(June 17, 2014) – Consultant Diane Improta, an expert in the 403(b) savings vehicles used by universities, has joined Rocaton Investment Advisors as a managing director.
Improta’s move brought to a close a nearly 16-year career with another Norwalk, Conn.-based investment consultancy, Hewitt EnnisKnupp. She served as a member of its defined contribution leadership team, and led the firm’s 403(b) practice.
“It’s an extremely challenging and rewarding area,” Improta told aiCIO during her interview for the 2013 Knowledge Brokers list. “We’re dealing with some of the smartest folks out there—investment committee members who write CFA [chartered financial analyst] textbooks or research behavioral economics, for example.”
Many post-secondary institutions professionalized the management of their retirement schemes following the financial crisis, and Improta has seen much progress from there. “University 403(b) plans are already ahead of the curve with retirement income options.”
Rocaton’s Head of Defined Contribution Chris Lyon pointed to Improta’s expertise in this area as a motivation for the hiring.
“Diane’s reputation and knowledge of the 403(b) market, combined with her broader experience across plan types, make her an excellent complement to our team,” he said.
Improta will work closely with Lyon and Managing Director Jeri Savage to advise Rocaton’s defined contribution clients, which together represent approximately $150 billion.
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