Lanzetta Group's 11 advisers formerly were affiliated with Questar Capital.
Former Wells Fargo rep John Gregory Schmidt had been barred by Finra.
Richard Cody of Jacksonville, Fla., also must pay fine of $30,000.
Managed by Wellington, the fund will include 40 companies and bow midyear.
Desert Financial Wealth Management had been with LPL for 18 years.
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.
