The College Savings Foundation, a trade group consisting of 15 529 plan sponsors, has reportedly hired Financial Research Corp. to create a database detailing characteristics of various 529 college savings plans. FRC is culling such information as assets, investment options, subadvisors, share classes and distribution channels. There are no reports of FRC gathering information on performance, however.
The aim of the database is to create a single repository where 529 plan sponsors can compare their plans with those of competitors.
The database is reportedly slated for rollout in the third quarter. FRC evidently wants to make it interactive so that foundation members can create customized reports.