Key hire cements company commitment to supporting growth of education savings programs across the country
Pursuing an enormous opportunity to guide investors to achieve better outcomes, Orion Advisor Solutions, an established service provider in the 529 industry, signals its redoubled expansion into this space by welcoming Rob Percival, a veteran Ascensus College Savings executive, as the firm’s new Senior Vice President of Strategic Relationships.
Orion Recruits Former Ascensus Executive to Further Expansion Into the 529 Industry
Percival’s hire comes at a time when more American families are taking advantage of 529 plans. According to data collected from the College Savings Plan Network, more than 14.56 million savings accounts hold a cumulative $373.5 billion in assets. At the same time, states demand innovative answers to help meet burgeoning education costs. The average account size remains steady at $25,657, and 36% of savings accounts nationwide take advantage of automatic funding.
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College savings plans have become a top three core initiative for Orion’s investment management business since it began serving state plans in 2014. The firm’s expertise in building and managing portfolios has made it a natural fit for the target-date portfolios comprising 529 plans. Orion has also orchestrated the marketing and distribution of state 529 plans through a multi-channel approach of grassroots efforts, digital outreach, and traditional advertising.
“Orion brings a lot of exciting possibilities to the 529 industry,” Percival said. “In terms of tech-assisted outreach, delivery, and portfolio management, we see huge growth potential. We’re in the perfect position to help families finance their education expenses by applying the innovations Orion has developed in just the last few years.”
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