Fidelity Investments Institutional Services launched its 403(b) retirement program that offers 47 different mutual funds designed specifically for public-school employees.
Unlike a 401(k) plan that is sold to an entire firm, the non-ERISA regulated 403(b) is sold to the individual. This product positions the adviser as a crucial component in marketing a 403(b). "Its big. Its growing. Its ripe and screaming for advisers," said Bill Thompson, senior V.P. of marketing at Fidelitys retirement business unit, about the 403(b) market.