A new Fidelity Investments poll reveals that 54% of parents with children age 10 or younger who do not have a 529 plan are now more likely to open one since the 2006 Pension Protection Act makes permanent the ability of 529 account holders to take federal income tax-free distributions for qualified education expense. That tax break had been scheduled to expire in 2010. Less than 25% of parents currently saving for college have 529 plans, the poll found, and 21% of parents saving for college have never even heard of a 529 plan.
Envestnet Asset Management, which provides Web-based separate accounts, mutual funds, and alternative investments to more than 10,000 advisors, launched its re-branded Web site, www.envestment.com.
