Fidelity Investments Institutional Services Company of Boston announced today the formation of the Retirement Business Unit to advise and support financial advisors with regard to retirement plans, sales, and operations.

The new unit will manage Fidelity’s retirement plans sold through advisors, which total about $48 billion, according to Sophie Lawnay, a spokesperson for Fidelity. The new unit will have roughly 100 employees, according to Lawnay.

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