Financial Research Corporation (FRC) has selected NewRiver’s FundPoint Data for 529 Plans to help provide better insights into the makeup and changes within all 529 plans available to advisors and investors.
FRC will leverage NewRiver’s 529 data to expand their customer reports and further their research and strategic consulting services. Because NewRiver updates information related to every plan from all states and issuers daily, FRC customers will be able to get richer reporting and analysis on both advisor-sold and direct-sold savings-type 529 college plans which total more than 110 state plans and over 4,500 investment options.
Backed by NewRiver’s process technology for sourcing plan data, FundPOINT 529 Data offers a streamlined, centralized approach to accessing 56 data points – improving operational efficiency, accuracy, and compliance adherence. More specifically, called, FundPOINT 529 Data is used to:
Provide important disclosures to customers; Perform 529 transaction edits and supervision; Provide background information for completion of 529 applications; Calculate fees and commissions; and Verify breakpoints and state tax advantages.
Larry Petrone, CFA, Director of Research of Financial Research Corporation:
“Using NewRiver’s FundPOINT 529 Plan Data, our customers will now be able to get richer analysis and more detailed reporting on these plans. In this rapidly evolving industry, this relationship greatly enhances our existing repository of 529 data by providing the most up-to-date information on fee structures and underlying investment options.”
Len Driscoll, Chief Client Officer at NewRiver:
“FRC has a long-history of providing fund advisors and investment companies with unique insights into the changes occurring in mutual funds and other investment products. We are pleased FRC has selected our solution and look forward to providing them with the broadest and most timely source of 529 plan information which they can provide, through analysis, to their customers.”
L.D.