The brokerage arm of Magna Group Inc., St. Louis, Mo., began offering 54 funds from Massachusetts Financial Services on Friday.
Jeffrey M. Auld, president of Magna Investments Inc., said he decided to add Massachusetts Financial Services to its preferred list because the Boston-based fund company hired a wholesaler for Iowa, Kansas, Nebraska, and Missouri, where most of Magna's 130 branches are located. It is the first change to the list since 1996, Mr. Auld said.
The broker-dealer sells two proprietary funds, as well as funds from American Funds Distributors Inc., Putnam Investments, Federated Investors, AIM Management Group, and Van Kampen American Capital Distributors Inc.
Magna Group, which has $8 billion of assets, was bought by Union Planters Corp. on July 1. Union Planters, Memphis, has $28 billion of assets.