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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Judge OKs more than $90 million in settlement money for GWG investors
INDEPENDENT BROKER DEALERS JUN 20, 2025
Judge OKs more than $90 million in settlement money for GWG investors

Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.

BNY Pershing selective in rolling out new fees to RIA clients
RIA NEWS JUN 18, 2025
BNY Pershing selective in rolling out new fees to RIA clients

The giant clearing and custody firm doesn't want to ruffle any feathers of select clients, one executive said.

Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says
MERGERS & ACQUISITIONS JUN 16, 2025
Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says

Counting advisor moves in and out of firms requires some art as well as science.

Maryland bars advisor over charging excessive fees to clients
REGULATION AND LEGISLATION JUN 13, 2025
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased "highly aggressive and volatile" securities, according to the order.

UBS keeps focus on costs in US wealth management business
WIREHOUSES JUN 12, 2025
UBS keeps focus on costs in US wealth management business

Meanwhile, the bank is also investing in technology for its financial advisors in the United States.

FINRA and advisors' other work
INDEPENDENT BROKER DEALERS JUN 12, 2025
FINRA and advisors' other work

The brokerage industry regulator once again takes a stab at updating rules for independent brokers with other businesses and jobs

New York Attorney General Letitia James charges insurance agent with running $50 million Ponzi scheme
REGULATION AND LEGISLATION JUN 11, 2025
New York Attorney General Letitia James charges insurance agent with running $50 million Ponzi scheme

Miles Marshall was "the proverbial big fish in a small pond," according to one attorney.

Citigroup cuts LPL Financial's stock rating, citing recruiting competition
INDEPENDENT BROKER DEALERS JUN 10, 2025
Citigroup cuts LPL Financial's stock rating, citing recruiting competition

However, in its note, Citi Research did not cite a direct competitor making inroads in hiring Commonwealth advisors.

Ex-Edward Jones advisor wins defamation fight against old firm
INDEPENDENT BROKER DEALERS JUN 09, 2025
Ex-Edward Jones advisor wins defamation fight against old firm

Financial advisors live in fear of a large firm dirtying their work histories after they leave a firm.

New York broker-dealer LifeMark Securities loses second GWG bond arbitration fight in weeks
INDEPENDENT BROKER DEALERS JUN 06, 2025
New York broker-dealer LifeMark Securities loses second GWG bond arbitration fight in weeks

LifeMark Securities has faced scrutiny in the past for its sales of GWG L bonds.