Assets in 529 plan accounts reached an all-time high of $328 billion in December before shrinking to $293 billion as of March as a result of the market downturn during the first quarter, according to research from Morningstar Inc.
Assets in the college savings accounts totaled nearly $286 billion at the end of 2018.
Plans sold directly to college savers continued to gain market share, Morningstar said, growing at more than double the rate of plans sold exclusively through financial advisers over the past three years.
Fees fell again in 2019, with the average direct-sold age-based portfolio's expense ratio declining to 0.35% in 2019 from 0.39% in 2018, and the expense ratio of the average adviser-sold age-based portfolio down 0.04 percentage points to 0.89% as of March 2020.
Last week's layoffs totaled at least 130 Cetera employees, according to a senior industry executive.
Four of the Magnificent Seven will report this week.
Easing anxiety has seen the haven asset slide from record high.
Uncertainty remains challenging for Treasuries traders.
Move will raise concerns of inflationary impact of tariffs.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
