thoughts/questions on the NC 529 plan (CFNC) — The Bump
North Carolina Babies

thoughts/questions on the NC 529 plan (CFNC)

I'm not a regular on this board... but Hi!  Loving the weather in central NC today!

My husband and I opened a 529 account for our son shortly after he was born back in January.  We've been really disappointed by and frustrated with CFNC, the plan managers.  We want to explore other tax-advantaged college savings vehicles.  But there doesn't appear to be any other plans that offer the state tax deduction.

[ More detail about why we're dissatisfied... We have about $2000 in V Fund 1, their aggressive growth, target date mutual fund.  It's called Vanguard Life Strategy Growth Fund.  We have our IRAs a different fund that also happens to be called the Vanguard Life Strategy Growth Fund.  We can't get any information about the differences between those funds -- despite the fact that they're trading at dramatically different values.  Customer service has been poor, and we're a bit anxious about the overall lack of information and transparency. ]

Can anyone recommend another plan, fund, or savings vehicle that has the tax advantages of the 529 (for NC residents), but is managed by a more transparent and customer-friendly organization?  We're looking into rolling this money into the Nevada plan administered by Vanguard, but we'd lose the state tax deduction.

Reading this over, we really should talk to a financial planner about this.  Huh?

Re: thoughts/questions on the NC 529 plan (CFNC)

  • My son's 529 is through Banc of America.  It started with $50K in it but I haven't looked to see how it's performing.

    I would definitely talk to a financial advisor about it.  That's also really disappointing to hear that they aren't being very communicative.

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