Reps collectively managed $423 million at their former firms.
The three-member adviser team expands the footprint of Syntal Capital Partners.
Ms. Bennett allegedly spent some of her ill-gotten gains on luxury goods, mystics and $500,000-a-year suite at AT&T Stadium in Dallas.
Action could lead to permanent suspension and revocation of his CFP certification.
Buying just the exchange-traded funds would add $36 billion in assets to its PowerShares family
John R. Edgecomb Sr. spent 37 years at Merrill, where his son joined him in 2007.
Registered rep formed a company and then sold $1.74 million worth of shares to his brokerage clients.
Paul Elvidge got five years for forging clients' signatures and bilking accounts.
Adviser allegedly hid the true amount of fees he was charging them, leading the couple to pay $1.2 million more than they thought they were being charged.