RESOURCES FOR FINANCIAL ADVISORS
NextGen 529 Helps You Help Your Clients
NextGen 529 is an important resource to help your clients plan for one of the most important investments they will make—higher education expenses for someone they love. NextGen 529 offers robust investment options, flexibility, and tax advantages such as tax-free growth, Maine’s $1,000 tax deduction, and gift tax benefits.
And, if your client or their beneficiary is a Maine resident, there are matching grants available to boost their savings.
Year of Enrollment Portfolios
We’ve transitioned our current Age-Based Enrollment Portfolios to Year of Enrollment Portfolios, to help current and future savers manage risk with additional flexibility.
FOR ADVISORS
Find Support
The following information and resources are for non-Merrill advisors.
INVESTMENT OPTIONS AND PERFORMANCE
The Select Series offers a comprehensive set of investment options managed by BlackRock and sub-advisors including Franklin Templeton, MFS, American Century, Lord Abbett, MainStay, and Neuberger Berman, as well as stable value options.
SELECT SERIES FORMS & SUPPORT
Need a form for account servicing? We’ve got them.
For questions about your clients’ accounts:
Call: 833-336-4529
Monday – Friday, 8:00 a.m. – 8:00 p.m. ET
For Back Office questions, call: 877-332-2371
ONLINE ACCESS
Need to visit a client account? Get online access to client NextGen 529 accounts below through Active Advisor.
For help with the Active Advisor web portal:
Call: 877-546-5412
Monday – Friday, 9:00 a.m. – 5:30 p.m. ET
Or email: activeadvisor@bnymellon.com
Merrill advisors can get tools and resources directly from Merrill.
TTY / TRS: Individuals with speech or hearing disabilities may dial 711 to access Telecommunications Relay Service (TRS) from a telephone or TTY.
529 College Savings Can Be Rolled Into a Roth IRA
Starting in 2024, when 529 account owners find themselves with leftover funds, those funds can be transferred to a Roth IRA, subject to certain limitations.
About the NextGen 529 Select Account
NextGen 529 is Maine’s Section 529 plan. The plan is administered by the Finance Authority of Maine (FAME). Vestwell State Savings is the program manager. BlackRock Advisors is the Investment Manager. The Select Series is sold through financial advisors.
Want to Sell NextGen 529?
If your organization would like to sell interests in NextGen 529 and service NextGen 529 accounts, you’ll need to establish an agreement with BlackRock.
Resources for Your Clients
Help your clients learn about saving for higher education with these resources.
FAME’S FREE RESOURCES
The Finance Authority of Maine (FAME) administers NextGen 529 and also helps Maine families prepare for higher education. Share FAME’s FREE resources and tools with your clients. From planning to saving to paying for school, FAME has resources that can help all along the way.
COLLEGE SAVINGS GUIDE
Higher education is one of the most important investments your clients will make. Help your clients understand the ins and outs of saving for higher education. We’ve pulled together a series of articles about planning and paying for education after high school.
GRANTS FOR MAINE RESIDENTS
It’s Good to Be a Mainer
There’s grant money available for Maine residents. These grant programs can really boost your savings.1
$500 Alfond Grant for Maine Babies
$100 Initial Matching Grant
$100 Automated Funding Grant
30% NextStep Matching Grant
1Grants for Maine Residents are linked to eligible Maine accounts. An Alfond Grant recipient is eligible to receive the $100 Initial Matching Grant if the minimum required initial contribution is made before the beneficiary’s first birthday. Upon withdrawal, grants are paid only to institutions of higher education. See Terms and Conditions of Maine Grant Programs for other conditions and restrictions that apply. Grants may lose value.
2The Alfond Grant is not automatic in all circumstances and is also available in limited other circumstances. The use of the Alfond Grant is also subject to certain restrictions – see Alfond Grant Guidelines.
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