JP Morgan Bolsters Retirement Unit With Hires From Vestwell, Smart

J.P. Morgan Asset Management announced Monday that it has bolstered its retirement division business with hires from savings providers Vestwell and Smart USA Co.

Josh Forstater, formerly head of business development solution design at Vestwell, will take the role of managing director and head of Everyday 401(k), J.P. Morgan’s retirement plan service for small businesses and startups. Tina Anstett, formerly senior ERISA counsel at Smart, will join J.P. Morgan as executive director and ERISA Strategist.

Forstater will join the asset manager after about eight years at Vestwell, where he was one of the firm’s first 10 employees and started as a senior vice president and national sales manager.

Josh Forstater

J.P. Morgan had announced a partnership with Vestwell in May 2023, to be offered as part of its Everyday 401(k) platform. Now Forstater will lead the division in expanding scale and offerings, according to the announcement. He will report to Brant Wong, head of the firm’s retirement platform, in the newly created role.

“Josh’s expertise in leveraging technology and distribution will play an important role in expanding our Everyday 401(k) platform,” Steve Rubino, head of retirement at J.P. Morgan Asset Management, said in a statement. “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 advisers alike.”

Anstett had been with Smart for almost three years, having joined from Equitable, where she was director of product regulatory and sales support for group retirement. Prior to that role, she had been senior vice president and chief legal officer for USI Consulting.

Tina Anstett

At J.P. Morgan, Anstett will lead the firm’s legislative and regulatory thought leadership program with the goal of “further enhancing J.P. Morgan’s Retirement Insights platform,” according to the announcement. She will report to Michael Conrath, chief retirement strategist. Daniel Notto retired from the same role in 2023, according to his LinkedIn profile.

“Tina’s extensive experience with advisers, 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,” Conrath said in a statement. “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.”

J.P. Morgan’s retirement division offers products and services targeting plan sponsors, advisers, consultants and participants. Last year, it launched a target-date fund that includes a guaranteed annuity payout.