Short Takes: Canada Bank's Offices to Sell 3d-Party Funds

Toronto-Dominion Bank announced plans Monday to sell third-party funds directly to customers through its network of 900 retail bank branches.

The bank plans to begin selling funds from AGF Group, a Canadian fund company, and Fidelity Investments Canada in the fall, said Jennifer Hough, a senior manager in financial planning at the bank. The bank is operating a pilot program in 58 bank branches in Vancouver, Ms. Hough said, and more funds will be added later.

TD Bank already sells its proprietary Green Line funds directly through the branches, and customers can gain access to third-party funds through a special account, Ms. Hough said. However, this is the first time the bank will be selling nonbank funds directly through the branches, Ms. Hough said. The bank has 6,000 employees licensed to sell mutual funds.

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