Use more than one back office service provider
my529 has expanded direct data feed capabilities for advisors whose clients have my529 accounts.
Advisors with limited power of attorney authorization on their clients’ my529 accounts have been able to select a back office service provider for direct data feeds.
Now my529 allows you to select more than one back office service provider. For example, if you use one application for performance reporting and a separate application for client interactions or planning, you will be able to have direct data feeds into each system. Previously, you had only been able to select one.
To connect to one or more direct data feeds, the Master Administrator (MA) for the firm needs to:
- Log in to my529 Account Access
- Click Back Office Service Providers on the lower left side menu
- If the firm has already connected to a data provider, the MA will click Change Providers
- Select the provider(s) the firm would like to use and click Continue
- Read and accept the Terms and Conditions
- Choose either “Select All Owners/Beneficiaries” or “Manually Select Owners/Beneficiaries” to be included in the data feed. Note: The “Select All” option would automatically add any new accounts to the feed going forward.
- Click Save
- After setting up the data feed in Account Access, be sure to reach out to your representative at your selected back office service provider(s). Provide them your LPOA number and let them know you would like to start receiving my529’s data feeds.