Survey Shows What Mutual Fund Companies Banks Prefer

By Danker, Jessica | THE JOURNAL RECORD, February 25, 1997 | Go to article overview

Survey Shows What Mutual Fund Companies Banks Prefer


Danker, Jessica, THE JOURNAL RECORD


In a continued effort of the ABA Securities Association to study bank investment services nationwide, the group has released a "report card" on how bankers rate mutual fund companies.

The bankers graded their satisfaction with their top five mutual fund providers on a scale from one to five on 10 different service categories: diversity of products, pricing and load structure, ease of sales processing, correction of errors, service responsiveness, "look" of sales literature, utility of sales literature, wholesaler field support, marketing support and training support.

According to the survey, banks were most satisfied with the following five mutual fund companies: * The Pioneer Group, composite score: 3.95. * Kemper Financial Services, 3.94. * Van Kampen American Capital, 3.92. * AIM Distributors Inc., 3.86. * Massachusetts Financial Services, 3.86. A total of 72 mutual fund companies were identified by bankers as one of their top five mutual fund vendors. The report card, however, provides detailed scores and rankings of only the 20 fund companies identified by four banks or more. Of those 20 fund families, the top five sold in banks' retail areas are: Putnam Mutual Funds, 1,039; American Funds Distributors, 481; AIM Distributors, 452; Franklin Templeton, 408; Fidelity Investments, 332. These scores were based on a combination of the frequency a mutual fund company was included among banks' top five vendors and the company's rank position as reported by each institution. The score is therefor a broad measure of a fund company's total presence in the marketplace, according to American Brokerage Consultants Inc., St. Petersburg, Fla., which conducted the survey and tallied the report card. Of the 1,491 financial institutions that responded to the 1996 Survey of Bank Investment Services, 344 provided detailed information on their top five mutual fund vendors and also graded the services provided by them. Of those, 296 were banks, 41 were savings and loans and seven were federal credit unions. The 1996 Bankers' Report Card on Mutual Fund Companies is the fourth part of the association's 1996 National Survey of Bank Investment Services. The ABA Securities Association is an affiliate of the American Bankers Association. The 1996 Survey of Bank Investment Services is available for sale by individual volume or as an entire seven-volume set. The report card on mutual fund companies costs $65 for ABA members and $85 for nonmembers. The entire report costs $425 for members, $575 for nonmembers. Oklahoma Society of CPAs Several Oklahoma City area CPAs have been accepted into membership with the Oklahoma Society of Certified Public Accountants. The new members are: Lisa E. DeQuasie, of Edmond, senior-audit with Arthur Andersen; Geri D. Marlatt, of Oklahoma City, student; Lisa J. McMurrain, of Oklahoma City; Albert L. Nation, of Oklahoma City, sole practitioner in Bethany; James A. Rix, of Edmond, visiting professor at the University of Oklahoma School of Accounting; William R. South, of Oklahoma City, staff accountant with Carlson & Cottrell in Shawnee; Scott A. Voss, of Oklahoma City, senior tax specialist with KPMG Peat Marwick; William H. Whitehill Jr., of Oklahoma City, attorney with Andrews Davis Legg Bixler Milsten & Price; Lori A. Woodson of Edmond, accountant with Amend Smith & Co.; and Lois E. Wyrick of Yukon. People Hardy Williams has accepted the position of senior vice president in commercial/construction lending at Guaranty Bank.

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