Portfolio

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BlackRock said second-quarter profit climbed 32% as rising stock markets boosted fees.

Securities America has ramped up the fierce competition for independent advisors, launching a new RIA targeting advisors with between $50 million and $250 million assets under management.

One service provider is looking to take advantage of the migration of hedge funds into the mutual funds space by offering its hedge fund clients its Investment Company Compliance Services offering.

Direxion today announced that the Direxion Indexed Managed Futures Strategy Fund (DXMAX) has gathered more than $100 million in assets under management since launching in February 2012.

“People are starting to think more strategically about giving,” says Schwab Charitable President Kim Laughton. “It really started last fall. What’s nice is it’s continuing this year.”

BlackRock Inc., the world’s biggest money manager, said second-quarter profit climbed 32% as rising stock markets boosted fees.

PIMCO last month teamed up with product and technology platform provider Aria Retirement Solutions and insurer Transamerica Advisors Life Insurance Company to market contingent deferred annuities to asset-based fee-only registered investment advisors.

Inflows to long-term mutual funds were $1.28 billion for the eight-day period ending Wednesday, July 10, according to the Investment Company Institute.

Broadridge Financial Solutions today announced the closing of its acquisition of Bonaire Software Solutions, a provider of fee calculation, billing, and revenue and expense management solutions for institutional asset managers, wealth managers, mutual funds, bank trusts and hedge funds