Feb 02, 2010
--- J.P. Morgan Asset Management has combined all of its defined contribution investment-only (DCIO) specialist resources into a single unit, DC Investment Solutions. ---
The new group combines all of the DCIO groups across JPMorgan Asset Management, including separate retail and institutional sales groups, as well as some resources in the retirement plan services business in Kansas City, according to a J.P. Morgan spokesperson.
According to an internal announcement from last month, DC Investment Solutions will include four teams (Intermediary Sales, Plan Sponsor Sales, Platform Sales, and Business Development) and will be headed by David Musto. The group is based in New York, but has regional presence with national sales representatives. The internal memo said the team will better equip J.P. Morgan Asset Management’s “retail and institutional businesses to gather investment-only defined contribution assets” and “will also partner closely with Retirement Plan Services to develop and share DC thought leadership and best practices for selling our investment capabilities.”
The Intermediary Sales team, led by Glenn Dial, supports the coverage of retirement intermediaries and recordkeeper sales organizations in partnership with J.P. Morgan's retail sales teams. The team is responsible for directly targeting high-end DC advisers/intermediaries (delivering firm insights, tools, and products); covering recordkeeper sales organizations to uncover opportunities and influence investment selection; and partnering with Plan Sponsor Sales to better lever adviser and platform relationships in institutional opportunities.
The Plan Sponsor Sales team supports investment sales opportunities with plan sponsors in partnership with the Institutional sales teams. The team is responsible for delivering DC expertise and resources in collaboration with Institutional Client Advisors to enhance the targeting and closing of more DC investment sales opportunities; facilitating an efficient/effective sales and onboarding process on DC investment deals; and partnering with Intermediary Sales and Consultant Relations to increase the strength and impact of relationships with advisers and consultants.