A state bank association has found out the hard way that being in the brokerage business requires solid partners to avoid disaster.

The Banks' Association of Connecticut is still dealing with the fallout of an ill-fated alliance with a clearing agent that went out of business. The February bankruptcy of New York-based Adler Coleman & Co. led to the freezing of all the firm's accounts, including the 650 accounts it handled for Connecticut Association Securities, the bank association's brokerage.

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