MI 529 Advisor Plan

This summer, we are enhancing the MI 529 Advisor Plan experience for you and your clients. This includes an update to the investment menu line-up and transition to a new recordkeeper.

ENHANCEMENTS

Enrollment year investment portfolios mapping from age-based portfolios to enrollment year investment portfolios with automatic reallocations along the glidepath

BENEFIT TO CLIENTS

BENEFIT TO CLIENTS

  • Ability to choose the portfolio that corresponds to the expected year of enrollment for the beneficiary on the account
  • Makes it easier to map investment risk profile and investment time horizon
  • Smoother adjustments in portfolio allocations with the enrollment year

New unit class (Class I) No initial or deferred sales charges and/or ongoing trails for fee-based investment advisors

BENEFIT TO CLIENTS

  • Ability for financial professionals to utilize within fee-based or advisory accounts
  • Flexibility for financial professionals to charge their clients based on their specific relationship and services being provided
  • Smoother adjustments in portfolio allocations with the enrollment year

Reduce maximum class A unit sales loads for enrollment year investment portfolios within 3 years of the In School investment option

BENEFIT TO CLIENTS

  • Lower cost to families saving for beneficiaries closer to or at college-age

As announced earlier, we will be migrating our recordkeeping services to Ascensus College Savings Recordkeeping Services, LLC ("Ascensus"). To assist in the transition to Ascensus, we are providing a list of important milestones and dates for the Plan transition. A few key dates and milestones are listed below.

KEY MILESTONES/EVENT

NSCC trade settlement will be switched to T + 1 effective trade date

DATE

DATE

6/8/2020 (prior to conversion)


Last day of NSCC trading

DATE

6/9/2020


MI 529 Advisor Plan launches on Ascensus

DATE

6/15/2020


Financial Professionals will be able to access their clients' accounts via Ascensus' Quickview

DATE

Starting on 6/15/2020