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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Blackstone REIT offers bonus shares in move that could goose sales
ALTERNATIVES JAN 07, 2026
Blackstone REIT offers bonus shares in move that could goose sales

The incentive program will translate into an extra 1% of shares for clients who put money into the REIT through April 1.

Stifel settles another case with clients of former star broker, Chuck Roberts
REGULATION, LEGAL & COMPLIANCE JAN 06, 2026
Stifel settles another case with clients of former star broker, Chuck Roberts

The St. Louis-based Stifel has paid millions of dollars in damages to former clients of Roberts over the past year.

Another alts fund – an Inland REIT – reports sagging value
ALTERNATIVES DEC 19, 2025
Another alts fund – an Inland REIT – reports sagging value

“The 2025 tariffs caused difficulties in the market,” said Mark Zalatoris, CEO of the Inland Real Estate Income Trust Inc. “Investors in real estate are looking at uncertainty."

Senators rebuke White House's leniency towards GPB’s founder, David Gentile
REGULATION, LEGAL & COMPLIANCE DEC 18, 2025
Senators rebuke White House's leniency towards GPB’s founder, David Gentile

President Donald J. Trump last month commuted Gentile’s sentence, leaving many in the financial advice industry in disbelief.

Advisor loaded up clients in their 80s with unsuitable GWG bonds, FINRA charges
REGULATION, LEGAL & COMPLIANCE DEC 17, 2025
Advisor loaded up clients in their 80s with unsuitable GWG bonds, FINRA charges

In one instance, the advisor recommended an 81-year-old client, with an annual income of less than $50,000 and a net worth of $100,000 buy $96,000 of GWG L bonds.

Bluerock real estate fund debuts on NYSE and slides sharply
INDEPENDENT BROKER DEALERS DEC 17, 2025
Bluerock real estate fund debuts on NYSE and slides sharply

The Bluerock Private Real Estate Fund ended its first day of trading at $14.70 per share, a 39.7% decline from its value last week.

Osaic hires Shannon Reid, Raymond James veteran, to lead advisor growth and become president
INDEPENDENT BROKER DEALERS DEC 17, 2025
Osaic hires Shannon Reid, Raymond James veteran, to lead advisor growth and become president

Meanwhile, Alex David has also left Raymond James to become CEO of Equity Services Inc.

Coinbase on hook for $618,000 to investor who lost cryptocurrency after cyber-attack
ALTERNATIVES DEC 16, 2025
Coinbase on hook for $618,000 to investor who lost cryptocurrency after cyber-attack

"These crypto platforms are where broker-dealers were in the 1980s in terms of supervision," said a plaintiff's attorney.

Delaware smacks Kovack with $1 million fine for fudging work history of broker recruit
INDEPENDENT BROKER DEALERS DEC 12, 2025
Delaware smacks Kovack with $1 million fine for fudging work history of broker recruit

The broker at the heart of the matter in question is Robert Prettyman, according to a consent order from November.

FINRA highlights AI, cyber in 2026 concerns but what about massive investor frauds?
INDEPENDENT BROKER DEALERS DEC 10, 2025
FINRA highlights AI, cyber in 2026 concerns but what about massive investor frauds?

The self-regulator doesn’t cite recent GPB private placement fraud and GWG Holdings fraud in 2026 regulatory oversight report.