In the heated battle for affluent customers, banks are constantly being reminded that their nonbank competition is working overtime, and usually winning.

And no rivals, it seems, worry banks more than brokerage firms do. At a small conference in New York last week, the names Fidelity, A.G. Edwards, Schwab, and Merrill Lynch were invoked repeatedly as fierce competitors in the trust arena. David Ross Palmer Trust and private banking consultant

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