MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, April 7, 2003 North Carolina Expands Advisor-Sold 529 Plan The North Carolina State Education Assistance Authority, which oversees the state's 529 plan, and College Foundation, the program administrator, have expanded the investment options available within the advisor-sold National College Savings Program. Seligman Advisors continues to distribute the advisor-sold program, which was launched in December of 2001, to brokers and dealers nationwide. The firm is now also selling through MetLife's broker-dealer affiliates - MetLife Securities, New England Securities, Nathan & Lewis Securities and Walnut Street Securities. "We expect both MetLife and Seligman's extensive relationships with advisors to broaden the distribution of the National College Savings Program among families that rely upon professional financial advice," said Dr. Steve Brooks, executive director of the North Carolina State Education Assistance Authority. In addition to Seligman CollegeHorizonFunds, which has been available since inception of the program, three new investment options fill out the advisor-sold choices. They include MetLife Protected Stock Fund, which guarantees principal plus the greater of a minimum interest rate or 70 percent of the price return (excluding dividends) of the S&P 500 Index; the Seligman Aggressive Allocation, which offers the opportunity to allocate among four Seligman equity funds, including Seligman Communications and Information Fund; and Seligman Income Option, which invests in Seligman Investment Grade Fixed Income Fund. "MetLife, which has long been a leading provider of stable value investments to retirement plans, is delighted to be able to expand this type offering to the advisor-sold 529 plan market through the North Carolina Program," said Lew DeRisi, marketing director of MetLife Retirement & Savings. Printed from: MFWire.com/story.asp?s=4905 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |