This is not possible. It is not possible to construct a 529 savings plan like a fund supermarket within the current legislative framework. A 529 savings plan is a state-sponsored municipal security where the underlying investments are unitized. The more options the plan offers, the more expensive it is to administer the plan. For this reason you generally see a limited lineup that addresses sufficient asset classes to create a simple, diversified portfolio.
You may find more complex investment lineups in advisor-sold plans, with individual funds that can be selected in a custom asset allocation mix. There are also a few plans targeted at RIAs, such as those from iShares (Arkansas) and SSGA (Nevada), that will have more robust offerings of low-cost index portfolios that will let you create a more customized allocation.
Thank you,
Brian Boswell
VP, Research & Development
This information does not constitute tax advice and is provided for informational purposes only. Please consult your tax advisor, financial advisor, local taxing authority, and/or plan provider or sponsor for more information.