CollegeBound 529 (Advisor-Sold)

The CollegeBound 529 Advisor-Sold is a 529 plan available in Rhode Island that provides families with the guidance and expertise of a financial advisor when saving for higher education expenses. One unique aspect of this plan is its advisor-sold structure, allowing individuals to work with a financial advisor who can provide personalized investment advice and support. The plan offers a variety of investment options, including age-based portfolios and individual fund options, giving account holders the flexibility to customize their investment strategy. It offers tax advantages, such as tax-free growth and tax-free withdrawals for qualified education expenses. Additionally, Rhode Island residents may be eligible for a state income tax deduction for contributions made to the plan, further maximizing savings potential. The CollegeBound 529 Advisor-Sold plan aims to assist families in efficiently saving for their educational goals with the help of a financial advisor.