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title: Prospecting for Children's Accounts description: [AFW S.8.12] Minor IRAs 529-Plans, UTMA/UGMAs, ABLE Accounts, Adult Children published: true date: 2026-06-30T08:11:33.381Z tags: editor: markdown dateCreated: 2021-09-23T23:07:01.260Z

Watch AF MKOM 1617: Prospecting for Kids' Accounts YOUTUBE VIDEO

Watch Propecting via Kids Accounts overview (2023-08) VIDEO

Visit AFW M.3.2 to familiarize yourself with the in-depth mechanics of the account types listed below. This module is about marketing the various minor accounts.


529-Plans


Your prospecting pool for 529-Plans is very large - any parent who has a child under 18. That's why this is one of the most accessible prospecting methods.


Give Info and Offer to do an Illustration

"Do you have three minutes to hear about a terrific way to save for your kid's college education?"

"I see you have children, may I ask if you have a 529 College Plan for them?"

"A 529-Plan is like a Roth for children's college education. You never have to pay taxes - ever."

"You can open an account for as little as $250 and $50 per month."

  1. Provide the American Funds Unlock a world of possibilities brochure.

  2. Offer run a no-cost, quick illustratoin using the American Funds College Savings Calculator.


Friends & Family Investment Slip

Watch AMF 529-Plan prospecting and certificates VIDEO

Getting your existing clients to invest more is as important (and less work) than developing new clients. This method can help with that, as it is the only account someone other than the account owner can add money to. Your clients can give the instructions below to friends and family if they want to contribute to their child's 529-Plan. For example, an uncle can invest into his niece's 529 instead of buying a birthday gift.

  1. Download pre-formatted 529-Plan Investment Slip.
  2. Fill-in your client's information and email them the PDF.


Include 529-Plan Segment in Your Monthly Client Newsletter

Include some basic information regarding 529-Plans in one of your "product segments" of your monthly client newsletter. Cylce through a different topic each month - I have about 10 - 12 on ratation.

Include: 1. The American Funds Unlock a world of possibilities brochure. 1. Offer to do a free illustration. 1. Mention the investment slip for those who already have 529-Plans.


Corporate 529-Plans


UTMAs

UTMAs allow a parent to save money for a child's future for any purpose. They are no tax-free as 529-Plans but tax-advantaged compared to an account in the parent's name.

Many parents get both a 529-plan and UTMA for their children.


Roth for Kids

Anyone who has earned income can have a Roth IRA. My first client to do a Roth IRA for a child was a one-year old baby that had a modeling gig for the Sear catalog - we invested $2,000 for him and he is a client to this day.

Anytime you meet someone who has a teenage child you should show the parent the power of compouding over such a long time-frame. Use the Goverment Compount Interest Calculator to run a quick calcution for them.


A.B.L.E. Accounts


Your Client's Adult Children


Are You Just Renting the Money?

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Kids' Lunch-and-Learn


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