American Century today began selling its 529 college savings plans through financial advisors. Previously, American Centurys Learning Quest Education Savings Program was only available directly through the company or through Charles Schwab.
"We found the tax, estate and legal implications and many choices were far too complicated for many people and that they really need advice," says American Century spokesperson Beth Randolph Taylor. As a result, fund companies are increasingly turning to advisors to help investors make the right 529 college savings choices, Taylor says.
American Century will allow investors to select from front-, level- and back-end commissions.