BOSTON -- As Banc One Corp. presses into retail investments, it is eyeing ways of delivering financial planning services to customers, chairman John B. McCoy said last week.
With financial planning, "the customer relationship lasts much longer and is much deeper," Mr. McCoy said at a conference sponsored by Fidelity Investments and Business Week. He cited IDS, the financial planning subsidiary of American Express Co., as a likely model.
"I'm going to get in trouble for saying this," Mr. McCoy said. "But it's a lot easier to find somebody else doing something well and copy it than to think it up yourself."
Banc One, based in Columbus, Ohio, managed $5.2 billion in mutual fund assets at midyear, according to Lipper Analytical Services.
