The Essentials of 529 Plans and Investing in College with Mike Dunlop

In today’s episode, Rusty and Robyn talk with Mike Dunlop, CEO of Intuition College Savings Solutions, LLC.  Before his 25-year stint in the financial services industry, Mike served in the Royal Navy for 12 years. Out of the Navy, he took several roles in the financial services industry including financial advising and portfolio managing. Mike’s current organization is at the leading edge of the prepaid and college savings industry and he continues to push education and training initiatives as CEO.  Mike talks with Rusty and Robyn about the specifics of 529 plans, the student debt crisis, and the impact of investing in college. "I think we’re starting to see a period that the industry has grown. It’s gotten quite a decent size now that people are paying attention. Some of the big heavyweight companies in the industry are involved. Innovation is good. How do we pay for college as opposed to taking debt to pay for college? I think savings and creating the right savings vehicles are becoming more apparent.” ~ Mike Dunlop Main Takeaways  With $1.6 trillion in student debt and its subsequent economic impact, the college savings plan approach is a way to help alleviate some of the current downsides of funding education.  Although contributions are not deductible, earnings in a 529 plan grow federal tax-free and will not be taxed when the money is taken out for college. Some states offer tax deductions if you plan to invest. You can also take advantage of other benefits such as estate planning purposes and transferable beneficiaries. You can choose between direct-sold and advisor-sold 529 plans. The direct-sold 529 offers a cheaper, DIY approach. The advisor-sold 529 plans have access to professional advice on positioning portfolios and holistically developing the client’s financial wellbeing. Links Mike Dunlop on LinkedIn Britannia Royal Navy College Adele - Skyfall Merrill Lynch Bank of America Fidelity Investments Drexel University Morningstar Saving For College Harvard University Secure Act Bitcoin Wall Street Journal Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2649-OPS-10/13/2021

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Orion’s The Weighing Machine How does Orion help financial advisors guide investors toward their financial goals? We provide the services and solutions advisors need to help clients stay invested in balanced portfolios. On Orion’s “The Weighing Machine,” featuring Orion Chief Investment Officer Rusty Vanneman, CFA, CMT, BFA, we cut through the market clamor and focus on time-tested principles that help financial advisors and investors reach their long-term financial goals. Each podcast reviews weekly commentary by Orion’s investment team and features a special guest to discuss market headlines. Wealth Management services are offered by Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. Orion Portfolio Solutions, LLC is a wholly owned subsidiary of Orion Advisor Solutions, Inc. (“Orion”). The CFA®️ is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. To learn more about the CFA charter, visit www.cfainstitute.org. The CMT Program demonstrates mastery of a core body of knowledge of investment risk in portfolio management. The Chartered Market Technician®️ (CMT) designation marks the highest education within the discipline and is the preeminent designation for practitioners of technical analysis worldwide. To learn more about the CMT, visit https://cmtassociation.org/. Think2perform’s Behavioral Financial Advice program integrates traditional finance practices with psychology and neuroscience to improve emotional competency and decision-making behavior that increases effective usage of the financial plan with clients. To obtain the Behavioral Financial Advisor (BFA) designation, participants must complete a self-directed course, which takes 20-30 hours to complete, and includes a mix of interactive exercises, videos and case studies. To learn more about the BFA, visit https://www.think2perform.com. 0503-OPS-3/4/2024