The six-person team is leaving J.P. Morgan Private Bank in San Francisco.
Once-a-year withdrawals from retirement plans or IRAs would have to be paid back before additional borrowing could occur.
St. Petersburg, Florida-based ARS Wealth Advisors has $704 million in assets under management.
If the governor signs the bill, the state's six public pension funds would be prohibited from investing in financial products that boycott energy companies.
The Employee Benefits Security Administration gives the firm a green light to oversee retirement plan assets despite its 1MDB misdeeds
Impact Benefits & Retirement and Strategic Employee Benefit Services will be folded in.
Three sole practitioners managing $297 million in total are also moving to the firm.
The quarterly sales growth was the highest since 1983, according to Limra.
The four actively managed funds are based on strategies employed in the asset manager's mutual funds, including ESG offerings.
The manager of public sector retirement plans will offer personalized advice to participants.
