SMART529 are offered by the West Virginia Prepaid Tuition and College Savings Program Board of Trustees and administered by Hartford Life Insurance Company. According to a release, the electronic application is based on National Securities Clearing Corporation (NSCC) technology, which the firm uses for its mutual fund business.
The product also includes technology to provide online education for advisers, plus resources for them to help build their businesses, The Hartford said. In addition, The Hartford SMART529 Plan has opened up a 529 share class to serve registered investment advisers (RIAs) who have firm selling agreements for The Hartford SMART529 plan.
The Hartford said that in light of demand to go paperless from broker/dealer firms, it has responded by rolling out a streamlined application. The paperless tool is available for broker/dealer firms that have an NSCC agreement with The Hartford.