MFS Fund Distributors
is tapping into Atlanta-based BabyMint's College Savings Accelerator
to let its 6.3 million 529 investors add shares through retail purchases. The MFS 529 Savings Plan is offered through Oregon.
The BabyMint program lets investors receive rebates from retailers, which are then credited to the 529 account. Retailers participating in the program include, Barnes & Noble, Dell, Starbucks, Macy's and the Gap.
"BabyMint is a highly attractive program that helps parents work toward one of their most challenging financial goals -- savings toward their child's college education," says James. V. FitzGerald
, president of MFS Fund Distributors. "By working with BabyMint, financial advisors who work with MFS have access to an excellent tool to help their clients become more disciplined investors without incurring out-of-pocket expenses."
As part of the deal, BabyMint agreed to feature the MFS 529 Savings Plan on its financial advisor web site and to list MFS as a preferred financial provider of 529 saving plans for program participants.
In addition, financial advisors selling MFS funds will receive free membership in BabyMint's Basic Advisor Program, where they have access to BabyMint marketing materials for use with clients and prospects. They will also receive a "substantial" discount for membership in BabyMint's Preferred Advisor Program, which includes a personal listing on BabyMint's consumer site and a starter pack of BabyMint marketing materials, according to BabyMint.
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