State-sponsored 529 college savings programs shoulder many responsibilities related to the successful ongoing execution of their program, such as monitoring operational processes, and enhancing participants’ online experience in order to attract new accounts and increase contributions to existing ones. These obligations may be overwhelming and daunting, which is why they turn to firms like Ultimus for their program’s administration. Our focus is to improve operational efficiency and enhance the overall experience for both the state and 529 plan participants, all at a competitive price.
The Ultimus Difference
In addition to being a service provider, we are your partner. We are close to the Registered Investment Adviser community and deeply understand how to successfully distribute and market retail investment products. We are much more than just an administrator.
Ultimus offers you and your participants comprehensive and engaged personal services. We are strong believers in innovative technology, which can improve your interactivity with your participants and connect you with a new generation of savers.
529 Plan Services
Increasing plan participation is a major 529 plan policy objective, putting a large focus on the enrollment and service experience, as well as marketing and distribution to increase awareness and plan reach. Accordingly, Ultimus in collaboration with carefully selected industry partners, offers both marketing leadership, investment management, program management services, and supplemental support for 529 plans, and can act as the named distributor to support sales efforts and marketing compliance.
Specifically, through our shared services model, Ultimus can provide your plan many valuable services including:
Governance and fiduciary solutions
Participant servicing and recordkeeping
Back and middle office function support
Regulatory compliance and oversight to meet industry standards and best practices
Full agency-level range of marketing support in a lead or supplemental capacity
Providing non-proprietary investment line-ups as the named adviser or with third party investment advisers
Custody and trading services
Dedicated client service for advisers and investors
Website, Mobile, and Robo-Adviser
Ultimus’ 529 participant web portal is mobile friendly, easy to navigate, and includes transactional and video capability.
For state sponsored 529 programs moving plan administration over to Ultimus, we have established a highly effective implementation process and built an experienced transition team to move the program seamlessly and swiftly.
The state-sponsored 529 community has welcomed Ultimus’ services for these savings plans. We participate in the College Savings Plans Network (CSPN) and the College Savings Foundation (CSF), which, among others, allow for strategic thinking across the community, and are integral to the advocacy of 529 and ABLE (Achieving a Better Life Experience) plans, as well as other state-sponsored initiatives.