The Hartford Enhances WV 529 College Savings Program

The Hartford announced several changes to the 529 College Savings Program it manages for the State of West Virginia.

The changes include a new relationship with Upromise Investments, including an enhanced account management platform with Ugift – Give College Savings and the Upromise service; and the introduction of new age-bands in the age-based portfolios for the SMART529 plans.   

According to the announcement, the addition of Upromise Investments as the account management platform for plans administered by The Hartford gives financial advisers and account owners an interface to monitor and make changes to their college savings plans. Account owners also will have the opportunity to increase their college savings through two programs: Ugift and the Upromise service.   

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Ugift allows account owners to invite family and friends to celebrate a child’s birthday or other milestones with a gift contribution to a SMART529 account.   

Upromise is a service that helps families earn money towards college from everyday spending such as buying gas and groceries, dining out and shopping online. When Upromise and SMART529 accounts are linked, the earnings are automatically transferred on a periodic basis to become college savings. Families and friends can help by joining Upromise and directing their savings to the Upromise account of another member.   

The Hartford SMART529 and SMART529 WV Direct have also realigned the age-bands within the age-based portfolios and increased the number of age-bands to five from four.   

The lineup now includes: 

  • The Hartford SMART529 Age-Based Portfolio 0-8; 
  • The Hartford SMART529 Age-Based Portfolio 9-13; 
  • The Hartford SMART529 Age-Based Portfolio 14-15; 
  • The Hartford SMART529 Age-Based Portfolio 16-17; and 
  • The Hartford SMART529 Age-Based Portfolio 18+. 

 

More information is here.

Navix Offers a Way “Out” for Business Owners

Business owners looking to move on to a different life stage now have a new option.

 

White Horse Advisors, LLC has unveiled a 14-step process for business value creation and exit planning.

The process, termed Navix by the Atlanta, Georgia-based firm, provides a framework for White Horse Advisors’ exit planning clients to chart a course for their business and personal goals.

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According to a press release, the 14-step process takes business owners from the initial determination of exit strategy, through risk management, tax and succession planning, and eventually to life after exit. 

“Exit planning is the conscious effort to grow your business in a manner that can efficiently convert ownership into personal financial freedom and confidence,” said Patrick Ungashick, president of White Horse Advisors. “In our experience, most business owners have more than half of their personal net worth tied up in the business and its supporting assets. Navix identifies and implements strategies designed to maximize business value and tax-efficiently extract that value for personal financial freedom.”

White Horse Advisors, LLC is an independently-owned provider of financial advisory services to owners of closely-held businesses and retirement plan sponsors.

For more information on Navix, visit www.whitehorseadvisors.com.

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