Fidelity wins bid for California 529 manager selection
According to a report in the San Francisco Chronicle, Fidelity will develop a broker-sold plan for California in addition to direct-sold options.
The direct-sold plan would have at least 13 investment options, including both index and actively-managed funds. Program fees are expected to be lower under Fidelity. The broker-sold plan would have 17 investment options.
Fidelity current manages 529 plans in Arizona, Delaware, Massachusetts, and New Hampshire.