Morningstar has launched its new 529 Plan Center on MorningstarAdvisor.com, the firm's website for financial advisors. The site will offer both editorial content and industry-specific data, which is provided by SavingforCollege.com.

The website will offer the following information on every 529 plan:

• state tax -- tax information on contributions and qualified withdrawals,
• maximum and minimum contributions,
• and operations -- sponsoring state, investment managers, eligibility for non-residents, and mandatory fees.

"529 Plans are the most convenient and cost-effective means for clients to save for their children's college expenses. With nearly 40 states offering unique plans, choosing the right one has become an arduous task for advisors," explained Chris Boruff, president of Morningstar's advisor business. "MorningstarAdvisor.com's new 529 Plan Center offers a database of detailed information on these plans, allowing advisors to rank them by certain characteristics and easily compare their options." 

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