National City Bank of Minneapolis knows there is no magic formula to judge which mutual funds best suit a specific customer's needs.
Connie Weinman, compliance counsel for the National City Bancorp. unit, said her brokers follow specific guidelines to match potential customers to the most appropriate funds. Prospects are asked to fill out questionnaires to describe their investment goals. Once a sale has been made, brokers track how those goals change over time and which funds are the most profitable.