Discount broker Quick & Reilly seeks mutual fund firm, money manager.

Looking to move beyond its discount brokerage roots, Quick & Reilly Group is on the prowl for a mutual fund company and an investment management firm.

During a wide-ranging interview in his downtown Manhattan office, Thomas C. Quick, president of Quick & Reilly, said consumers are increasingly demanding convenience and investment help, forcing the nation's third largest discount broker to diversify.

"We have to keep up with changes that are taking place," Mr. Quick said. "We don't want to be left behind."

In addition to reaching into the money management business, Quick & Reilly hopes to introduce by yearend a no-transaction-fee mutual fund supermarket, …