Wisconsin issues RFP for 529 program manager
Wells Fargo is current program manager pursuant to a contract that expires on October 31, 2012. Wells Fargo has announced that it does not intend to bid.
The management contract is for services to Wisconsin's two direct-sold 529 plans, EdVest and the Tuition Unit Option, and its two advisor-sold 529 plans, EdVest Advisor and tomorrow's scholar. The Tuition Unit Option is a resident-only plan that has been closed to new contributions. EdVest includes a Bank CD option which the program manager is responsible for administering, including transmission of funds to financial services organizations. Total combined assets are over $2.5 billion.