Gemini Joins Forces With Texas 529 College Savings Plans

HAUPPAUGE, N.Y., July 29, 2014 /PRNewswire/ -- Gemini Fund Services, LLC (Gemini), an engaged partner to independent advisors as a provider of comprehensive, pooled investment solutions, is collaborating with parent company NorthStar Financial Services Group, LLC (NorthStar), in an agreement with the Texas Prepaid Higher Education Tuition Board to help manage three of the state's four 529 college savings plans—the prepaid Texas Tuition Promise Fund^®, the direct-sold Texas College Savings Plan^® and the advisor-sold LoneStar 529 Plan^®.

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Gemini provides fund administration, accounting and transfer agent services to the three qualified tuition plans, as well as assistance with shareholder record-keeping and customer service. These services are designed to make the Texas 529 plans, which offer tax-advantaged, low-maintenance and flexible options for individuals to save money for higher education expenses, more operationally efficient while also positioning them for scalable long-term growth.

"We have helped advisors launch, manage and market successful products for over 30 years, and we look forward to applying our industry expertise and cutting-edge technology to growing the qualified tuition plans in Texas and other states," said Andrew Rogers, Chief Executive Officer of Gemini. "The comprehensive services we offer work hand-in-hand with those of our sister companies to empower 529 plans to raise more assets and achieve strong returns for the individuals who rely on them to save money for higher-education expenses."

Gemini is a wholly owned subsidiary of NorthStar.  NorthStar, through the coordinated efforts of its operating subsidiaries, including Gemini, Northern Lights Distributors, LLC (NLD), and CLS Investments, LLC (CLS), is able to provide the Texas 529 plans with a comprehensive program management solution.  In addition to the administration, accounting and transfer agency services offered by Gemini, NLD will provide the plans with distribution, sales, and marketing services, while CLS provides assistance with portfolio management, analytics, and trading. NLD will utilize Blu Giant, a division of NorthStar, to provide marketing solutions through their multi-disciplinary approach to hypermedia, including branding, social media, video and web. Constellation Trust Company, a NorthStar affiliate, as the custodian for the 529 plans, will provide new account set up, trade file submissions, data reconciliation, and reporting back to the affiliated companies.

For media inquiries, please contact Jami Schlicher at 973-850-7309 or [email protected]. 

About Gemini Fund Services, LLC

Gemini Fund Services, LLC (www.geminifund.com) provides comprehensive, pooled investment solutions as an engaged partner to independent advisors. Gemini serves as a strategic partner and resource to advisors that want to bring their own, unique investment vehicles to market, including mutual funds, exchange-traded funds, funds on insurance platforms and more. As a full-service firm, Gemini provides the administration, accounting and technology that advisors need in order to launch and market successful products. With over 30 years of experience creating and servicing funds, Gemini brings years of industry knowledge and insight to help advisors achieve the vision of their product and deliver the most extensive range of solutions to clients.

The Texas College Savings Plan^®, the Texas Tuition Promise Fund^® and the LoneStar 529 Plan^® are established and maintained by the Texas Prepaid Higher Education Tuition Board, and, as of Sept. 2, 2014, distributed by Northern Lights Distributors, LLC member FINRA and SIPC.  NorthStar Financial Services Group, LLC, the parent company of Northern Lights Distributors, LLC, is the Plan manager and administrator of the Plan, effective Sept. 2, 2014.

Some states offer favorable tax treatment to their residents only if they invest in the state's own plan.  Non-residents of Texas should consider whether their state offers its residents a 529 plan with alternative tax advantages and should consult their tax advisor.  Interests in the Plan are not deposits or other obligations of any depository institution.

Before investing in the Texas College Savings Plan^®, investors should carefully consider the investment objectives, risks, administrative fees, service and other charges and expenses associated with municipal fund securities. The Plan Description and Savings Trust Agreement contains this and other information about the Plan and may be obtained by visiting www.texascollegesavings.com or calling 1.800.445.GRAD (4723), Option #3. Investors should read these documents carefully before investing.

Before investing in the LoneStar 529 Plan^®, investors should carefully consider the investment objectives, risks, administrative fees, service and other charges and expenses associated with municipal fund securities. The Plan Description and Savings Trust Agreement contains this and other information about the Plan and may be obtained by visiting www.lonestar529.com or calling 1.800.445.GRAD (4723), Option #4. Investors should read these documents carefully before investing.

Before investing in the Texas Tuition Promise Fund^®, investors should carefully consider the investment objectives, risks, administrative fees, service and other charges and expenses associated with municipal fund securities. The Plan Description and Master Agreement contains this and other information about the Plan and may be obtained by visiting www.texastuitionpromisefund.com or calling 1.800.445.GRAD (4723), Option #5. Investors should read these documents carefully before investing.

5954-GFS-7/25/2014

SOURCE Gemini Fund Services, LLC