Investors can rein in college savings plan fees
Parents looking to save for their children’s college educations face a threshold question. When opening an investment account known as a 529 plan, should they choose a plan on their own or rely on a financial adviser? The latter option comes with the benefit of professional advice. But investors should be aware that the price can be steeper than they might expect. A study shows that higher fees of adviser-sold plans end up costing more than two-and-a-half times as much over a decade, compared with direct-sold plans.