Recent Industry News
GTCR Announces Strategic Combination of Ultimus and Gemini
GTCR has entered into definitive agreements to separately acquire Ultimus Fund Solutions and The Gemini Companies in a strategic combination.The combined company, which will operate as Ultimus Fund Solutions, will be a leading provider of full service fund administration, accounting and investor solutions to traditional and alternative fund managers.
3Q 2018 529 and ABLE Data Highlights
Assets in 529 college savings plans rose to $333 billion in Q3 2018, up from $329 billion in the previous quarter. Assets in prepaid plans dropped to $23 billion from $24 billion the previous quarter. There were 29,707 ABLE accounts invested in $144 million, according to new data from Strategic Insight.
American Funds launches first advisor-sold ABLE plan
ABLE America, sponsored by Virginia529, is the first advisor-sold savings plan designed for individuals with disabilities. ABLE plans allow eligible individuals to invest up to $15,000 per year in a tax-advantaged account for qualified disability expenses.