AMERIPRISE TO ADD 900 BLOCKERS

In the wake of its agreement to acquire H&R Block Financial Advisors for $315 million in cash, Ameriprise Financial said that it would add more than 900 former H&R Block advisors to its distributions. The agreement, announced in August, is expected to close within four to six months.

MORE 401(K) DEBIT CARDS ON OFFER

According to the Securities and Exchange Commission, an increasing number of companies are issuing 401(k) debit cards to employees who invest in 401(k) retirement programs. The card allows the employee to borrow up to $50,000 or 50 percent of the value of the retirement plan, whichever is less, through use of a debit card.

However, unlike a debit card that deducts money from a bank account, the 401(k) withdrawal is a loan from the retirement account and users must repay it, along with fees and interest, or incur substantial penalties. The pros and cons of such cards can be found at www.finra.org/investorinformation and at

www.sec.gov/answers/401(k)debitcards.htm.

WACHOVIA SETTLES FOR $9BN ON AUCTION-RATE SECURITIES

The SEC's Division of Enforcement revealed that a preliminary settlement has been reached with Wachovia Securities, and that investors, small businesses and charities that purchased auction-rate securities through Wachovia Securities and Wachovia Capital Markets could receive up to $9 billion in restitution.

The proposed charges stem from alleged misrepresentations made by Wachovia to thousands of its customers about the liquidity risk associated with ARS.

WEAVER AND TIDWELL'S GOLDFARB NAMED AMONG TOP 250 ADVISORS

Alan Goldfarb, a financial planner at Weaver and Tidwell Financial Advisors, a fee-based RIA of CPA and business advisory firm Weaver and Tidwell, has been named one of Worth Magazine's Top 250 Wealth Advisors.

Goldfarb, a CFP who serves as director of financial strategies at WTFA, has been named to the list six times. He has been a financial planner since 1978.

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