529's at RIA's
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Jul 21, 2010 1:55 pm
Can an RIA maintain 529 accounts? I would assume so, but wasn't sure. Who becomes "broker of record" on the account - the custodian?
Yes, 529 Plans can be offered by Fee-Only RIAs. Some vendors like American Funds for example, can assist you in this. I believe American Funds manages the 529 plan for The Commonwealth of Virginia. Other states like Arkansas, have rolled out a solution to help 529 plan participants work with a fee-only advisor. Check with your respective state and inquire. It is certainly possible and best wishes to you.