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INVESTING MUTUAL FUNDS JUN 11, 2007
It is high noon for 12(b)-1 fees

The SEC plans to decide by the end of the year whether to reform 12(b)-1 fees or eliminate them altogether, and proponents of both alternatives are poised to try swaying its decision.

NEWS WIREHOUSES JUN 11, 2007
Wachovia deal likely to heat competition

Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.

INVESTING ETFS JUN 11, 2007
SSgA sweetens pay for wholesalers on ETFs

In an effort to catch industry leader Barclays Global Investors, State Street Global Advisors has raised the wholesalers’ compensation for effecting the sale of exchange traded funds and lowered the amount it pays for effecting sales of its mutual funds and separately managed accounts.

NEWS BROKER DEALERS JUN 11, 2007
A.G. Edwards reps await retention package

Wachovia Corp. last week put the finishing touches on its retention package for brokers with A.G. Edwards Inc., and the company plans to announce details as early as today or as late as Wednesday.

NEWS WIREHOUSES JUN 11, 2007
Suit alleges misuse of sweep programs

Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.

RETIREMENT LIFE INSURANCE AND ANNUITIES JUN 11, 2007
Insurers meld LTC into life insurance

More insurers are offering riders that include long-term-care coverage in life insurance policies.

NEWS INDUSTRY NEWS JUN 11, 2007
Bull’s-eye stamped on Rydex

Rydex Investments has been in discussions with some suitors about being acquired, according to industry sources.

NEWS INDUSTRY NEWS JUN 11, 2007
Rollbacks on financial advice?

Wal-Mart Stores Inc. is taking another crack at expanding its financial services business by partnering with a discount- brokerage platform that potentially could move the world’s largest retailer closer to the financial advice business.

NEWS WIREHOUSES JUN 11, 2007
Settlement pay coming, Smith Barney reps told

IRVINE, Calif. — Smith Barney reps are wondering when they’ll get their payments from the wage-and-hour lawsuit the firm agreed to settle in May 2006 for $98 million.

RETIREMENT TAX JUN 11, 2007
IRS ices tactic used by holders of fee accounts

The IRS has put a damper on a tax saving strategy that has been used by some investors with fee-based accounts.