Bright Directions (Advisor-Sold)
The Bright Directions Advisor-Guided 529 College Savings Program in Illinois offers unique features to assist families in saving for education expenses. Managed by Union Bank & Trust Company, this plan provides personalized guidance from financial advisors to help account holders navigate their investment choices. It offers a variety of investment options, including age-based portfolios and individual fund choices, allowing for customization based on risk tolerance and investment preferences. The plan also provides potential state tax benefits for Illinois residents, including income tax deductions on contributions, adding to its appeal. Moreover, the Bright Directions Advisor-Guided 529 plan offers convenient online account management.
EnrollState Tax Incentive
$10,000 single / $20,000 joint beneficiary
Program Manager
UBT
Investment Manager(s)
Vanguard, Blackrock, Fidelity, DFA, T. Rowe Price
Plan type
Advisor
Investments
Guided Investments
age-based and target-enrollment-portfolios
ESG Investments
No
Avg. expense fee
0.455%
Fee Range
0.16%-0.68%
Ratings
Backer Rating
Our rating is based on fees and tax savings advantages.
65%
for IL residents
39%
non-residents
Saving For College
Unbiased, independent resource for parents.
4.5
for IL residents
4
non-residents
Morningstar Rating
Once a year, the financial services firm Morningstar releases its 529 ratings.
Other
Connect with Mint.com
Track your finances in one place.
No
Connect with Backer
Full end to end enrollment, gifting and plan management.
Gifting Only
Mobile app
Backer App covers this plan.
No
General Recommendation
This is an advisor sold 529 plan, rated as bronze by Morningstar.
