Bruce S. Horowitz charged big upfront fees but never invested any of his clients' money, the Massachusetts regulator claims.
In addition, Voya Financial and four Cetera Group firms will pay customers $6.3 million in restitution.
Stephen S. Eubanks used the money to fund his lifestyle and pay earlier investors, according to William Galvin, Secretary of the Commonwealth in Massachusetts.
Capital Financial Planning in Albany, N.Y., joining LPL's brokerage and RIA platforms with 18 advisers.
Carl Gravina and Liana Poodiack managed $450 million of client assets at Wells Fargo, and Joshua Houle managed $50 million at Edward Jones
Puplava Financial Services joins a wave of independent RIAs moving to larger broker-dealers.
WealthPLAN Partners was with LPL for 27 years.
Financial advisers managing $220 million in client assets joined Raymond James from UBS Financial Services.
The transition will be completed by the time the Department of Labor fiduciary rule takes effect.
Stuart G. Dickinson is ordered to pay close to $1 million in restitution.
