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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ALTERNATIVES NOV 03, 2014
Two Schorsch companies at odds over $700M deal

RCS Capital seeks to pull out of a $700M deal to acquire two Cole companies from American Realty Capital Properties, which last week <a href="//www.investmentnews.com/article/20141029/FREE/141029902/nicholas-schorsch-downplays-arcps-23m-accounting-debacle&quot;" target="&quot;_blank&quot;" rel="noopener noreferrer">revealed a $23M accounting error</a>.

ALTERNATIVES OCT 31, 2014
National Planning Holdings puts kibosh on ARC nontraded REIT sales

After Nicholas Schorsch's giant traded REIT, American Realty Capital Properties, <a href=&quot;http://www.investmentnews.com/article/20141029/FREE/141029916&quot;>revealed a big accounting debacle</a>, one large broker-dealer network temporarily put a stop to sales of one of Mr. Schorsch's nontraded REITs.

ALTERNATIVES OCT 30, 2014
Will missteps menace Schorsch's empire?

The revelation of accounting errors at Nick Schorsch's flagship REIT, American Realty Capital Properties, could not have come at a worse time. Here's why. <i>(Also: <a href=&quot;http://www.investmentnews.com/article/20141030/FREE/141039985/national-planning-holdings-puts-kibosh-on-arc-nontraded-reit-sales&quot; target=&quot;_blank&quot;>BD puts kibosh on ARC nontraded REIT sales</a>)</i>

INDEPENDENT BROKER DEALERS OCT 30, 2014
Selling away claims behind LPL's termination of James "Jeb" Bashaw

Selling away is just one of the allegations that felled James &#8220;Jeb&#8221; Bashaw, LPL's former Houston branch manager.

INDEPENDENT BROKER DEALERS OCT 26, 2014
Finra fines WFG Investments $700,000

Finra fines WFG Investments $700,000 for failing to supervise registered reps

INDEPENDENT BROKER DEALERS OCT 24, 2014
CEO Mark Casady apologizes to LPL Financial shareholders for compliance missteps

Mark Casady apologizes to LPL Financial shareholders for compliance missteps as company takes hit to third-quarter profits. <i>(See also: <a href="//www.investmentnews.com/article/20141017/FREE/141019926&quot;" target="&quot;_blank&quot;" rel="noopener noreferrer">LPL's regulatory hit list</a>)</i>

INDEPENDENT BROKER DEALERS OCT 22, 2014
Analysts question whether LPL is out of the regulatory woods

Analysts are unnerved by LPL Financial's inability to close the cash register on regulatory charges after CEO Mark Casady <a href="//www.investmentnews.com/article/20141021/FREE/141029976&quot;" target="&quot;_blank&quot;" rel="noopener noreferrer">said compliance failures could cost $23 million</a> in the third quarter.

FINTECH OCT 20, 2014
Commonwealth building technology with an eye on the robo-adviser

CEO Wayne Bloom says the firm is considering how a robo offering could help its advisers better connect with clients.

INDEPENDENT BROKER DEALERS OCT 17, 2014
LPL cuts profit forecast to cover higher-than-expected regulatory costs

LPL Financial cuts 11 cents a share from its third-quarter earnings forecast after projecting it will need another $18 million to satisfy regulatory concerns.

ALTERNATIVES OCT 16, 2014
CNL Lifestyle exits senior housing with portfolio sale

Deal focuses large nontraded REIT on lifestyle sector before a potential listing of shares or sale of the portfolio.

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