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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Giant RIA merger creates firm with $15 billion in assets
RIA NEWS MAY 16, 2023
Giant RIA merger creates firm with $15 billion in assets

The management of Adviser Investments, Ropes Wealth and Summit Partners will own the combined firm.

Advisor Group loses teams with $615 million to Commonwealth, LPL
INDEPENDENT BROKER DEALERS MAY 16, 2023
Advisor Group loses teams with $615 million to Commonwealth, LPL

Trusted Wealth Partners in Omaha, Nebraska, is moving to Commonwealth while Connecticut-based Hedberg Wealth Management is going to LPL.

Cetera sees dozens of Securian advisors walk in wake of deal
INDEPENDENT BROKER DEALERS MAY 15, 2023
Cetera sees dozens of Securian advisors walk in wake of deal

According to InvestmentNews data, the top two destinations for advisors leaving Securian this year are LPL Financial and StanCorp Equities.

Finra kicks B-D out of industry for Reg BI failures linked to pre-IPO market
REGULATION, LEGAL & COMPLIANCE MAY 12, 2023
Finra kicks B-D out of industry for Reg BI failures linked to pre-IPO market

Melville, New York-based SW Financial received $2 million in undisclosed compensation for selling the private placements, according to Finra.

LPL adds long-time Advisor Group advisor with $220 million
INDEPENDENT BROKER DEALERS MAY 10, 2023
LPL adds long-time Advisor Group advisor with $220 million

Michelle Brennan Hall had been registered at FSC Securities since 1989.

Wells Fargo team with $1 billion jumps to RIA
PRACTICE MANAGEMENT MAY 10, 2023
Wells Fargo team with $1 billion jumps to RIA

The Compass Group advisors are joining DayMark Wealth Partners, a Cincinnati, Ohio-based RIA with $907 million in assets.

Here's why the real estate market is too shaky even for spiffed-up REITs
ALTERNATIVES MAY 09, 2023
Here's why the real estate market is too shaky even for spiffed-up REITs

At least one critic of the newfangled REITs is not convinced they can weather the storm in commercial real estate.

Advisor Group B-D snares RBC advisors with $250 million in client assets
INDEPENDENT BROKER DEALERS MAY 09, 2023
Advisor Group B-D snares RBC advisors with $250 million in client assets

Minnesota-based Tom Delich had worked at RBC for almost 23 years; he and his team are joining Financial Dimensions Group, a unit of Royal Alliance Associates.

Despite JPMorgan's recount, dozens of advisors have fled First Republic
INDEPENDENT BROKER DEALERS MAY 04, 2023
Despite JPMorgan's recount, dozens of advisors have fled First Republic

JPMorgan now says there were 229 financial advisors in First Republic's wealth management unit when it acquired the bank earlier this week, up from the 150 total its CFO cited Monday.

Wealth Enhancement Group snaps up Iowa RIA with $355 million in assets
RIA NEWS MAY 03, 2023
Wealth Enhancement Group snaps up Iowa RIA with $355 million in assets

The deal for Dubuque-based Heacock & Jones Financial Services is Wealth Enhancement Group's sixth acquisition this year.