Paul Curley of ISS Market Intelligence - 529 Plans: How They Work and How They Benefit Investors and Advisors

Episode • Oct 29, 2024 • 38m

In this episode, Rusty and Robyn talk with Paul Curley, Director of Savings Research at ISS Market Intelligence. In his role, Paul oversees 529 and ABLE market data, research, events and digital products and services for institutional clients, including the 529 Conference. Also, an Editor-in-Chief of the 529 Dash e-newsletter and the 529 Insiders website for financial advisers, institutions, and the media, Paul presents educational seminars and conferences to financial industry experts on 529 plans and ABLE accounts.

Key Takeaways

[03:34] - Learn about Paul’s work as Editor In Chief for 529 dash, Director of Savings Research at ISS Market Intelligence and CFA Review Instructor and Practice Exam Writer.
[05:34] - Learn more about what makes ISS Market Intelligence unique and how they operate.
[07:01] - What are 529 Plans and why should investors care about them?
[08:25] - Why are 529 Plans not even more popular, or more widely adopted, than they are?
[09:41] - What are the most significant data points or metrics that parents and advisors should be focusing on when selecting a 529 Plan?
[12:03] - How might recent policy changes affect the usage and appeal of 529 Plans for advisors?
[12:57] - Do most 529 investors buy directly from a 529 Plan or do they go through a financial advisor? Also, what might make 529 Plans more attractive to financial advisors?
[14:49] - How has Paul seen the 529 space evolve over the past decade and what trends are shaping the future of these plans?
[16:07] - What are the biggest challenges facing the 529 industry today? Also, what role does ISS play in helping states and plan providers navigate those challenges?
[18:02] - How does Paul view the shift in investment options available in 529 Plans now?
[20:55] - Has Paul noticed any shifts in the demographic of families using 529 Plans and how is this influencing product offerings or marketing strategies for plan providers?
[22:50] - Does Paul see any emerging alternatives or supplements to 529 Plans, such as innovative funding models or education targeted investment products?
[25:18] - Are there any legislative developments on Paul’s radar that could impact the 529 industry?
[26:50] - How are technology and digital platforms transforming the way people engage with education savings plans? Also, what role does Paul see AI and data analytics playing in the future of education investing?
[29:00] - For listeners who are new to 529 Plans, or who are looking to improve their education savings strategy, what is the one piece of advice Paul would offer?
[30:10] - What is currently Paul’s favorite investment idea?

Quotes

[12:02] - “I would just say that, for additional content as it relates to that ability to distribute over to Roth IRAs, what’s very intriguing is there’s only 0.1% of assets in accounts currently using that capability to roll over from 529s to a Roth. So…the real strong point [here]…is really just reducing that mental hurtle…that’s like ‘what if my child doesn’t go to college?’” ~ Paul Curley

[31:01] - “It’s easier to increase your savings rate by 20% than [to reduce] your living expenses by 20%, if that makes sense at all? So, that’s [my favorite investment idea and] something that I’ve been thinking about recently.” ~ Paul Curley

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Disclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.

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