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In October, Boston-based Bingham Dana announced that the firm had formed an investment management and trust administration group with Baltimore financial giant Legg Mason Inc. Through this new unit, Bingham Legg Advisers, the firm hopes to offer wealthy clients more sophisticated investment advice. Legg Mason gets an entree into the Boston market. “This is unique. We know of no other joint venture between a law firm trust group and an investment company anywhere,” said Bingham Dana managing partner Jay S. Zimmerman. The joint venture was formed when Legg Mason purchased a 50 percent interest in Bingham Dana’s existing fiduciary services group, which has a staff of nearly two dozen. The new alliance will allow the firm to compete more effectively with firms like Goldman Sachs and Morgan Stanley, said Peter E. Simmons, president of Bingham Legg and former director of the law firm’s fiduciary services group.

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