College savings plans

Among the many provisions of the American Taxpayer Relief Act of 2012, Coverdell education savings account tax benefits were made permanent. Thus, ESAs have caught up with 529 plans, which were awarded permanent tax preferences in the Pension Protection Act of 2006. Does this mean ESAs can play a vital in clients’ education planning?

Assets held in 529 college savings plans increased 16.7% last year as the largest state plans continued to attract the bulk of assets.

The Internal Revenue Service said Wednesday that it has observed problems with the filings for education tax credits that could be delaying processing of tax returns.

According to Joe Hurley, founder of Savingforcollege.com, by far the most frequently asked questions he receives from advisors concern the impact of 529 plans on financial aid.

This increase indicates that “investors are successfully using 529 plans for their intended purpose of qualified higher education expenses,” according to the Financial Research Corp.

Funding a 529 plan for a grandchild can offer estate-tax benefits for wealthy clients - plus feel-good rewards.

Almost seven in 10 mass-affluent couples (69%) discuss their finances at least a few times a month. That’s more than what many spend talking about other topics, such as the election, work, sex, and even their kids.

Advisors can bring great benefits to their clients through college savings plans. Here are 15 advantages and 13 notes of caution.

Participation in 529 college savings plans has leveled off after years of growth, according to a Fidelity survey. Perhaps not coincidentally, the study found that most advisors do not "proactively suggest the 529 plan" to parents with youngsters.

Legg Mason's 2012 Intergenerational Survey of College Finances points out a lack of advanced planning among affluent Americans for their children's college education.

Alternative mutual fund shop Hatteras Funds has launched a new variable trust fund, the Hatteras Alpha Hedged Strategies Variable Fund, which will bet on “multiple” hedge fund managers.

William Blair & Co. has turned off the spigot on the William Blair International Growth Fund and Institutional International Growth Fund, effective June 30.

Laurence D. Fink used at least half a dozen acquisitions to expand BlackRock Inc. from a boutique bond shop to the world’s biggest money manager. Now the firm, which invests $3.7 trillion for clients around the world, faces a new challenge: Growing on its own.

June arrived on a positive note for tax-exempt money market funds, which accumulated $1.19 billion in new cash while total net assets rose to $273.64 billion in the week ended June 4, according to the Money Fund Report, a service of iMoneyNet.com.

Pershing on Wednesday said advisors will now be able use its platform to open, fund and manage 529 college savings plans for investors looking to set aside cash for their children’s education.

Edward Jones survey finds that only 37% of Americans were able to correctly identify 529 plans as a college savings tool.

Regulators in nations around the world, including fast-developing markets, don’t know quite what to make of the asset management business, fund executives said.

Buyers and sellers still cannot agree on price, the heads of six acquisition-minded banks said in first-quarter earnings calls.

For many planners with high-net-worth minimums for their clients, target-date funds don’t make sense for a variety of reasons. But in the right circumstances, they can be helpful tools.

The top concern was over the quality and selection of investment options in traditional plans, with over half of RIAs surveyed naming this as their chief issue.