Hartford Courts College Plans in Other States

March 24, 2008

After a year of record growth, Hartford Financial Services wants to expand its 529 college savings business over the next two years by increasing sales and, perhaps, in what would be a shift in strategy, by becoming a plan sponsor in another state. Last year, the Simsbury, Conn., company increased its 529 college savings plan sales a record 29.5%, to $250 million, and its 529 plan assets under management 21%, to $1.1 billion. Now it says it will start examining requests for proposals to determine if it wants to become a provider for states other than West Virginia, whose plan it has sponsored since 2002.

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