Saturday, June 22, 2024

Ascensus and T. Rowe Price form partnership for 529 plans

T. Rowe Price Partners with Ascensus to Enhance 529 Education Savings Experience

Are you looking to save for your child’s education but unsure where to start? T. Rowe Price, a leader in investment management and retirement services, has just announced an exciting new partnership with Ascensus to enhance the 529 education savings experience for account holders.

On 529 day, T. Rowe Price revealed that Ascensus will take over recordkeeping and account servicing responsibilities for its four state-sponsored 529 plans. This collaboration aims to provide account owners with a more streamlined and user-friendly experience, thanks to Ascensus’ advanced servicing technology and expertise in managing state-sponsored education savings programs.

With over 6.5 million 529 plan savers and $200 billion in assets under administration, Ascensus is a trusted name in the industry. The company’s recent acquisition of three small-business focused retirement plan lines from Vanguard further solidifies its position as a leader in retirement and education savings administration.

The partnership between T. Rowe Price and Ascensus promises several key enhancements for 529 plan account owners, including a dedicated mobile app, an improved online platform, and an enhanced gifting platform. These upgrades are designed to make it easier for families to manage their savings, contribute to their accounts, and make payments to educational institutions.

As one of the most respected investment management firms in the world, T. Rowe Price brings strong investment management and secure account services to over 675,000 529 plan account owners. With the added support of Ascensus, account holders can expect a seamless and efficient experience when saving for their children’s education.

If you’re considering opening a 529 plan but are unsure of the benefits, a recent survey by Edward Jones highlights the advantages of these accounts. Tax benefits, flexibility, and the ability to pay for qualified education expenses are just a few reasons why respondents are inclined to enroll in a 529 plan.

With T. Rowe Price and Ascensus joining forces, now is the perfect time to start saving for your child’s future education. Take advantage of the enhanced features and benefits offered by this partnership and secure a brighter future for your loved ones.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The content is based on general research and may not be accurate, reliable, or up-to-date. Before making any financial decisions, it is recommended to consult with a professional financial advisor or conduct thorough research to verify the accuracy of the information presented. The author and publisher disclaim any liability for any financial losses or damages incurred as a result of relying on the information provided in this article. Readers are encouraged to independently verify the facts and information before making any financial decisions.

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