Growing your business with corporate 529 plans

Corporate 529s: Good for businesses and employees alike

Just like families, many corporations love the idea of having easy access to a 529 college savings plan. As a result, the biggest challenge for financial professionals is making sure corporate clients are aware of 529 plans and their potential benefits.

Many corporations have been focused on health care, so offering 529 plans as a benefit may not be top of mind. Lunch-and-learns and other types of education programs for HR staff are a great way to increase 529 visibility and consideration. Broader financial education for employees, as well as education on 529 plans in particular, can help open the door to many other opportunities. 

Presentation preparation

Before presenting a 529 plan to corporate clients, financial professionals should do their due diligence on the following topics:

It's very important to know the details of not only the benefits of a 529 plan, but also how the chosen college savings plan compares with other plans. It's also critical to specifically detail how you as a financial professional will help support the 529 program benefit in terms of increasing enrollment, educating employees, and providing communications.