Commonwealth Savers
Commonwealth Savers is a privately held, Richmond, Virginia-based financial services firm founded in 1966 that provides 529 college savings plans and related savings programs to help individuals and families prepare for future education and financial needs.
- Company typePrivate
- Founded1966
- HeadquartersRichmond, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Commonwealth Savers does
Commonwealth Savers is a privately held, for-profit financial services firm headquartered in Richmond, Virginia, founded in 1966. The company provides consumer savings programs—most prominently 529 college savings plans—designed to help individuals and families prepare for education expenses and other future financial obligations. With a current headcount of 51–100 employees, Commonwealth Savers operates as a small-to-mid-sized participant in the U.S. retail education-savings market, serving individual retail savers rather than institutional clients. The firm's public footprint is anchored by its website (commonwealthsavers.com); no additional distribution channels, partner networks, or app/SDK offerings are disclosed in the available data.
The core product is 529 plan administration, a tax-advantaged, state-sponsored education savings vehicle. No underlying technology architecture, platform components, integration partners, or proprietary systems are documented. Product breadth beyond 529 plans is not detailed in the source data, though the company's short description references complementary savings programs tied to future financial needs, suggesting a focused rather than diversified product surface.
The revenue model is not explicitly disclosed but is presumed to follow standard 529 program-management economics—asset-based fees on assets under management, fixed program-management fees, or a hybrid of both—earned under contracts with state agencies or plan sponsors. Pricing is not publicly disclosed. Go-to-market likely combines direct-to-consumer acquisition, financial-advisor distribution, and state partnership channels, but none of these mechanics are documented. Customer segments are individual retail savers, with no segment-mix data, named accounts, or concentration metrics available.
Commonwealth Savers firmographics
Firmographics- Name
- Commonwealth Savers
- Website
- https://commonwealthsavers.com
- Company type
- Private
- Founded year
- 1966
- Headcount range
- 51–100 employees
- Short description
- Commonwealth Savers is a privately held, Richmond, Virginia-based financial services firm founded in 1966 that provides 529 college savings plans and related savings programs to help individuals and families prepare for future education and financial needs.
- Ownership category
- akta.pro rank
Commonwealth Savers industry classification
Industry- Product category
- Education Savings Plans
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (52218), Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Savings Automation & Goal-Based Savings (FSAGADAC)
Keywords
Where Commonwealth Savers is headquartered
LocationHeadquarters
- HQ city
- Richmond
- HQ country
- United States
- HQ region
- North America
Markets served
Commonwealth Savers business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Commonwealth Savers product offering
Product offeringCore offering
Commonwealth Savers provides savings programs, including 529 plans, to help individuals plan for education and future financial needs. The company focuses on education-savings vehicles targeted at individual savers and families preparing for future tuition costs.
Differentiator
Problem solved
Functional benefit
Products and services
- 529 Education Savings Plan
- Education and Future Financial Needs Savings Programs
Companies that use Commonwealth Savers
Customer profileIdeal customer profiles1 record
Commonwealth Savers technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Commonwealth Savers competitors and assessment
Company assessmentOthers
- College Savings Plans Network (CSPN): Industry association representing 529 plan administrators and state program managers. Comparable as an ecosystem participant in the 529 market that Commonwealth Savers operates within, though it is not a competing product.
Direct peers
- ScholarShare 529 (California): California's official 529 college savings plan, one of the largest by AUM. Comparable state-sponsored 529 offering with similar goal-based savings structure and target market of families saving for higher education.
- Virginia529 / Virginia College Savings Plan: Virginia's official 529 college savings program, headquartered in Richmond, VA. Most directly comparable to Commonwealth Savers in geography, product (529 plans), and target audience of Virginia families saving for education.
- Bright Start 529 (Illinois): Illinois-sponsored 529 college savings program. Comparable as a state-administered education savings plan with a similar product structure and target market of in-state families.
- New York 529 (NY529) / NY's 529 College Savings Program: New York State-sponsored 529 college savings plan offering goal-based education savings. Directly comparable as a state-sponsored 529 program with similar structure, target market, and product design.
Broad incumbents
- Vanguard: Major asset manager offering 529 college savings plans in multiple states. Comparable through its 529 product offerings and target market of long-term savers, though its portfolio spans a much broader range of investment products.
- Fidelity Investments: Large national asset manager that offers its own 529 college savings plans and acts as program manager for several state plans. Comparable through its 529 product offering and broader personal finance/savings capabilities, though it serves a much wider customer base.
- Charles Schwab: National broker-dealer offering 529 college savings plans. Comparable through its 529 plan offerings and target market of retail investors saving for education, though its product portfolio is much broader.
Emerging players
- Upromise: 529-focused rewards and savings platform that helps families earn contributions to 529 plans through everyday spending. Comparable through its focus on 529 savings accumulation, though it operates more as an enabling/rewards layer rather than as a direct plan administrator.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights5 records
Customer concentration
Commonwealth Savers social profiles
Digital presenceCommonwealth Savers financial estimates
Financial estimateRevenue estimate
Valuation estimate
Commonwealth Savers leadership team
Management profileNumber of profiles
Commonwealth Savers funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Commonwealth Savers M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Commonwealth Savers
What does Commonwealth Savers do?
Commonwealth Savers provides savings programs, including 529 plans, to help individuals plan for education and future financial needs. The company focuses on education-savings vehicles targeted at individual savers and families preparing for future tuition costs.
When was Commonwealth Savers founded?
Commonwealth Savers was founded in 1966. It employs 51 to 100 people.
Where is Commonwealth Savers based?
Commonwealth Savers is headquartered in Richmond, United States, in the North America region.
Who are Commonwealth Savers's main competitors?
College Savings Plans Network (CSPN) is listed as an others. Direct peers are ScholarShare 529 (California), Virginia529 / Virginia College Savings Plan, Bright Start 529 (Illinois) and New York 529 (NY529) / NY's 529 College Savings Program. Broad incumbents are Vanguard, Fidelity Investments and Charles Schwab. Upromise is listed as an emerging player.
Does Commonwealth Savers have an API?
No public API is recorded for Commonwealth Savers.
What industry is Commonwealth Savers in?
Commonwealth Savers's product category is Education Savings Plans. Its primary akta.pro industry code is FSAGADAC, Savings Automation & Goal-Based Savings. Its NAICS code is 52218 and its SIC code is 6036.