Are you an "advice-giving financial professional?"

If so, please take a brief quiz consisting of one question.

Quiz: Suppose that one of your clients, a grandmother, tells you the following: "I would like to help my grandchild by making small annual contributions toward her college fund. She's 14 years old and I'm thinking about putting a little money aside for her benefit in the 529 Plan of our state. I know that a 529 Plan is a good way to save for college with tax advantages but I'm concerned about one thing. Her parents are struggling financially. She's a brilliant girl and probably will be admitted to a good college, but she will need financial aid. I would rather not jeopardize her ability to qualify for financial aid."

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.