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MUTUAL FUNDS SEP 25, 2008
Federated buys Putnam fund's investments

Under the agreement, the Putnam fund purchased shares in Federated fund with cash and portfolio securities valued at $12.3 billion, said Putnam spokeswoman Laura McNamara.

LIFE INSURANCE AND ANNUITIES SEP 25, 2008
ABIA selects roster of officers

Thirteen banking and insurance executives have been selected to join the Washington-based trade association’s board.

RIA NEWS SEP 25, 2008
NFP warns investors of revenue drop

National Financial Partners Corp. warned investors that its total revenue took a dive during the third quarter.

REGULATION AND LEGISLATION SEP 25, 2008
AMT relief bill moves to Senate

The House of Representatives approved legislation yesterday that would relieve about 25 million middle-class taxpayers from paying the alternative minimum tax this year.

RIA NEWS SEP 24, 2008
Goldman rallies RIAs at subdued conference

Advisers undoubtedly are concerned about their clients in this time of financial crisis, said Charles Goldman, executive vice president of Schwab Institutional, but they probably aren’t doing enough about it.

ALTERNATIVES SEP 24, 2008
Existing home sales, prices continue to fall

Sales of existing homes fell to a seasonally adjusted rate of 4.91 million units in August, down 2.2% from July and 10.7% from a year ago, according to the National Association of Realtors of Chicago.

FINTECH SEP 24, 2008
Fidelity site ranked No. 1 for intermediaries

Lauded for its ability to make use of advanced technology to make its website user-friendly, Fidelity Investments Institutional Services Co. of Boston was ranked as the financial intermediary with the best website by kasina LLC.

PRACTICE MANAGEMENT SEP 24, 2008
Paulson does about-face on compensation

Treasury Secretary Henry Paulson today told a House committee he was open to considering limits on executive compensation in the Bush administration’s proposed $700 billion bailout package for the nation’s financial institutions.

RETIREMENT PLANNING SEP 23, 2008
Galvin: Suspend penalty on 401(k) withdrawals

Massachusetts Secretary of the Commonwealth William F. Galvin today called on Congress to temporarily suspend the 10% penalty tax on early withdrawals from 401(k)s.

MUTUAL FUNDS SEP 23, 2008
Third Avenue files suit against Reserve

Third Avenue Institutional International Value Fund LP, a fund of Third Avenue Management LLC, filed a class action Friday against Reserve Management Corp. hinging on the firm's redemption process last week, when the net asset value of the Reserve Primary Fund fell to 97 cents.