Manulife Financial is courting advisors to sell 529 college savings plan by rolling out new tools. Its latest is a Web-based calculator designed to compare the client's state's tax deduction for that state's 529 plan versus the tax deduction's for a national plan. The tool is called State Tax Benefit Calculator.

"Manulife’s new state tax calculator offers financial consultants a critical sales tool to help their clients make the right 529 decision," contended Matthew Schiffman, president of alternative wealth management at the firm. "By simply selecting the state of residence, entering a client’s total taxable income and their planned annual contribution to college savings, the financial consultant can easily help clients determine how much their in-state tax deduction is worth to them."

The calculator is available to registered users on the Manulife site. The site also includes sales tools and an UGMA/UTMA calculator intended for consultants.  

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