Schoolhouse Capital has aligned with Evergreen Investments, Prudential Financial and SunAmerica Mutual Funds to form a new advisor-sold, multi-manager 529 college savings plan, Schoolhouse announced today. The plan is expected to be available to investors this spring.

The new plan, called the Arrive Education Savings Plan, is available to investors across the country, but is contracted through the State of New Mexico, according to Laurita Warner, a spokeswoman for Prudential.

The plan will offer investment options from Evergreen, Prudential, SunAmerica and State Street Corp., Schoolhouse’s parent. Schoolhouse will provide program management and the other firms will sell it with multi-share class pricing through their respective distribution channels. Investors and advisors will be able to gain access to the plan application through each of the firm’s Web sites, according to Schoolhouse.

This is the fourth 529 plan that Schoolhouse has launched out of New Mexico, said Ralph Constantino, CEO of Schoolhouse. The unit also operates a direct, no-load plan, and two other adviser-sold plans, which utilize partnerships with New York Life Investment Management and OppenheimerFunds.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.