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). "It’s big. It’s growing. It’s ripe and screaming for advisers," said Bill Thompson, senior V.P. of marketing at Fidelity’s retirement business unit, about the 403(b) market.

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