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Wells Fargo, advisor to the Evergreen funds, is renaming the funds Wells Fargo Advantage Funds and merging and reorganizing many of the portflios. The end result will be a family of 128 mutual funds, variable trust funds and managed account shares, down from 177.

More high-net-worth and ultra-high-net-worth investors considered themselves “conservative” last year as compared to a year earlier, according to a Spectrem Group survey.

By taking more of a hands off approach with its Merrill Lynch financial advisors, Bank of America Corp. saw “historically” low broker attrition in the fourth quarter and plans to add advisors this year, said Sallie Krawcheck, the president of Bank of America Global Wealth.

After spending the second half of last year exchanging its long-term expansion plans for extra capital, Boston Private Financial Holdings Inc. announced it received approval from the Treasury Department to begin repaying the $154 million in outstanding Series C preferred stock that was issued to the Treasury as part of its Capital Purchase Program.

Assets held in hedge funds increased in 2009, but it was a small victory in the grand scheme of things for an industry that is losing top talent and had more funds continue to liquidate last year.

Tarp, TLGP recipients to pay 15 basis point fee

The recession has sent even the wealthiest Americans running for cover, as affluent investors worry about their financial security.

Grail Advisors, a provider of actively managed exchange-traded funds, has recruited Gary Black, the former chief executive officer of Janus, to serve as a director on its advisory board.

ETF Securities has launched two exchange-traded funds that are the first to be physically backed by platinum and palladium. The company already offers ETFs backed by gold and silver.

Klopp joins as head of Americas real estate investing and global real estate debt investing

WASHINGTON — House Financial Services Committee Chairman Barney Frank laid out his near-term agenda Wednesday, including a Jan. 22 hearing on executive compensation at financial companies and a Feb. 3 hearing on why banks are not lending more.

WASHINGTON — The Financial Crisis Inquiry Commission's first public hearing on Wednesday gave the industry's top leaders an opportunity to express remorse for their role in the collapse of the financial markets but did little to enhance the public's understanding of the meltdown.

Wells Fargo & Co. executives will be cross-examined about their loan book next week in a way they haven't been in awhile.

Tarp, TLGP Recipients to Pay 15 Bpt Fee

The raging bull market of the last 12 months will continue throughout 2010 but at a slower, steadier pace, giving investors reason to draw back slightly on risk, according to BlackRock’s Bob Doll, the vice chairman and global chief investment officer of fundamental equities and Curtis Arledge, managing director and co-head of U.S. fixed income portfolio management group, in their forecast for the first quarter.

The Securities and Exchange Commission has appointed five individuals to specialize in various areas of investigation and has also created an Office of Market Intelligence to compile the hundreds of thousands of tips, complaints and referrals that the SEC receives each year.

Asset Management Unit will Oversee Investment Advisors

ETF Securities has launched two exchange-traded funds that are the first to be physically backed by platinum and palladium. The company already offers ETFs backed by gold and silver.

Grail Advisors, a provider of actively managed exchange-traded funds, has recruited Gary Black, the former chief executive officer of Janus, to serve as a director on its advisory board.

Institutional investors remain optimistic that the global economy and the interest rate-ridden housing market will help create “stability” and growth in the New Year, a Northern Trust Global Advisors (NTGA) survey found.