The investment adviser and Web technology provider FundQuest has carved a niche for itself with an investment program that helps banks and other financial services companies move into fee-based businesses.

Banks are increasingly attracted to fee programs such as separate accounts, mutual fund wraps, and fee-based brokerage accounts that cater to the "emerging affluent," people with less than $1 million to invest, and several are turning to private-label providers such as FundQuest to reach this market.

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