What is the difference between bright and bright directions?

The biggest difference between Illinois’ two 529 college savings plans is that the Bright Start plan is a direct-sold 529 plan and the Bright Directions plan is an advisor-sold 529 plan.

Do 529 plans have a prospectus?

529 education savings plans have fees and expenses that can vary widely from plan to plan. Additional information about a mutual fund or ETF that is an investment option in an education savings plan is available in its prospectus, statement of additional information, and semiannual and annual shareholder reports.

Is Bright Start Bright directions?

Bright Start Advisor accounts will be converted to higher-rated Bright Directions accounts. Bright Start Direct accounts will feature higher-rated investment options. As a result of the conversion, Bright Directions will become the only advisor-sold plan offered through the state of Illinois.

What is the difference between 529 A and 529 C?

Investors who purchase Class A shares typically pay an upfront sales charge and lower annual fees compared to other 529 plan share classes. Class C shares do not have a front-end sales charge, but come with higher annual fees, often making them a better choice for investors with a shorter time horizon.

Who are the sponsors of the Bright Directions 529 plan?

The Bright Directions Advisor-Guided 529 College Savings Program is sponsored by the State of Illinois and administered by the Illinois State Treasurer, as Trustee. Union Bank & Trust Company serves as Program Manager and Northern Trust Securities, Inc., acts as Distributor.

Is the bright start Advisor 529 a good investment?

In November 2017, the Bright Start Advisor-Sold College Savings Program combined with the Illinois Bright Directions Advisor-Guided 529 College Savings Program. Investments in Bright Start Advisor-Sold College Savings Program accounts were automatically transitioned to the corresponding Bright Directions portfolios.

When do you sign up for Bright Directions advisor?

Bright Directions Advisor-Guided 529 College Savings Program Program Disclosure Statement & Participation Agreement 31 IMPORTANT LEGAL INFORMATION

What is the investment profile of Bright Directions?

Investor Profile: Individual Fund Portfolios are offered for college savers who are utilizing the expertise of their financial advisor to customize their investment strategy. Overview : Bright Directions offers even more choice and flexibility for RIAs and fee-only planners under Fee Structure F.