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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.

Morgan Stanley, owner of the world’s largest brokerage, reported a 66% earnings increase that beat analysts’ estimates as trading revenue jumped and wealth- management profit margins climbed.

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.

One Major League All Star was unsure of whether he’d reach the big leagues as a minor-leaguer in Mobile, Ala. So he lined up an internship at Morgan Stanley.

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

Trust services generated $124.7 million in income during the second quarter of 2013, up 2% from the same period last year.

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.

Bank of America’s Global Wealth and Investment Management business posted strong growth across the board in the second quarter.

The division, created in 2001 and made up of affiliated RIA firms who custody their assets with Raymond James, now includes about 100 firms, approximately 250 advisors, and more than $8 billion in assets.

The need for advisors to tackle succession planning decisions now has garnered increasing attention and discussion in recent years. Yet, even as advisors tend to recognize the importance of taking action to prepare, many still have not gotten started.

According to the new arrangement, Raymond James will send one advisor to join the bank to represent the program to clients and prospects at several locations.

Guggenheim Investments has launched two new BulletShares ETFs: Guggenheim BulletShares 2021 Corporate Bond ETF (BSCL) and Guggenheim BulletShares 2022 Corporate Bond ETF (BSCM).

Northern Trust Corp., the third- biggest independent U.S. custody bank, said second-quarter profit rose a smaller-than-expected 6.2 percent as stock-market gains boosted the value of assets the company oversees.

PNC Financial Services Group Inc., the second-largest U.S. regional bank, said second-quarter profit more than doubled, beating analysts’ estimates, as fee revenue surged and the firm set aside less for bad loans.

Bank of New York Mellon Corp., the world’s largest custody bank, reported that second-quarter profit rose 79% as the stock-market rally boosted assets and fees for overseeing them.

Starting in January 2014, 51% of retirement plan sponsors will change their investment lineups, paving the way for more mutual funds to fill their needs, according to a Cogent Research study.

Smead Capital Management has announced that its Smead Value Fund (SMVLX, SMVMX) recently gathered $100 million on its way to $400 million in assets under management, as a result of partnerships with RIA’s and brokerage firms.

Readers reacted loudly to news that the CFP Board sanctioned former chairman, Alan Goldfarb for selecting “fee only” and, later, “salary” to describe his income on a form on the FPA website.

Sen. Elizabeth Warren, the Massachusetts Democrat credited with conceiving the Consumer Financial Protection Bureau, said confirmation of a director for the agency is both a major step and a call to vigilance.