NextGen 529 (Client-Direct)
The NextGen College Investing Plan Client Direct Series in Maine offers a direct and customizable approach for families saving for education expenses. Managed by Merrill Lynch and operated by the Finance Authority of Maine, this plan provides a wide range of investment options, including age-based portfolios and individual fund choices. It stands out with its flexibility, allowing account holders to directly manage their investments and tailor their portfolio based on their risk tolerance and investment preferences. The plan also offers potential state tax benefits for Maine residents, including state income tax deductions on contributions, further enhancing its appeal. Additionally, the NextGen College Investing Plan Client Direct Series provides convenient online account management, making it easy for account holders to monitor and manage their investments.
EnrollState Tax Incentive
None
Program Manager
Vestwell State Savings
Investment Manager(s)
Blackrock, iShares
Plan type
Direct
Investments
Guided Investments
age-based
ESG Investments
Yes
Avg. expense fee
0.260%
Fee Range
0.00% to 0.51%
Ratings
Backer Rating
Our rating is based on fees and tax savings advantages.
45%
for ME residents
45%
non-residents
Saving For College
Unbiased, independent resource for parents.
4.5
for ME residents
4.5
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 a direct sold 529 plan, rated as neutral by Morningstar.
