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.

Bruce Kelly
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Morningstar exits another service for advisors
YOUR PRACTICE PRACTICE MANAGEMENT FEB 14, 2025
Morningstar exits another service for advisors

It's the second instance in a year that Morningstar is jettisoning a service for financial advisors.

Finra sanctions smoothie-throwing broker over alleged cash reporting failures
NEWS BROKER DEALERS FEB 13, 2025
Finra sanctions smoothie-throwing broker over alleged cash reporting failures

But the Finra panel's decision against James Iannazzo was not unanimous.

Decade of RIA M&A explosion shows no slowdown: Fidelity
NEWS RIAS FEB 13, 2025
Decade of RIA M&A explosion shows no slowdown: Fidelity

There's been an emergence of buyers, backed with PE dollars, making repeated acquisitions.

Schwab bumps up fee for RIAs using its referral service
GO RIA CUSTODIAN FEB 12, 2025
Schwab bumps up fee for RIAs using its referral service

Schwab's referral program has not changed its fees in almost 20 years.

Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam
INVESTING ALTERNATIVES FEB 11, 2025
Morgan Stanley loses $843,000 investor claim stemming from 'gold bar' scam

“If Morgan Stanley had called my client’s son, this wouldn’t have happened,” the investor's attorney said.

LPL boosts revenue potential with amped-up alts platform
INVESTING ALTERNATIVES FEB 10, 2025
LPL boosts revenue potential with amped-up alts platform

Along with greater revenue, alternative investments also carry risks, one industry lawyer noted.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
NEWS BROKER DEALERS FEB 07, 2025
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Pershing discussing move to control portion of broker-dealers’ cash.
GO RIA CUSTODIAN FEB 06, 2025
Pershing discussing move to control portion of broker-dealers’ cash.

The clearing and custody giant is kicking the tires on new cash sweep plan with broker-dealer clients.

Mess with pay, and advisors walk
NEWS OPINION FEB 05, 2025
Mess with pay, and advisors walk

UBS is looking to boost the firm’s bottom line even as some financial advisors search for greener pastures.

Apollo reports spike in alt sales through wealth management group
NEWS RIAS FEB 04, 2025
Apollo reports spike in alt sales through wealth management group

Alternatives are quickly becoming a mainstream allocation in wealth management.