Richard Cody of Jacksonville, Fla., also must pay fine of $30,000.
Desert Financial Wealth Management had been with LPL for 18 years.
Managed by Wellington, the fund will include 40 companies and bow midyear.
Boulder, Colo.-based firm raises Mercer's AUM to more than $15 billion.
Robert Schrieber, three advisers and three staff will join firm in Elgin, Ill.
Researcher Devenir says number of accounts grew 13% last year to 25 million.
Elana Milianta will work in firm's Greenwich, Conn., office.
Shawn Baldwin found guilty on seven counts of wire fraud.
Minneapolis-based Johnston Group will increase presence in Northern Plains.
