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
Displaying 3268 results
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.

RIA NEWS MAR 10, 2010
Bonus plan stirs pot at AIG's adviser unit

AIG Advisor Group Inc.'s move to dole out retention bonuses to assuage the 6,000 or so brokers who have remained loyal through the tumult of the past year appears to be too little, too late, or simply too binding for some advisers.

INDEPENDENT BROKER DEALERS MAR 08, 2010
'Disrespected' Regal Financial bolts from AIG's SagePoint

In a huge blow to SagePoint Financial Inc., one of three broker-dealers that make up the AIG Advisor Group Inc., its largest branch of reps and advisers is walking out the door following a bitter dispute over the latter's role and future at SagePoint.

RIA NEWS MAR 07, 2010
Schwab ordered by Finra to pay ex-employee $1.8M

The self regulatory organization ruled that Schwab's human resources group committed “gross negligence, and contributed to the damages suffered” by a former employee who claimed the brokerage had made defamatory comments on his termination notice.

RIA NEWS MAR 07, 2010
Next N.Y. attorney general will wield power in financial circles

It's early, but brokers and bankers should be tuned into the New York AG race to get a feel for their futures

REGULATION AND LEGISLATION FEB 28, 2010
Morgan Keegan's legal fees are piling up

Facing intense pressure from securities regulators and investors, Morgan Keegan & Co. Inc.'s legal fees have skyrocketed during the past two years to $251 million, leaving some industry observers shocked.

REGULATION AND LEGISLATION FEB 25, 2010
Morgan Keegan scores an arbitration win over bond fund blowups

After a string of high-profile securities arbitration losses, Morgan Keegan & Co. Inc. emerged as a winner in an $8.2 million investor complaint that alleged unsuitability and breach of fiduciary duty related to firm's bond funds.