Updated July 28 at 9:39pm

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financial services

Fidelity cuts program-management fees

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BOSTON – Fidelity Investments has reduced program-management fees from .15 percent down to .09 percent on some direct-sold 529 plans, according to a press release.

A 529 plans is a tax-advantaged savings programs operated by a state or state agency that can be used for tuition, books and other education-related expenses.

“Parents are working hard to save for college and Fidelity is committed to providing college

savings plans that offer great value alongside trusted guidance, to help families reach their college goals,” said Keith Bernhardt, vice president of college savings at Fidelity. “Lowering our fees means that more of our customers’ money can go directly toward their children’s education.”

The index portfolio fee reduction applies to all Fidelity-managed direct-sold plans including

The UNIQUE College Investing Plan, Fidelity’s nationally distributed plan, offered by the state of New Hampshire; the Massachusetts U Fund College Investing Plan; the Delaware College

Investment Plan, and the Fidelity Arizona College Savings Plan.

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