Microsoft Patterns & Practices has released the WCF Security Guidance Package on CodePlex that can be used alone or in coordination with the Web Services Software Factory.
Per the CodePlex Website:
"This WCF Security Guidance Package provides automation capabilities inside of Visual Studio to apply security (authentication, authorization, confidentiality, and integrity) to WCF Web services. While this package does not have a modeling environment itself, it can be used in conjunction with the Web Service Software Factory: Modeling Edition to secure services developed with the factory. This package can also be used without the Service Factory."
Learn more here.