Bruce Kelly

A former middle school and high school English teacher, Bruce Kelly started at InvestmentNews in 2000 as the brokerage reporter after a two-year stint at sister publication Pensions & Investments. He writes a bi-weekly, award winning column, On Advice, and covers the independent broker-dealer industry.


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Steps to hire diverse talent

Firm leaders and executives should aim to broaden their potential talent pool and professional networks, says Schwab's Leslie Tabor.


Edward Jones loses $30 million cyberbullying claim over fake sex ads

The former broker, Dalas Gundersen, sued Edward Jones in 2015, seeking damages, after three fake gay-sex ads were posted on Craigslist earlier that year listing his business phone number.


Merrill ramps up adviser training after record revenues in Q3

The new adviser development program is up and running with 750 advisers. Some of the new recruits could be already licensed to sell securities, but don't have a background in financial advice, according to the company.


Head count down, Wells Fargo has ‘underinvested’ in independent advisers, CEO says

In July, Charlie Scharf said that indie brokers were 'underutilized.' In the latest quarter, the number of advisers declined 2.1%.


Morgan Stanley adds record assets, buys retirement plan firm

The wirehouse made yet another acquisition in the wealth management space last month, this time a retirement plan company with $43 billion in assets.


Former LPL adviser back in business after allegations of racism

The broker-dealer cut ties with Eileen Cure in the wake of allegations of racism on social media. She is now part of a small RIA, Wealth Management of Kentucky.


First Republic recruiting slows in Q3

After recruiting seven teams of advisers in the first half of the year, the bank added just one team over the summer, executives of the firm said on an earnings call.


2021 has been a good year for CEO pay at RIAs

The industry saw another year of growth, according to an InvestmentNews study, but compensation for most positions has shown little growth.


UBS sued over muni-bond snafu that cost clients

UBS Financial Services misreported interest paid on taxable munis, resulting in higher tax bills for clients, according to a lawsuit.


Focus Financial keeps rolling, buys Florida RIA

Ullmann Wealth Partners, with $582 million in client assets, is the 28th acquisition Focus Financial Partners has made this year.

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