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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NEWS INDUSTRY NEWS JUL 12, 2009
HURT BY FALLING PROFITS, FIRMS PRESSURED TO COMBINE

Like businesses across the financial services industry, clearing firms are feeling the pressure and the strain from the historic market downturn. It is a difficult and competitive business environment for the firms, which are key partners to broker-dealers, clearing and settling transactions for them and their representatives.

YOUR PRACTICE PRACTICE MANAGEMENT JUL 12, 2009
Raids 'blindside' small B-Ds as brokers go for the gold

Recent raiding at broker-dealers has sparked ugly and bitter feuds and led to significant damage awards, and financial industry attorneys and experts see more cases in the offing.

NEWS REGULATION AND LEGISLATION JUL 08, 2009
Morgan Stanley slapped wth $1M arbitration award in raiding case

Morgan Stanley last month suffered a $1 million loss in an arbitration case charging that the firm had “blindsided” a small regional broker-dealer, Strand Atkinson Williams & York Inc., “by a swift and crippling raid” of senior management and top-producing brokers.

NEWS INDUSTRY NEWS JUL 02, 2009
Emmet A. Larkin Co. quits the clearing arena

Another clearing firm bites the dust. Emmet A. Larkin Co. Inc. last month quietly shut down its back-office and clearing operations.

NEWS INDUSTRY NEWS JUL 02, 2009
VSR Financial Services names Christopher Radford CEO

VSR Financial Services Inc., an independent broker-dealer based in Overland Park, Kan., has tapped Christopher Radford as its new chief executive.

NEWS INDUSTRY NEWS JUN 28, 2009
Some advisers question future of LPL unit

Tensions have been building for months among financial advisers affiliated with Mutual Service Corp., a subsidiary broker-dealer of LPL Investment Holdings Inc., as they wonder about the future of their firm.

RETIREMENT LIFE INSURANCE AND ANNUITIES JUN 21, 2009
Not such a bad gig

“I don't give a damn 'bout my bad reputation!” rock 'n' roll icon Joan Jett sang in 1981.

INVESTING ALTERNATIVES JUN 14, 2009
Arbitration settlement lands in insurer's lap

A sprawling case of alleged securities fraud involving an independent broker-dealer and two brokers may wind up costing an insurance company $10.3 million.

YOUR PRACTICE PRACTICE MANAGEMENT JUN 14, 2009
Ex-NAPFA exec allegedly took $1.24M in kickbacks

Advisers who are members of NAPFA had a range of thoughts and reactions to the news that the SEC last month charged a past president of the organization with taking kickbacks related to unregistered investment pools his firm managed.

NEWS REGULATION AND LEGISLATION JUN 11, 2009
Woodbury Financial settles with regulators over adviser background checks

As part of a settlement last month with securities regulators in Arizona, Woodbury Financial Services Inc. agreed to tighten its policy of looking into the financial backgrounds of their 1,750 reps and advisers.