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Bank of America Corp., shaking off some of the drag caused by faulty mortgages, swung to a second- quarter profit as losses in real estate narrowed and the company set aside less for bad loans.

For the week ended July 11, bond funds took in $6.39 billion, the most of any fund category. Long-term equity funds, meanwhile, lost $1.47 billion in outflows.

On July 18, 2012, PIMCO has filed with the Securities and Exchange Commission to launch the PIMCO Mortgage Opportunities Fund.

BlackRock Inc.’s Laurence D. Fink, who heads the world’s largest asset manager, said his firm needs to capture a larger share of the deposits that are going into U.S. equity exchange-traded funds.

The world’s largest international wealth management firms performed better than lower-tier firms on many fronts, including net new money and pre-tax profit growth.

Following a difficult second quarter, the financial services firm will push to expand its lending operations.

BlackRock said second-quarter profit fell 11% as slumping markets worldwide eroded fees for overseeing client assets.

Two financial advisors, Matt Browning and Monica Bacon-Proctor, have been added to independent broker-dealer Securities America’s base of registered representatives.

A new portfolio management strategy steers away from bonds and seeks to grow capital in non-traditional areas.

If a potential breakaway broker of a larger firm were to sit down and think of all the negative considerations in starting his own RIA firm, it would be hard to imagine that any sensible person would venture into that type of quagmire. However, with all these potential risks facing a prospective breakaway broker, there exists an opportunity for the established RIA firm.