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Parametric Portfolio Associates, a subsidiary of Eaton Vance Corp. (EV), and The Clifton Group Investment Management Company announced today the completion of the previously announced purchase of Clifton by Parametric.

Senate Majority Leader Harry Reid said he’s hopeful negotiators can reach a last-minute U.S. budget deal that would protect all but top earners from a tax increase.

Morningstar today gave props to a few funds that that the research firm said went from worst to first in 2012.

Negotiators made progress overnight as they tried to reach a last-minute U.S. budget deal that would let income taxes go up on some top earners.

As the calendar turns the page to another year, 2013 offers the four largest U.S. wealth management businesses the opportunity to recapture some of the assets and talent they have been ceding to other firms.

Allen Saunders went from pet food distributor to UBS financial advisor to number 36 on On Wall Street’s 2012 list.

Over the coming year, financial regulators are expected to press ahead with scores of rulemaking proceedings that will affect advisors and their clients. Lawmakers will continue to refine and implement numerous provisions of the Dodd-Frank financial reform bill, while mulling the possibility of expanding oversight of investment advisors.

For the week ending Wednesday, December 26, mutual funds and exchange-traded funds reported net inflows of $3 billion, excluding the inflows of $18.2 billion to money market accounts, according to data from Lipper.

Total money market mutual fund assets increased by $28.39 billion to $2.665 trillion for the week ended Wednesday, December 26, according to data from the Investment Company Institute.

How many times have we said to ourselves, “If I’d only known then what I know now?” At this year’s Securities America Assistant University, a panel of experienced advisor assistants shared the benefit of hindsight and the top things they wish they had known in their first year as an assistant.