According to a press release from JPMorgan, the two hires are part of a plan to get more asset flows into 401(k), individual retirement accounts (IRA) and pension accounts.
Musto formerly worked in a senior management position at Prudential Retirement and in addition to his time at Merrill Lynch, Dial held a national sales manager post at the Princeton Retirement Group.
“The retirement plan business is likely to generate the vast majority of investment flows over the next twenty years,” said George Gatch, chief executive officer of JPMorgan Funds, in the press release. “In an intensely competitive environment, our unique advantage is our ability to leverage the strong relationships and product capabilities that serve the retirement marketplace across JPMorgan Chase, and the investment only portion of this business in particular has become a key area of focus within asset management.”
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