 Plans for RIA's

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Jan 21, 2010 4:58 pm

I posed this question last year when they were first coming out and haven’t had any time to follow up any further since then…the question comes up pretty regularly - “Can you set me up with a 529 Plan for my kid’s college expenses?” 

At the time of my last query, RIA sold 529 plans were being talked about, but I cannot remember if there were any out on the street.

Does anyone have any suggestions for locating RIA-Friendly 529’s? 



Jan 21, 2010 5:05 pm

I don’t understand the question.  Since RIAs don’t sell investment products, how can their be an RIA sold 529 plan?

  Can't you get paid by your client to manage one of the plans done by no-load companies or to give advice?
Jan 21, 2010 5:22 pm

OK…Pardon my semantic error. 

At the time of my last post, RIA-FRIENDLY 529 plans were being talked about, but there were none available. 

I currently have only UGMA options to RECOMMEND to my clients - but as all learned advisors know, there are many more tax implications to the parent/custodian and of course the old “Harvard versus Harley” argument versus a 529 plan’s ease, flexibility, tax advantages and ability to change beneficiaries. 

Jan 21, 2010 5:44 pm

Why can’t you get paid directly from the client and use no-load companies?

Jan 21, 2010 6:03 pm

I second Anonymous’s proposal.  It would be like advising on a 401k.  However, if you are a total control-freak, I believe Arkansas’ 529 plan is run by Barclays and is for RIAs to use (all Ishares).
Jan 21, 2010 9:18 pm

ice, clean out your in-box.  I tried to respond to you.

Jan 25, 2010 2:15 am

+1 on the american funds.