Salomon Smith Barney, the second-largest retail brokerage, wants banks to serve as its entree into new geographical markets.

The Travelers Group subsidiary has been quietly placing its brokers in bank branches in Colorado, Utah, and most recently Tennessee. Under a fee- sharing arrangement, the participating banks refer their customers to the brokers, who then offer them full-service Smith Barney retail brokerage accounts.

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.