Waddell & Reed of Overland Park, Kan., has aligned with BabyMint, Inc., an Atlanta-based firm that offers consumers rebates on purchases to invest in any 529 college savings plan of their choice.

Currently, BabyMint customers are already investing in every active 529 plan on the market, said Bill Koleszar, a spokesman for BabyMint. That would mean that investors are already using BabyMint to invest in Waddell & Reed's Arizona-based InvestEd 529 program.

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.