Liberty Financial Cos. is gearing a new promotional campaign toward helping parents save for their children's education.
The Boston-based mutual funds company is providing banks with brochures it created to help parents develop an investment plan to cover college costs.
Liberty is making the brochures available to all its investment executives in bank branches, said William Rice, a Liberty spokesman.
While banks are not obligated to use the brochures, Mr. Rice said that so far "the feedback from banks has been very positive."
The free college planning guide is part of Liberty's Young Investor Program, a marketing campaign launched this summer.
"The Young Investor Program is probably one of our best-received campaigns," Mr. Rice said.
With promotional materials about mutual funds vying for space in bank branches, Liberty is trying to set itself apart.
"We're moving toward providing different types of promotional materials," he said.
Since people have traditionally turned to banks for financial information, they provide an ideal outlet for getting the message out that parents need to start saving promptly for their children's education, he said.
"Unless parents and children begin saving and planning for education costs early, a whole generation of youngsters could be denied what has become regarded a a fundamental birthright," said Kenneth R. Leibler, president of Liberty Financial Cos.
The Liberty Financial Funds are sold primarily through banks. The fund family includes a range of conservative offerings, including a U.S. government bond fund, a growth and income fund, a utilities fund, and two tax-free bond funds. Assets under management are over $1.5 billion.
