Edvest Receives Bronze Rating from Morningstar Inc. ™

Morningstar

We’re excited to announce that the Edvest College Savings Plan was upgraded to a Bronze rating by leading investment research and management firm, Morningstar, Inc. ™

As part of the firm’s annual review of the largest 529 college saving plans, Edvest’s 2014 rating improved from Neutral to Bronze; one of only three new programs to join the bronze-rated group this year.

Why does this matter?

The Morningstar rating is a forward-looking, qualitative ranking that evaluates college savings plans based on five key pillars – Process, Performance, People, Parent and Price.

Designed to help families save for higher education expenses, Edvest is consistently working to ensure plan options meet the evolving needs of account holders. Program upgrades made since October 2012 include:

  • State tax benefits on contributions are now indexed with inflation and for 2014, the first $3,050 qualifies, up from $3,000 last year
  • Increased access to include 22 different investment options, across investment styles ranging from principal-protection to age-based options
  • On average, lowered fees 66 percent so that Edvest ranks among the nation’s lowest fee 529 plans for the second year in a row
  • Improved online and digital access – making it easier for individuals to obtain information, set up accounts and manage funds at com and stay informed at Edvest’s Facebook page , Twitter feed and YouTube Channel
  • Introduced online eGifting – allowing family and friends to contribute online, securely and free of administrative fees

The Bronze ranking from Morningstar comes on top of the 5-Cap Rating, which Edvest received in June from SavingforCollege.com. A 5-Cap Rating indicates a 529 program that offers outstanding flexibility, attractive investments and additional economic benefits. SavingforCollege.com also recently ranked the Edvest College Savings Plan as 7th in the nation in 12-month performance.

“We’re honored with Edvest picking up a second national award this year,” said James DiUlio, director of the Wisconsin 529 College Savings Program. “Morningstar recognized the mix of investment choices, low fees, and tax benefits that make Edvest a wise choice for families here in Wisconsin, as well as nationwide.”

 

In an annual review of the largest 529 college-savings plans (64 total), Morningstar identified 29 plans that rose above their typical peers, awarding those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2014. These forward-looking, qualitative ratings signal Morningstar’s conviction in the plans’ abilities to outperform their relevant benchmark and peer groups on a risk-adjusted basis over the long term. Morningstar evaluates college-savings plans based on five key pillars–Process, Performance, People, Parent, and Price. Gold- and Silver-rated plans are those that Morningstar analysts consider the most appealing to college savers, with reasonable fees, strong investment options, and capable oversight. Analysts award Bronze ratings to those plans that also have attractive features, although these plans don’t garner as much conviction as the Gold- and Silver-rated plans. Before establishing a 529 account and making contributions, it is imperative that investors read and understand all enrollment materials and disclosures from the programs.