Retail expansion.

Froley Revy Investment Co., a long-time convertible bond specialist, has created a new four-member group to sell convertible securities to investors through broker-dealers.

Previously, Los Angeles-based Froley Revy had concentrated mainly on institutional clients. The money management firm had doubled its funds under management in the past year to $4.1 billion after being picked as a sub-adviser for two funds managed by Nuveen Institutional Advisory Corp. of Chicago.

Convertible securities offer investors a fixed rate of return, along with the added possibility of conversion if the value of the company's common stock increases.