NEW YORK: J.P. Morgan Asset Management Announces Launch of Retirement LinkSM to serve Small-to Mid-Market Retirement Plans
Jun 20, 2012
New York, June 20, 2012: J.P. Morgan Asset Management today launched Retirement Link, a comprehensive retirement offering with alliance partner FASCore, LLC to provide recordkeeping solutions to the small-to mid-sized retirement plan market.
Retirement Link combines the best of J.P. Morgan's innovative plan design, outcome-driven investment solutions, superior client service and leading retirement thought leadership with cost-effective operations and servicing. The offering will leverage FASCore's extensive experience to deliver bundled recordkeeping solutions for small-to mid-sized retirement plans with assets up to $40 million. J.P. Morgan will migrate a portion of its existing small-to mid-sized business to Retirement Link over the coming months. J.P. Morgan Retirement Plan Services also continues to serve its core to- mega clients through its industry-leading proprietary platform.
"The small-to mid-sized plan market is central to the continued growth of our retirement business. Our partnership with FASCore in launching Retirement Link was the result of a thorough evaluation and due diligence process to ensure that we can offer our clients outstanding service and competitive value," said Julia Bates, Managing Director, J.P. Morgan Small-to Mid- Market Retirement Plan business. "FASCore's long-term commitment to the retirement plan market, their industry leadership, high quality employees and processes, and our experience with the company, were primary factors that influenced our selection and the development of Retirement Link."
Charlie Nelson, president of FASCore, said, "We're excited to expand our partnership with J.P. Morgan Asset Management. Their broad distribution, asset management and retirement solution expertise make them an attractive partner. We also applaud their focus on plan sponsor solutions and participant retirement readiness. Both of these initiatives are consistent with our priorities as well."
Press Contact: Charlotte Powell 212-622-4332 | firstname.lastname@example.org
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About J.P. Morgan Asset Management – Retirement
J.P. Morgan Asset Management is a leading comprehensive retirement solutions provider dedicated to improving individual retirement outcomes. J.P. Morgan Retirement Plan Services provides bundled defined contribution services available to plans of all sizes, including more than 650 clients and 1.8 million plan-level participants representing more than $125 billion in retirement plan assets as of March 31, 2012. J.P. Morgan Defined Contribution Investment Solutions manages more than $61 billion in defined contribution assets as of March 31, 2012.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under supervision of approximately $2.0 trillion and assets under management of $1.4 trillion (as of March 31, 2012), 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. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About FASCore, LLC
FASCore, a wholly owned subsidiary of Great-West Life & Annuity Insurance Company, is a leading provider of recordkeeping and administrative services for the defined contribution and deferred compensation market. For more than 40 years, FASCore has provided retirement plan recordkeeping services for 401(k), 403(b), 457 and non-qualified plans of all sizes. It has grown recently by partnering with banks, insurance companies, brokerage firms, money management companies, and other financial institutions to offer private-label recordkeeping services to their plan clients. At March 31, 2012, FASCore record kept 4.5 million participant accounts1.
About Great-West Life & Annuity Insurance Company
Great-West Life & Annuity Insurance Company, headquartered in metro Denver, serves its customers through a range of group retirement savings products and services, individual retirement accounts, life insurance and annuities, and business-owned life insurance. It is an indirect, wholly owned subsidiary of Great-West Lifeco Inc. and "A Member of the Power Financial Corporation Group of Companies" ®.
"A Member of the Power Financial Corporation Group of Companies" is the registered mark of Power Corporation of Canada. Great-West Retirement Services and the Partnership logo are the registered trademarks of Great-West Life & Annuity Insurance Company.
1 Recordkeeping numbers reflect all FASCore customers: those of institutional clients, third-party administrator clients and Great-West Retirement Services.