BNY Mellon has expanded its relationship with ING U.S. Investment Management (ING U.S. IM) to provide fund accounting and administration, custody and transfer agency services for the Wisconsin Tomorrow’s Scholar 529 Plan and the Iowa Advisor 529 Plan.
As manager for these two programs, ING U.S. IM handles investment, product, marketing, sales and distribution, customer service and recordkeeping activities.
The Wisconsin 529 plan encompasses 39 investment options with more than 121,000 shareholder accounts and approximately $1.4 billion in assets. The Iowa 529 plan encompasses 22 investment options with over 38,000 shareholder accounts and approximately $150 million in assets.
“As the cost of higher education continues to rise, it’s no surprise that college tuition has become one of the biggest concerns investors face today,” said Michael J. Roland, managing director and chief operating officer for ING Funds. “Savings vehicles like 529 plans are becoming increasingly popular, and our goal is to provide these options as a way to help advisors and their clients meet their investment objectives with confidence.”
BNY Mellon Expands Services for ING's 529 Plans
BNY Mellon has expanded its relationship with ING U.S. Investment Management (ING U.S. IM) to provide fund accounting and administration, custody and transfer agency services for the Wisconsin Tomorrow's Scholar 529 Plan and the Iowa Advisor 529 Plan.