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American Century Sells 529's Via Advisors, Expanding Beyond Direct & Schwab


American Century Investments of Kansas City, Mo., has begun selling its 529 college savings plans through financial advisors. Previously, American Century's Learning Quest Education Savings Program was only available directly through the company or Charles Schwab.

"We found the tax, estate and legal implications and many choices were far too complicated for many people and that they really need advice," said American Century spokeswoman Beth Randolph Taylor. As a result, fund companies are increasingly turning to advisors to help investors make the right 529 college savings choices, Taylor says. American Century will allow investors to select from front-, level- and back-end commissions.