In addition to mutual funds, these investment products are also available.
529 plans provide families a tax-advantaged, flexible way to help prepare for the future costs of higher education. These plans can help with college expenses like tuition, books, and room and board at schools across the country, and even some schools abroad.
Some of the advantages these plans offer to investors include:
- Earnings in your account grow federal and potentially state tax-free.
- Qualified withdrawals are federal and potentially state tax-free.
- Contributions up to $3,000 per eligible beneficiary may be deductible from Wisconsin state income per year.
- Contributions up to $65,000 may be excluded from federal gift tax pro-rata over a five-year period.
- Completed gifts are considered removed from your estate for tax purposes, while as the account owner, you still retain control of the account.
Flexible Contribution Options
- Start building an account with an automatic investment plan (AIP) or payroll direct deposit of just $15 a month for EdVest or $25 for tomorrow's scholar.
- A low initial contribution of only $250 is needed to open an account; this is waived with an AIP.
- Up to $330,000 can be contributed for a single beneficiary.
- Invest using a check, electronic funds transfer, federal wire, AIP, or payroll deduction.
Professional Money Management
- Investment options include a wide variety of portfolios with underlying investments from leading financial firms.
- Wells Fargo Funds Management is the administrator of the programs.
- The money can be used at thousands of schools across the country – including graduate schools; it can also be used at some schools abroad.
- Accounts can be opened for any beneficiary, including yourself.
- Covered expenses include a wide range of costs including tuition, fees, books, and even room and board.
Wells Fargo Managed Account Services offers a program of professionally-managed portfolios made up of individual securities and is geared to meet the investment needs of sophisticated investors and institutions. The comprehensive lineup of separately managed strategies takes advantage of the expertise of the same investment teams who manage some of the most popular Wells Fargo Advantage Funds. The managers apply the same time-tested philosophies, strategies, and processes to the managed accounts.
Wells Fargo Managed Account Strategies include:
- All Cap Value Equity
- Cooke & Bieler Large Cap Value Equity
- CoreBuilder® Government Securities
- CoreBuilder® Municipal Income
- Diversified Small Cap Growth Equity
- Fundamental All Cap Growth Equity
- Fundamental Balanced Select Growth Equity
- Fundamental Large Cap Select Growth Equity
- Fundamental Mid Cap Growth Equity
- Fundamental Mid Cap Select Growth Equity
- Fundamental SMID Cap Growth Equity
- Golden Large Cap Core Equity
- Golden Mid Cap Core Equity
- Golden Small Cap Core Equity
- Golden SMID Cap Core Equity
- Heritage All Cap Growth Equity
- Heritage Large Cap Growth Equity
- Heritage Small-Medium Cap Growth Equity
- Large Cap Dividend Growth Equity
- MetWest Capital International Value Equity
- MetWest Capital Large Cap Intrinsic Value Equity
- MetWest Capital Small Cap Intrinsic Value Equity
- Small Cap Value Equity
- SMID Cap Value Equity
- Social Sustainability Equity
- Strategic Large Cap Growth Equity
- U.S. Equity All Cap Equity
Variable Trust Funds
The Wells Fargo Advantage Variable Trust
(VT) funds are offered as an option in the variable annuity platforms of many leading insurers. Our VT fund lineup includes a variety of asset classes and investment styles, providing ample opportunity to meet the diversification needs of any variable annuity portfolio. The funds are managed by some of the same investment teams who manage the Wells Fargo Advantage Funds
open-end mutual funds. The managers apply the same time-tested philosophies, strategies, and processes to the VT funds.
Any tax or legal information in this Web site is merely a summary of our understanding and interpretations of some of the current income tax regulations and is not exhaustive. Investors should consult their tax adviser or legal counsel for advice and information concerning their particular situation. Wells Fargo Funds Management, LLC, Wells Fargo Funds Distributor, LLC, nor any of their representatives may give legal or tax advice.
The Variable Trust Funds are generally available only through insurance company variable contracts.