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Fee Cuts, Socially Aware 529 Investment Options | KRVN Radio

Fee Cuts, Socially Aware 529 Investment Options

Fee Cuts, Socially Aware 529 Investment Options

Nebraska State Treasurer John Murante, First National Bank of Omaha and TD Ameritrade today announced updates to the TD Ameritrade 529 College Savings Plan, effective November 18. The TD Ameritrade Plan is one of four nationally available 529 plans offered by the Nebraska Educational Savings Plan Trust and administered by Treasurer Murante.

Updates to the TD Ameritrade 529 College Savings Plan will reduce the total estimated annual asset-based fees for the Age-Based and Static Options between five to eleven basis points, and changes will be made to reduce the cost of three Individual Investment Options. In addition, along with its core traditional investing options, the plan will begin to offer socially aware options – also known as an Environmental, Social and Governance or ESG offerings.

“Across all four of our plans, the Nebraska Educational Savings Plan Trust is committed to offering high performing and competitively priced investment options,” said Nebraska State Treasurer John Murante. “These fee cuts and socially-aware Investment Options are a strong addition to our 529 plan offerings, in line with our mission to best serve the needs of all Account Owners and their families in their college savings journey.”

“We are proud to be one of the first 529 plans in the country to strengthen the TD Ameritrade Plan to meet the growing demand for socially conscious investing options,” said Deborah Goodkin, Managing Director, Savings Plans, First National Bank of Omaha. “First National Bank of Omaha worked closely with TD Ameritrade to ensure that the ESG options match our high investment standards, empowering Account Owners to realize their dreams for college as well as their personal values.”

The redesigned plan will leverage expertise from portfolio consultant TD Ameritrade Investment Management, LLC (TDAIM) for the Socially-Aware Age-Based and Static Investment Options and will be offered through both direct-to-consumer and registered investment advisor (RIA) TD Ameritrade channels.

The investment structure will remain focused on Age-Based, Static and Individual Investment Options and all funds used in them will be nonproprietary, with no annual maintenance fees and no account minimums. In addition, Age-Based and Static Investment Options will now only consist of passive investments.

“At TD Ameritrade, we are pleased to offer investors ESG options as part of the updated TD Ameritrade 529 college savings plan,” said Dara Luber, senior manager of Retirement at TD Ameritrade. “This will be a welcome improvement for those in the thick of investing and saving college funds for their children who are seeking strategies to better align with both their investing objectives and their values. There is growing demand to invest in companies with stronger ESG practices, particularly among the younger generations.”

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