One financial adviser from RBC Wealth Management said, “I would think that 529s would be part of financial planning for affluent parents, especially with the tax benefits.  We certainly recommend them, and as a vehicle, I’ve found them to be solid gold.”

So why aren’t more parents saving for college through this great tax vehicle?  Having worked with financial advisors for ten years, the first thing I thought of was: the commissions must be low.  Indeed, there is a general lack of enthusiasm among advisers because of the relatively low commissions the plans generate.  (In our opinion the commissions embedded in the adviser-sold 529 are already too high – costing you hundreds or even thousands over a few years.)  So the problem comes down the education and distribution.  It is a great financial product that so many parents can benefit from.  We at 2SmallFish are working hard to make it easy and truly a no-brainer.