Tricia scarlata, Head of 529 Education Savings on Influential Women

Influential Woman · College planning

Tricia scarlata

Head of 529 Education Savings, J.P. Morgan Asset Management

New York, NY

Certifications · Degrees · Memberships

Member PTA in Garden City

Her Story

About Tricia

I've been in marketing and education planning for about 25 years, and what really inspired me to go into this field was becoming a mother. I started in the education planning space when I was first pregnant with my first child, and being a parent made me see the importance of planning for college because it's so expensive and not easy to do. Back then, college planning wasn't getting anywhere near the publicity or the audience that it is today, and I realized how important it is to educate families on why they should be planning as early and often as possible. Now I run all the marketing and the business, both on the business and the marketing side, for JP Morgan's 529 education savings business. A big passion of mine today is seeing the impact that planning for college has on people's retirement - last year, 41% of families in one way, shape, or form borrowed against their retirement to pay for college. As a parent, you'll do anything for your child, including putting your own retirement in jeopardy. My team and I created a guide called College Planning Essentials, and that's at the forefront of everything we do - educating families and trying to set them up so that they don't ruin their retirement and they also don't riddle the child with debt. I have a neurotypical child and a child with autism, and I've been a leader in trying to get plans expanded so that we recognize that not every child's journey is the same and that we still need to and should be planning for children's possibilities. We've reframed the way that we market and sell these plans, really more about planning for possibilities - that journey for your particular child is going to be unique, but we can meet you where you're at. I came back to work at JP Morgan 13 years ago after being home for 10 years, and they knew when they hired me that I had a child with needs and that it could be challenging at times. They gave me flexibility when flexibility was unheard of, and not only did they accept me coming back from being on a little bit of a sabbatical, but they also elevated me and promoted me to running the business three years ago. We have about $13 billion under management, so we've done pretty good.

Her Interview

Ten minutes with Tricia

01What do you attribute your success to?

I would say two things. First and foremost, being at an organization where I truly believe they support me. When my son was younger, I stayed home, and I came back to work at JP Morgan 13 years ago after being home for 10 years. They knew when they hired me that I had a child with needs and that it would be challenging at times, and they actually gave me flexibility when flexibility was unheard of. This has been an amazing organization that has given me tremendous ability to be successful as a parent and a mother and a wife, at the same time be successful as an employee. Not only did they accept me coming back from being on a little bit of a sabbatical, but then they also elevated me and promoted me to running the business three years ago. Secondly would be my father. My father came from the industry - he was on Wall Street for many years - and he truly instilled in us the importance of loyalty, hard work, grit, surrounding yourselves with colleagues that you could call your friends, and the dedication to the company that you work for. That's from when I was born. I was raised with that, and the work ethic is so incredibly important. But then secondly, finding an organization that would embrace me and meet me where I was at.

02What advice would you give to young women entering your industry?

I think everybody should think beyond the job. Every job has a function - my function of this job is A, B, and C - but you've got to figure out what's outside of the job that's still going to impact the success of the business. Every job can be entrepreneurial in its own way, and that's where you're going to stand apart, when you're the person that's going beyond the day-to-day function of the job and figuring out ways how you can make impact and move the needle in other ways that benefit the business. For example, at JP Morgan, I created a program called Mission Tuition 10 years ago, and that was beyond the scope of my job. We're educating clients and financial advisors every day around why they should be planning for college, but we've got 200,000 employees at JPMorgan Chase, so we should also be educating them. I created a program that does just that - it's not about buying one of our plans, it's about educating the person to the right and to the left of you about how they also should be planning for college. That's some of my favorite work, just because I have the passion for it. So find the passion and use that passion to help drive your career and obviously the business in which you're working in. When you couple your work with all those things that you're passionate about and you feel good about what you're doing, you can get through those really tough times that are challenging by falling back on that passion.

03What values are most important to you in your work and personal life?

I surround myself with people that are positive, people that have similar passions and different skills but similar passions. As you know, being in the workforce, you have one person that's maybe negative or doesn't have the same drive, and it's hard - it brings the rest of the team down. So it's really so much about surrounding myself with people that are supportive, want to see my team grow, boost people up, and bring people up around you. I tell my team all the time, your success is mine, and mine is yours. I truly, truly believe that. It's not always easy, because that sometimes means not as positive feedback and getting people and pushing them to get to the next place. But if you have the same goals and the goals are very transparent, and you have a team that is passionate about those goals, then you can get through some of those challenging times. My father truly instilled in us the importance of loyalty, hard work, grit, surrounding yourselves with colleagues that you could call your friends, and the dedication to the company that you work for. The work ethic is so incredibly important. We lead with insights, we lead with education - it's just how we are. We create an environment where we don't judge. We get phone calls from employees who have a child that's a year away and they're embarrassed they haven't saved a penny, but that's not what we're about. We're about how can we get you in the best situation we could get you in.

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