JP Morgan is intensifying its focus on helping advisors navigate the regulatory environment in the retirement planning space.

JP Morgan Asset Management has recruited Daniel Notto as a managing director and ERISA strategist within its retirement solutions group.

ERISA, a federal law, stands for The Employee Retirement Income Security Act of 1974.

Notto is tasked with strengthening the firm's focus on current legislative and regulatory changes, as well as helping inform product strategy and providing updates to plan sponsors and financial advisors on policies that could impact defined contribution (DC) plans.

“From newly enacted laws to pending proposals, reforms and litigation, the legislative and regulatory landscape is continually evolving at a rapid pace. Now more than ever it's critical for DC plans to stay current on policy changes and understand their fiduciary responsibilities,” said Anne Lester, managing director, portfolio manager and head of retirement solutions.

Related issues have indeed bubbled up in the past year after the US Department of Labor proposed a (controversial) new rule that would require anyone or firm providing investment advice to retirement investors to do so as a fiduciary.

“Adhering to the fiduciary standard requires, among other things, putting a client’s interest ahead of your own at all times, and in particular avoiding (as opposed to merely disclosing) conflicts of interest...Hiring resources to focus on understanding and implementing the business practices required to adhere to fiduciary responsibilities certainly makes sense, and should be positive for investors overall,” says Michael Zeuner of WE Family Offices. (As highlighted in a Wall Street Journal article last June, some opponents of the proposed rule believe that it is “unworkable” and might limit investors' choices, while also creating “onerous paperwork to comply with the new regulations.”)

Before joining JP Morgan, Notto was a senior retirement plan counsel at AllianceBernstein and general counsel and consulting practice director at Universal Pensions (now Ascensus). He also worked in the legal department of Investors Diversified Services (now Ameriprise Financial).

At JP Morgan, Notto will report to Lester in the firm's New York headquarters.