New York's 529 Advisor-Guided College Savings Program is a college savings plan sponsored by the State of New York that provides a tax-advantaged way for families to save for the future costs of higher education.
Key features of the Advisor-Guided Program Plan
- With Ascensus College Savings as the program manager and J.P. Morgan Asset Management as the investment manager and distributor, the Plan offers families access to one of the nation's leading 529 plan administrators and the investment expertise of one of the world's most respected financial institutions
- Access to a diversified range of investment options that include underlying funds managed by J.P. Morgan and ETFs from State Street Global Advisors
- New York taxpayers who are Advisor-Guided Plan account owners can deduct up to $5,000 in contributions from New York state income taxes each year ($10,000 if married filing jointly)1
- High contribution limit of $520,000 per beneficiary
- Low initial contribution minimum of $1,000 per account (generally no minimum for Advisor Class units)
- Competitive plan fees
New York’s 529 Advisor-Guided College Savings Program is sold exclusively through financial advisors. Contact your financial advisor to learn more about how the Plan may help you achieve college savings needs. Your financial advisor can help you identify your goals, open an account, select the appropriate investment options and discuss ways to maximize the Plan’s benefits.
1Deductions may be subject to recapture in certain circumstances, such as rollovers to another state’s plan or New York non-qualified withdrawals.
Q. Can I change how my contributions are invested?
A. Federal law allows you to reallocate existing plan assets twice every calendar year or when changing beneficiaries. You can change how future contributions are invested at any time.
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