It's become axiomatic in recent years: Banks that want to be serious players in the mutual fund industry need to move beyond their traditional reliance on money market funds.

Indeed, the conventional wisdom holds that fund programs with a higher percentage of stock, bond, and mixed offerings - long-term funds - are more profitable than programs heavily weighted toward shorter-term money market portfolios. That's because long-term funds command higher fees and their asset base is more stable.

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