has bought its way into the hot 529 college savings plan arena. The firm is purchasing College Savings Bank
. Khanh T. Tran
, executive vice president and chief financial officer for Pacific Life, said that the firm plans to offer mutual funds and College Savings Bank's CollegeSure CD as investment options in its program.
The Princeton, New Jersey-based bank has just $308 million in assets and was founded in 1987. Its CollegeSure CD is a part of the Montana Family Education Savings Program.
The bank also holds the www.collegesavings.com URL on the Web. The acquisition will open the regional bank's product up for national distribution through Pacific Life's network of financial planners.
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