<p>As reported in [url=<a href=“http://www.forbes.com/work/feeds/ap/2004/11/24/ap1675832.html]Forbes[/url”>http://www.forbes.com/work/feeds/ap/2004/11/24/ap1675832.html]Forbes[/url</a>] and elsewhere, regulators are investigating several firms who sell college savings investments, specifically 529 plans.</p>
<p>Apparently, the feds interest has been triggered by the sale of a high percentage of out of state plans in some areas. Usually, in-state plans would be expected to offer the best deals in terms of tax deductions and other benefits for in-state investors. Presumably, the investigators want to find out if the recommendations made by sales people at investment firms are influenced by higher commissions on some plans.</p>
<p>American Funds and Edward Jones & Co. are among the firms that have been contacted for more information about their 529 sales practices.</p>