The Future Scholar 529 College Savings Plan from the Bank of America is now available for sale through the broker/dealer channel, a spokesperson with the firm told the MutualFundWire.com. The plan is administered by the State of South Carolina.

"We provided our service through the direct channel at the request of the state," the spokesperson reported, "but our operating model is through the advice channel. This is the space that makes the most sense to us."

The firm will be getting the word out to advisors, both those in its proprietary advisor channel (approximately 750) and those outside it, through a number of marketing efforts as well as advertisements in trade publications.

"We feel that the advisor channel is the appropriate channel for selling a 529 plan," he continued. "There are a lot of other educational savings products out there. It is simply the kind of investment vehicle that you have to sit down and get some help with."

The platform offers nine stand-alone portfolios that span the style spectrum, ranging from a focused equity portfolio to a stable capital portfolio. There are also six asset-allocation portfolios and an automatic allocation choice that shifts assets from an aggressive growth portfolio to a more conservative, income-oriented portfolio as the beneficiary reaches college age. Nations Funds supplies the investment vehicles.

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