Deals & PeopleSeptember 16, 2010

Putnam Investments Chosen as Nevada’s 529 Provider

<span>Putnam Investments will serve as program manager for Nevada’s 529 College Savings Plan, sold nationwide through financial advisers, effective October 1.<span> </span></span>

Reported by Nicole Bliman

State Treasurer Kate Marshall and the Nevada College Savings Plans Board made their selection because of several appealing characteristics of the program, according to a statement.

The Putnam program includes a tuition payment analysis tool to help families and individuals–working with their advisers–understand the college savings process. And for the advisers, they will be able to access all their clients’ 529 plans through one portal, as well as offering investment strategy guidance.

The State of Nevada, through the Treasurer’s Office, currently offers several direct-sold 529 college savings plans, including the Upromise College Fund 529 Plan, Vanguard 529 College Savings Plan and the USAA College Savings Plan. Putnam has spent more than a decade serving the 529 college savings market through advisers in a partnership with the State of Ohio.