BANKING AFFAIRS

Detailed explanation-1: -1 Answer. Mutual funds is a third party product often sold by banks.

Detailed explanation-2: -A third-party distributor is an institution that sells or distributes mutual funds to investors for fund management companies. These entities generally have no direct relation to the fund itself. Partnerships between mutual fund companies and third-party distributors often come with various fees and provisions.

Detailed explanation-3: -Third-party sales are sales conducted by anyone other than the producer. Even when there are four or five parties involved, we refer to all of them as third parties. Third-party sales are often vexing for marketers.

Detailed explanation-4: -An example of a third party would be the escrow company in a real estate transaction; the escrow party acts as a neutral agent by collecting the documents and money that the buyer and seller exchange when completing the transaction. A collection agency may be another example of a third party.