New York's 529 Plan College Savings Program Advisor Plan— sponsored by the State of New York.
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The Comptroller of the State of New York and the New York State Higher Education Services Corporation are the Program Administrators and are responsible for implementing and administering the Advisor Plan. Upromise Investments, Inc. serves as the Program Manager and has responsibility for certain administrative and recordkeeping services for the Plan. These entities are not affiliated with Columbia Management. Columbia Management Investment Advisers, LLC is investment manager of New York’s 529 College Savings Program Advisor Plan. New York’s 529 College Savings Program Advisor Plan and Columbia Funds are marketed and distributed by Columbia Management Investment Distributors, Inc., member FINRA.
No guarantee: None of the State of New York, its agencies, the Federal Deposit Insurance Corporation (FDIC), Columbia Management, Upromise Investments, Inc. or their affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment. The value of your account will vary based on market conditions and the performance of the investment options you select, and may be more or less than the amount you invest. Tax benefits are subject to certain limitations, and certain withdrawals are subject to federal, state and local taxes.
New York’s 529 College Savings Program currently includes two separate 529 plans. The Advisor Plan is sold exclusively through financial advisors who have entered into Advisor Plan selling agreements with Columbia Management Investment Distributors, Inc. You may also participate in the Direct Plan, which is sold directly by the Program and offers lower fees. However, the investment options available under the Advisor Plan are not available under the Direct Plan. The fees and expenses of the Advisor Plan include compensation to the financial advisor. Be sure to understand the options available before making an investment decision.
If you or the beneficiary are a resident or taxpayer of another state, before you invest consider whether your or the beneficiary’s home state offers a 529 Plan with tax or other benefits that are only available for investments in that plan. You should consult your qualified tax advisor.
New York’s 529 College Savings Program Advisor Plan is described in its current applicable Program Brochure and Tuition Savings Agreement. Accounts are opened by completing an Enrollment Application. Call your financial advisor or Columbia Management at 800.774.2108 or visit www.ny529advisor.com to obtain a Program Brochure and Tuition Savings Agreement, which includes the investment objectives, risks, charges, expenses and other important information. Read it carefully before investing. Columbia Management Investment Distributors, Inc., distributor and underwriter.
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On April 30, 2010, Ameriprise Financial, Inc., the parent company of RiverSource Investments, LLC, acquired the long-term asset management business of Columbia Management Group, LLC, including certain of its affiliates, which were, prior to this acquisition, part of Bank of America. In connection with the acquisition of the long-term assets, certain clients of Columbia Management Advisors, LLC (including the Columbia Funds) have a new investment adviser, RiverSource Investments, LLC, which is now known as Columbia Management Investment Advisers, LLC. On the same date, Ameriprise Financial also acquired Columbia Wanger Asset Management, LLC (CWAM). CWAM will continue as the investment adviser for Columbia Acorn and Wanger Funds and no changes are anticipated in the existing investment management team. For those clients that use the services of a subadviser, those arrangements are continuing unless notified otherwise. RiverSource Fund Distributors, Inc., now known as Columbia Management Investment Distributors, Inc., member FINRA, will act as the principal distributor of the Columbia, Wanger, Columbia Acorn, RiverSource, Seligman and Threadneedle branded funds. RiverSource Service Corporation, now known as Columbia Management Investment Services Corp., is the transfer agent for the Funds.