Ascensus/Goldman Sachs Named New AZ529 Advisor Plan Provider
Arizona State Treasurer Kimberly Yee and the Arizona State Board of Investment (BOI) unanimously approved Ascensus College Savings Recordkeeping Services, LLC (Ascensus) to serve as the new program manager/recordkeeper for the AZ529 advisor sold plan and Goldman Sachs Asset Management, L.P. to serve as the asset manager and distributor of the plan.
The BOI approved an initial 5-year agreement with a 2-year extension upon mutual agreement. Transition of plan accounts and assets are expected to occur by the end of June 2022 from Ivy Investments, which has served as an AZ529 advisor program manager since 2001, and began transitioning accounts after its parent company, Macquarie declined to extend its AZ529 program manager contract.
Return to 529 News centerThe BOI approved an initial 5-year agreement with a 2-year extension upon mutual agreement. Transition of plan accounts and assets are expected to occur by the end of June 2022 from Ivy Investments, which has served as an AZ529 advisor program manager since 2001, and began transitioning accounts after its parent company, Macquarie declined to extend its AZ529 program manager contract.