PlanAnalytics Unveils Free Online Tool for Advisers Comparing Section 529 College Savings PlansSearch529 gives financial advisers a fast, convenient way to connect clients with college savings options MENDOTA HEIGHTS, Minn., Jan. 23, 2003 -- PlanAnalytics, the parent company of Search401k, today launched Search529, a Web-based tool that enables financial advisers to quickly and efficiently compare the wide range of section 529 college savings plans now offered by all 50 states. The new service, which is free to advisers, can generate dynamic comparisons of all available section 529 plans, based on the unique needs of an adviser's individual or corporate client. Advisers are then able to download pre-completed applications for their clients' beneficiaries. "Because the 529 market is new and complex, adviser groups and individual financial advisers are struggling to find effective ways to help clients compare the wide range of available section 529 plan options," said Tom Plumb, president and chief executive officer, PlanAnalytics. "Our research shows that 529 plans are a critical piece of an adviser's business. We believe we've created an invaluable tool that will gain widespread acceptance among financial advisers trying to balance research time with client demands for high-quality college savings plan options." Named after the IRS code that created them in 1996, section 529 college savings plans are state-sponsored, plans that allow individuals to invest in a pool of stocks and bonds for tax-advantaged college savings. The online Search529 service catalogs more than 70 state-sponsored 529 plans and offers enrollment options on many of the leading plans. Financial adviser groups and program managers adopting Search529 include: AIM, Alliance Fund Distributors Inc., American Funds, Delaware Investments, Manulife, MFS Investment Management, Raymond James & Associates and Robert W. Baird & Co. "With the 529 market growing as quickly as it is, Search529 has the ability to help advisers tremendously," said Susie Bauer, assistant vice president, 529 Specialist, Robert W. Baird & Co. "Advisers can use the tool to meet expanding consumer demand while also identifying the best available section 529 products, based on a client's needs and goals." For financial advisers, Search529 provides a convenient and comprehensive way to learn more about the 529 marketplace, download sales and enrollment materials and conduct due diligence on section 529 products. For 529 program managers, Search529 is a cost-effective e-distribution platform that can help increase conversion rates, reduce costs, expand current distribution systems and increase access to trend and research information. How It Works Typically, financial advisers can spend several weeks researching and selecting a 529 plan that fits a particular client's needs. With Search529, this process can be reduced to 15 minutes or less. Search529 collects 529 plan data then applies the "common denominators" necessary to compare the information. The result is information that is uniform from program manager to program manager -- allowing for fast, easy comparisons. Search529 then makes the processed data available to advisers free-of-charge via its Web site at www.search529.com. To use the Search529 Web site, financial advisers enter specific information about the client and beneficiary they represent and, within seconds, can view a list of available 529 plans. The adviser can then run a comparison for up to three plans at a time as well as see expense and performance information. A financial adviser can also download pre-completed enrollment forms from respective plan providers with just a click of a mouse. The Search529 Web platform includes a number of helpful tools: -- Comparison Tools: Search an updated database of all section 529 products that match a client's or prospect's needs. -- Downloadable Enrollment Materials: Pre-completed enrollment forms from multiple program managers are available online via the Search529 site and can be completed in 15 minutes or less. -- 529 Guide: An up-to-date, Web-based guide to the vast range of products offered by all the nation's section 529 program managers. -- 529 Resources: Offers the latest 529 news and calculators as well as updated information from the Municipal Securities Rulemaking Board (MSRB), the organization that helps regulate financial firms and banks involved in underwriting, trading and selling municipal securities. About PlanAnalytics PlanAnalytics delivers sales and servicing tools to financial advisers, financial adviser groups and product suppliers. The company focuses on e-distribution as a key strategy to provide products and services to financial advisers that simplify and streamline the marketing, sales and procurement processes for benefits, investment and other adviser-sold products. For adviser groups, these products and services provide enhanced management and marketing tools to maximize product sales within the adviser group's organization. For product suppliers, the company offers a cost-effective extension of existing distribution channels and can be a valuable marketing research tool.
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CONTACT: PlanAnalytics, Inc., Mendota Heights
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