Golden State ScholarShare
College Savings Trust, State of California

“Launching a New Financial Product”

Challenge: Implement proposed new statewide financial
product, an IRS-qualified 529 plan, designed to help parents (and others) save for their children’s college education.

Strategy: Developed budget, obtained legislative approvals, issued Request for Proposal and selected key vendors. Publicized concept and benefits through statewide public relations and advertising campaign across 13 media markets. Focused on benefits of product (tax-deferred growth of assets) and unique benefits of specific program (lowest fees, broadest choice of investment options, low minimum deposits).

Results: Successfully launched state program and built it to 20,000 accounts and assets of more than $80 million within the first nine months.