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.coms 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.