In response to the growing 529 market, Morningstar has enhanced its Web site for financial advisers by adding new analytical tools that target state-sponsored college savings plans.

The database is designed to help advisors compare their options when choosing a 529 plan, said Chris Boruff, president of Morningstar's advisor business unit.

MorningstarAdvisor.com’s 529 Plan Center provides a database of detailed information on every 529 plan available, the company said. In addition, there will be both editorial content and industry-specific data provided by SavingforCollege.com, a 529 plan educational Web site.

The 529 plan market is expected to grow to $51 billion by 2006, according to Cerulli Associates.

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