Since the company's inception in 2002, Upromise Investments has focused on providing plan management, administration, and marketing services to state and investment partners and families saving for college.
Key to the development of the company was the creation of our technology platform, Unite, which was optimized to support the specific needs of the 529 industry. Unite's open architecture and customization provide a flexible platform for integrating back office and marketing systems, as well as hosting a variety of investment firms. The platform enabled Upromise Investments to administer its first 529 plan in 2002 - the Upromise College Fund 529 Plan, in conjunction with the State of Nevada. Other plans soon followed, including New York's 529 College Savings Program, the first direct 529 plan ever to undergo a conversion to a new program manager.
Industry expertise
Over the years, Upromise Investments has developed a comprehensive team of 529 and investment industry experts with experience in launching and converting over 30 college savings plans. These professionals span a range of functional areas, including client service, development, operations, legal/compliance, reconciliation, implementation, marketing, and relationship management.
Proven track record of successful conversions
The first critical step in a 529 plan's administration comes with the conversion from a prior plan manager to the new one. The success of a conversion generally revolves around coordination, resources, and, above all, processes that are detailed to the smallest item. Only if every link in the chain is strong - management, technology, operations, and legal - can these large, complex projects be performed smoothly.
Upromise Investments has worked extensively with state and business partners to complete a broad variety of successful, timely, and accurate plan conversions. As a result of performing 18 successful conversions - more than any other provider in the industry - we have the resources and expertise required for precise transitions. Conversions have ranged from 3,300 records to more than 250,000 records in a single weekend.
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