American Century Investments has created an adviser-sold version of its 529 college savings plan. The Learning Quest Education Savings Program, which the firm launched with the State of Kansas in July of 2000, will be supplemented by Learning Quest Advisor.

"The tax, estate and legal issues can be complex, so it makes sense for certain Learning Quest investors to want to work with financial advisers," Tim Shallenburger, Kansas State Treasurer, said in a statement. "Learning Quest Advisor also provides pricing flexibility to best meet the needs for clients who work with advisers."

The adviser-sold version, which will be made available in the second quarter of 2002, will have the same investment structure as the direct-sold version, according to American Century. Currently, the plan offers 22 strategic portfolios that investors choose based on their beneficiary’s age, and three diversified investment tracks, which are chosen on the basis of risk tolerance.

One difference with the adviser-sold version is its pricing structure. Investors who invest in the plan through intermediaries will pay a front-, level-, or back-end commission, or sales charge. Class A shares will have 3% initial commission, B shares will have a 2.5% up-front commission and a six-year back-end load, and C shares will have a 1% initial fee and a .75 percent trailing fee indefinitely, according to the firm.

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