Small banks may lack the size of a Fidelity Investments, but that won't necessarily keep them from making a profit at selling mutual funds, a leading consultant contended.

Instead, many smaller banks have loyal customers that give them a competitive edge in the rough and tumble mutual funds business, said A. Michael Lipper, president of research organization Lipper Analytical Services Inc., Summit, N.J.

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.