Four-person group joins the Alex. Brown division of Raymond James.
But no fines or restitution imposed because two of the three have filed for bankruptcy.
Firm says move expands its trust company capabilities and ability to serve complex financial needs.
Investment Adviser Association and NRS also say number of firms increased by 2.7% year over year.
Brokers implied government affiliation or approval, says enforcement action
William Galvin reiterates support for fiduciary standard in letter to DOL.
Kenneth L. Jones had been terminated for not disclosing outside business.
Founders of the RIA will stay on and use proceeds to expand into new markets.
Separate four-person and two-person groups join employee unit in Tucson, Ariz.
Will retain role as chief investment officer.
