J.P. Morgan Asset Management Strengthens Retirement Business with Strategic Hires

Rhea-AI Summary

J.P. Morgan Asset Management has announced two strategic hires to strengthen its retirement business. Josh Forstater joins as Managing Director, Head of Everyday 401(k), where he will lead the expansion of retirement plan services for small businesses and startups. Forstater, previously from Vestwell, brings extensive experience in technology and distribution.

Tina Anstett joins as Executive Director, ERISA Strategist, bringing over 25 years of industry experience. She will lead the firm's legislative and regulatory thought leadership program, enhancing J.P. Morgan's Retirement Insights platform. The appointments align with J.P. Morgan's projection of 300,000 new retirement plans by 2030, primarily from small businesses.

Positive

• Strategic expansion into small business retirement market with projected 300,000 new plans by 2030
• Strengthening of regulatory compliance and thought leadership capabilities through experienced ERISA specialist hire
• Enhancement of technological capabilities in retirement services through expertise from fintech sector

Negative

• None.

Experienced Retirement Experts Josh Forstater and Tina Anstett Join the Firm

NEW YORK, Jan. 6, 2025 /PRNewswire/ -- J.P. Morgan Asset Management today announced that Josh Forstater and Tina Anstett have joined the firm in key leadership positions on the Retirement team. These strategic hires reflect J.P. Morgan Asset Management's dedication to providing innovative solutions and insights to support the evolving needs of retirement plan sponsors, advisors, consultants, and participants.

Josh Forstater will serve as Managing Director, Head of Everyday 401(k), a retirement plan service for small businesses and startups, where he will lead efforts to expand and scale the firm's offering. In this newly created role, Josh reports to Brant Wong, Head of Retirement Platform. Mr. Forstater joins from Vestwell, a leading workplace retirement and savings platform, where he was one of Vestwell's first 10 employees and had roles successfully leading the firm's Business Development and Workplace Sales & Distribution organizations.

"Josh's expertise in leveraging technology and distribution will play an important role in expanding our Everyday 401(k) platform. With projections of 300,000 new retirement plans by 2030, primarily from small businesses, J.P. Morgan is committed to providing retirement solutions that meet the evolving needs of small business owners and advisors alike," said Steve Rubino, Head of Retirement at J.P. Morgan Asset Management.

Tina Anstett joins as Executive Director, ERISA Strategist, bringing over 25 years of industry experience. In this role, she reports to Michael Conrath, Chief Retirement Strategist. She will lead the firm's legislative and regulatory thought leadership program. This initiative will provide timely and educational content, further enhancing J.P. Morgan's Retirement Insights platform. Previously, Ms. Anstett was with Smart USA Co., where she supported the design and delivery of ERISA fiduciary oversight services and provided regulatory guidance for their retirement plan technology development initiatives.

"Tina's extensive experience with advisors, plan sponsors, and key industry stakeholders uniquely positions her to guide our clients through the regulatory and legislative complexities of the expanding defined contribution marketplace. Her insights will be invaluable in maintaining J.P. Morgan's leadership in delivering timely and relevant information to our clients and partners as they navigate the evolving landscape to provide retirement solutions" said Conrath.

Biographies

Josh Forstater is a Managing Director and the Head of Everyday 401(k) for J.P. Morgan Asset Management's Retirement Team in New York. In this role, he leads distribution efforts for the Everyday 401(k) platform, J.P. Morgan's retirement plan product geared toward small business clients.

Prior to joining J.P. Morgan, Josh served as Managing Director and Head of Business Development & Solution Design at Vestwell, a fintech and industry leader in retirement, 529, and ABLE plans. He was one of the first 10 employees at the company and held different positions within the firm leading and scaling business development, retirement plan distribution, partnerships, and product management. Before that, he held roles as Vice President of Institutional European Equity Sales at Nomura Securities and as a Finance Analyst at Deutsche Asset Management.

Josh holds an MBA from Columbia Business School and dual undergraduate degrees in Finance and Philosophy from Villanova University.

Tina Anstett is an Executive Director, ERISA Strategist for J.P. Morgan Asset Management's Retirement Insights Team in New York. In this role, she oversees the development and delivery of retirement insights, focusing on the regulatory and legislative landscape.

Previously, Tina served as Chief Legal Officer and Head of Fiduciary Services at Smart USA Co. (Smart), where she supported the design and delivery of Smart's ERISA fiduciary oversight services, provided regulatory guidance for their retirement plan technology development initiatives, and offered general legal and governance support to Smart and its subsidiaries. She also sat on the Board of Directors of Smart's subsidiary Smart Retirement Solutions, Inc. (SRS) and was a member of the SRS Fiduciary Oversight Committee. Before joining Smart in 2022, Tina was Director, Advanced Markets-401(k), and later Director, Product Regulatory and Sales Support within Equitable's Group Retirement business. Prior to Equitable, she served as Chief Legal Officer for USI Consulting Group.

Tina holds a BA from New York University, a JD from Western New England University School of Law and is a member of the Connecticut Bar.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $3.5 trillion (as of 9/30/2024), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information, visit: www.jpmorgan.com/am

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.2 trillion in assets and $346 billion in stockholders' equity (as of 9/30/2024). The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

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SOURCE J.P. Morgan Asset Management

FAQ

What is JPM's projection for new retirement plans by 2030?

J.P. Morgan projects 300,000 new retirement plans by 2030, primarily from small businesses.

What is JPM's Everyday 401(k) initiative?

Everyday 401(k) is J.P. Morgan's retirement plan service specifically designed for small businesses and startups.

Who are the key strategic hires made by JPM for its retirement business in 2025?

J.P. Morgan hired Josh Forstater as Managing Director, Head of Everyday 401(k), and Tina Anstett as Executive Director, ERISA Strategist.

How will JPM enhance its retirement regulatory compliance capabilities?

Through the appointment of Tina Anstett as ERISA Strategist, who will lead the firm's legislative and regulatory thought leadership program.

What experience does Josh Forstater bring to JPM's retirement business?

Forstater brings experience from Vestwell, where he was among the first 10 employees and led Business Development and Workplace Sales & Distribution organizations.