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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RIA NEWS MAR 22, 2010
Beleaguered Broker-Dealer GunnAllen loses top-producing branch

Embattled broker GunnAllen Financial Inc. has lost a top-producing branch — the broker-dealer's first major defection since the abrupt resignations in December of its holding company's chairman and chief financial officer.

REGULATION AND LEGISLATION MAR 22, 2010
John Sykes quits GunnAllen board, CFO walks

Questions surround the beleaguered firm after owner and chairman resigns.

INDEPENDENT BROKER DEALERS MAR 21, 2010
Open VA platform at Ameriprise may be less than open

Ameriprise Financial Inc.'s plan to open its brokerage platform to outside variable annuities falls short of the open architecture favored by other independent broker-dealers.

REGULATION AND LEGISLATION MAR 18, 2010
Securities America advisers caught in the private-placement crossfire

Last week, Securities America Inc. was tagged with a lawsuit from Massachusetts regulators alleging that the firm misled investors who were sold high-risk private placements.

REGULATION AND LEGISLATION MAR 18, 2010
Dykstra down on strikes

Suspected shooter in attack on Dallas financial advisers dies
RIA NEWS MAR 12, 2010
Suspected shooter in attack on Dallas financial advisers dies

Robert Mustard was thought to be the person who assaulted a father and son team of reps on Monday. The former client was said to be 'unhappy over some business dealings.'

REGULATION AND LEGISLATION MAR 10, 2010
FSC Securities sued by former branch manager after alleged buyout attempt

A former branch manager who headed one of the largest groups of reps at FSC Securities Corp. is suing the broker-dealer after what he claims was a thwarted and contentious attempt to buy the business from parent AIG Advisor Group earlier last year.

RIA NEWS MAR 10, 2010
Two top financial advisers flee AIG's Royal Alliance

Two long-established advisers have left Royal Alliance Associates Inc., one of the broker-dealers in the AIG Advisor Group, citing mistrust of management after AIG's top executive elected to hold onto — rather than sell — the broker-dealer network.

RIA NEWS MAR 10, 2010
AIG Advisor Group is cutting 62 back-office jobs

The AIG Advisor Group Inc. said last week it is making more widespread changes by cutting staff and consolidating operations among the back offices of its three broker-dealers.

REGULATION AND LEGISLATION MAR 10, 2010
Ex-AIG adviser who practiced voodoo on victims gets 12 years for fraud

A Tennessee representative formerly affiliated with AIG Financial Advisors Inc. spent time making voodoo dolls of his victims to ward off their damaging testimony, prosecutors said.