While Fidelity Investments realigns the system it uses to sell mutual funds through banks, brokers, and insurance companies, its rivals are taking a wait-and-see approach.

"I think Fidelity has the vision right, but I think they might be two or three years early," said Michael Vessels, national sales manager at Aim Management Group, Houston.

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.