The financial crisis is helping to boost financial planning in the workplace.
The College Savings Initiative will hold its third round table tomorrow in Washington to discuss ways to make Section 529 college savings plans more widely available to lower-income families.
States that operate Section 529 college savings plans are showing an increased interest in hiring third-party investment consultants to monitor their programs in the wake of the stock market downturn and the poor performance of OppenheimerFunds Inc.'s Core Bond Fund.
The Office of the Illinois State Treasurer may reach a settlement with OppenheimerFunds Inc. by the end of this month to recover $77 million for the state’s Bright Start College Savings Program as a result of losses from the Oppenheimer Core Bond Fund last year.
Two-thirds of affluent parents with children under 18 aren't using Section 529 college savings plans, according to a report by The Phoenix Cos. Inc.
Risk-averse parents saving for their children's college education are flocking to conservative, low-risk financial products, and Section 529 college savings plans are taking action as their assets decline.
The recession may have put a crimp in college savings plans, but it has actually heightened interest among parents and students in a greater variety of colleges, according to one industry observer.
Household financial decisions are being made increasingly by affluent women, creating opportunities for financial advisers, according to two industry surveys.
The expected reduction in front-end sales charges by large mutual fund companies may help stimulate sagging sales for Section 529 college savings plans.
