Changes are afoot at Citi and JPMorgan, with each firm announcing strategic hires to fill new roles to address evolving client needs and industry demands.
On Monday, Citi Wealth announced it has appointed Marc Turansky as head of investment advisory programs within its investment solutions group.
Reporting to Keith Glenfield, Turansky will lead the strategy for expanding fiduciary investment programs and platforms.
"His addition supports our focus on providing our clients and colleagues access to an industry-leading set of investment advisory capabilities across regions to enable the delivery of holistic investment advice," Glenfield, who joined Citi Wealth as its head of Investment Solutions after a relatively short stint leading Merrill's private wealth division in the Northeast, said in a memo shared with InvestmentNews.
“Marc has a strong track record of results and partnership in our industry. I am thrilled to have him as part of the Investment Solutions leadership team for what will be an exciting 2025,” Glenfield said.
Turansky brings over 12 years of experience from JPMorgan Wealth Management, where he oversaw the strategic development of advisory programs, including Rep-as-Advisory and discretionary UMA offerings. Before his time at JPMorgan, which saw significant growth in advisory assets, he held leadership roles across multiple advisory functions at Merrill Lynch.
Meanwhile, JPMorgan Asset Management officially welcomed Josh Forstater and Tina Anstett to its retirement division, which the firm said reflects its focus on enhancing services for plan sponsors, advisors, and participants.
Forstater is coming on board from Vestwell, where he was among the wealth tech provider's first 10 employees. He's joining JPMorgan Asset Management as managing director and head of Everyday 401(k), a service for small businesses and startups.
Reporting to Brant Wong, head of retirement platform, Forstater will focus on scaling the firm's retirement solutions for small businesses. That cohort is set to drive a wave of 300,000 new retirement plans by 2030, according to Steve Rubino, head of retirement at JPMorgan Asset Management.
“Josh’s expertise in leveraging technology and distribution will play an important role in expanding our Everyday 401(k) platform,” Rubino said in a statement Monday.
Anstett, who comes in as an executive director and ERISA strategist, will lead JPMorgan’s legislative and regulatory thought leadership initiatives. A 25-year industry veteran previously with Smart USA Co., she will report to Michael Conrath, chief retirement strategist, as she supports the firm’s Retirement Insights platform.
“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,” Conrath said.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
