I am not sure I understand your scenario correctly, so please let me know if you had something different in mind.
RadRichTextBox allows you to insert merge fields in documents and populate them with data based on a particular items source. The respective documentation can be found here
and you can check the Mail Merge demo in the click-once examples
(or the Silverlight version, here
I hope this helps! Let us know if you have other questions.
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