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American Express Will Offer Schwab Supermarket Funds

American Express Financial Advisors of Minneapolis, Minn., will offer mutual funds from the supermarket of Charles Schwab & Company of San Francisco. The supermarket now offers 2,000 funds.

The Schwab funds will be available later this year through American Express's 9,300 financial advisors, online brokerage, wrap accounts and 401(k) products, American Express said.

American Express is offering the funds to expand its fund products, said Pam Moret, American Express's vice president of variable assets and services. American Express currently offers 38 proprietary funds and 500 funds from other families.