Two mutual fund gurus gave bankers a prescription for sucess last week. But for some, the medicine may be hard to swallow.

To succeed in the mutual fund business, banks should take charge of more fund running functions, said A. Michael Lipper, president of Lipper Analytical Services Inc.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.