Bruce Kelly

Bruce is Senior Columnist for InvestmentNews, a leading publication for financial advisors and the wealth management industry.

An award-winning journalist, Bruce’s career at InvestmentNews began in 2000, two years after the launch of the newspaper. He has covered the brokerage industry ever since, focusing on financial advisors’ pay, the products they sell, and the firms on and off Wall Street where they work.

His reporting in the financial crisis 2008 and thereafter shed light on the many shortcomings of the financial advice industry, from weak regulation to the collapse of many broker-dealers.

Bruce writes an award-winning column, On Advice, and his daily breaking news reports give clarity and insight into what’s happening behind closed doors at the largest brokerage firms in the country.

Before becoming a journalist, Bruce taught middle school and high school English in Manhattan and Caracas, Venezuela, for a decade. He is the co-author of a 2010 book, “Financial Serial Killers,” and has two children.

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Bruce Kelly
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Raymond James buys another boutique investment bank
PRACTICE MANAGEMENT DEC 17, 2020
Raymond James buys another boutique investment bank

The deal comes on the heels of the firm's announced purchase of a retirement plan shop

Morgan Stanley leaves pay plan mostly intact for 2021
PRACTICE MANAGEMENT DEC 16, 2020
Morgan Stanley leaves pay plan mostly intact for 2021

But teams are staring at new hurdles tied to assets, financial plans and online brokerage

LPL offers stay bonuses to Waddell & Reed advisers
INDEPENDENT BROKER DEALERS DEC 16, 2020
LPL offers stay bonuses to Waddell & Reed advisers

The deals reportedly range from 30% to 50% of an adviser's prior year's revenues

UBS snags $9 billion team from J.P. Morgan Private Bank
PRACTICE MANAGEMENT DEC 15, 2020
UBS snags $9 billion team from J.P. Morgan Private Bank

The Atlanta-based team is led by Jeff Lewis, Steve May and John McColskey

Morgan Stanley loses appeal of $3.3 million award
WIREHOUSES DEC 15, 2020
Morgan Stanley loses appeal of $3.3 million award

The U.S. Court of Appeals affirms an earlier ruling against Morgan Stanley in a case regarding the sale of Puerto Rico bonds

RIAs see business go south
PRACTICE MANAGEMENT DEC 14, 2020
RIAs see business go south

Large registered investment advisers in the Northeast have watched their assets diminish in 2020, even as the broader market reached fresh highs

Adviser moves are hopping as 2020   — finally — comes to a close
OPINION DEC 11, 2020
Adviser moves are hopping as 2020 — finally — comes to a close

Advisers are dashing for the door before the end of an eventful year turned upside down by COVID-19

How much are nontraded REITs really worth?
OPINION DEC 10, 2020
How much are nontraded REITs really worth?

Advisers don't like it when REIT valuations bounce all over the place

Wells Fargo reps to jump higher 'hurdle' in 2021 pay grid
PRACTICE MANAGEMENT DEC 10, 2020
Wells Fargo reps to jump higher 'hurdle' in 2021 pay grid

The target to reach the higher payout will increase by $1,000 per month next year which could pinch adviser compensation

Advisor Group still facing hurdles on debt: Fitch Ratings
INDEPENDENT BROKER DEALERS DEC 07, 2020
Advisor Group still facing hurdles on debt: Fitch Ratings

The rating agency kept its junk rating of B- for Advisor Group bonds