AllianceBernstein Investment Research announced Tuesday that its 529 college savings plan, sponsored by the state of Rhode Island, has topped $3 billion in assets.

"We’ve achieved success in the 529 marketplace because we’ve developed a unique, attractive product with a great diversity of investment options," said Richard A. Davies, executive vice president and head of mutual fund marketing for AllianceBernstein.

This makes AllianceBernstein’s Rhode Island plan the largest single-state 529, according to the company.

"Not only does this milestone reinforce our stature as a leader in the industry, it strengthens our belief that 529 plans are simply the best way to save for a child’s higher education," Davies said.

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