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The InvestmentNews Podcast With Jeff Benjamin and Bruce Kelly

Veteran financial reporters Bruce Kelly and Jeff Benjamin take the listener beyond the page, into the heart of the story.  With exclusive interviews of industry leaders and the hosts’ depth of knowledge, this podcast dives deep into a few select topics each week.  The listener will gain new insight into the financial services industry, while Jeff and Bruce keep it all moving with a lighthearted approach.   

The Hosts

Jeff Benjamin and Bruce Kelly have both written for InvestmentNews for more than two decades. Jeff is InvestmentNews’ investment products and strategies reporter, and he covers practice management, M&A activity, and some regulatory issues. Bruce writes primarily about the brokerage industry and its myriad facets, from adviser pay and product sales to M&A.

Presented by:Jeff Benjamin and Bruce Kelly

Recent episodes

Episode 49 May 17, 2021
The autistic adviser: Andrew Komarow and his niche firm plan for those on the spectrum
Andrew Komarow, financial planner, owner of Planning Across the Spectrum and autistic himself, shares his story and talks about the importance of financial planning for families with neurodivergent members. Kevin Keller, CEO of the CFP Board, joins to talk about the board's plans and the proliferation of sometimes questionable designations.
Episode 48 May 10, 2021
Death and taxes. Biden’s bold plans and impact on taxes
D.C. expert and policy wonk Mark Schoeff Jr. joins Bruce and Jeff to discuss the details of Biden's three big initiatives so far, The American Rescue, Jobs, and Families plans. The trio debate the merits of spending trillions to help Americans, and the tax ramifications.
Episode 47 May 03, 2021
Advisers cautious on crypto; FPA externships 1 year later
Sean Allocca and Nicole Casperson look at the reasons many advisers are cautious when it comes to digital assets. Hannah Moore joins to give a one-year update on the FPA's resoundingly successful externship program.
Episode 46 April 26, 2021
Annual IBD Report Card and an Earth Day check-in on ESG
With Jeff 'planting trees' on Earth Day, guest host Liz Skinner steps in to chat with Bruce and guest Dennis Gallant about Bruce's annual IBD report card. This year's theme? Fees. Commission to fee-only, fee-erosion, and how thus affects wirehouses.
Episode 45 April 19, 2021
Risky business! Impacts of rogue brokers on firms and Amy Domini talks ESG
The recent passing of 'The baddest broker of all time,' Bernie Madoff, reminds us that one bad broker can bring ruin to a firm. Ben Edwards, law professor at UNLV joins to discuss the 'one bad broker' rule and more. Amy Domini also chats with Jeff and Bruce about her historic career as one of the originals of ESG and why the overnight rise of ESG isn't so overnight.
Episode 44 April 12, 2021
Pooled employer plans
Emile Hallez joins for a deep discussion on all things pooled employer plans (PEP). What role do PEPs play in the landscape, who uses them, the impact on RPAs, and more.
Episode 43 April 05, 2021
The benefits of equal-weight index funds and Financial Gym puts a new spin on financial planning
Many retail investors do not the difference between an equal-weighted index versus a cap-weighted index. Michael Willis explains why the difference matters. Shannon McLay joins to share her story of founding the disruptive and influential start-up looking to change the way financial planning is done.
Episode 42 March 29, 2021
‘I can’t let these people re-write history.’ Susan Antilla on her long crusade to rid Wall Street of sexual harassment.
Susan Antilla has spent more than 25 years writing about and exposing sexual harassment and discrimination on Wall Street. She joins the pod today to talk to Jeff and Bruce about her stellar career, her work, and progress made.
Episode 41 March 22, 2021
‘ESG investing is just investing.’ Erika Karp’s straight talk on ESG and a chat about SPACs.
Erika chats with Jeff and Bruce about all things ESG investing, Impact, why it's important for advisers to go beyond the labels. Nicole Casperson joins to discuss SPACs and why so many celebrities are hitching their brand to the SPAC bandwagon.
Episode 40 March 15, 2021
40 years in the making: The final SEC rule on adviser marketing
Kurt Wolfe, securities attorney with Troutman Pepper, discusses the final updated rules from the SEC on adviser marketing. The rule hasn't changed in nearly 40 years, so Jeff, Bruce, and Kurt have plenty to discuss, including what is allowed in the new guidelines, differences for brokers vs. advisers, and more.
Episode 39 March 08, 2021
‘Our research consisted of dime bags, back in the day.’ Getting serious about cannabis investing and RIA roll-ups
Nathan Parkins of Molei Financial & Fincap Advisers joins Jeff and Bruce to discuss the very real business of cannabis investing.
Episode 38 March 01, 2021
On Bitcoin and the Wells Fargo Asset Management sale
They may not be "hodling" by the end of the episode, but you'll learn not only some of the basics, but interesting details, why it works and whether crypto ETFs make any sense.
Episode 37 February 22, 2021
Ariel Alternatives seeks to close the racial wealth gap, plus a dive into HSAs
Les Brun, Co-Founder of Ariel Alternatives, shares his vision for "Project Black," the firm's initiative to invest in middle-market companies to scale the number of minority owned businesses.
Episode 36 February 12, 2021
Rick Ferri on adviser fees, Jason Kane on class-action lawsuit against GPB Capital
Rick Ferri joins to discuss his latest call for a change in adviser fees. Attorney Jason Kane discusses his firm's class action lawsuit against embattled GPB Capital.
Episode 35 February 08, 2021
‘Moneymaking and money losing.’ Amid fallout from Robinhood, GameStop and Reddit, what will regulators do?
Tyler Gellasch from Healthy Markets joins Jeff and Bruce to discuss what the potential regulatory fallout will be from the recent spate of social media fueled trading frenzies.
Episode 34 January 29, 2021
‘How is this ultimately going to end? Poorly.’ A look at the GameStop roller coaster, as well as Schwab’s adviser service issues
Paul Schatz joins to explain the nuances of the Gamestop saga. There are reasons beyond just a Reddit group for the wild action, and Paul goes through all of it.
Episode 33 January 22, 2021
A new day in Washington, but what does that mean for financial services?
D.C. correspondent Mark Schoeff joins Bruce and Jeff to look at the full impact of the new Biden/Harris administration on the advisory business. What will change quickly, what won't, and what happens to Reg BI?
Episode 32 January 15, 2021
IBDs and cybersecurity in the wake of SolarWinds
Nick Harness, CIO from Kestra Financial, discusses the recent SolarWinds security breach and cyber security for IBDs. Jeff Benjamin and Bruce also discuss political campaign donations being cutoff in the wake of the Capitol insurrection.
Episode 31 January 08, 2021
Bob Doll’s 2021 Prediction Special
Bob Doll joins Jeff and Bruce for a solid conversation breaking down not only his 2021 market predictions, but his own story and his Nostradamus batting average.
Episode 30 January 04, 2021
Mark Bruno on the big picture of M&A in the RIA space
Mark Bruno joins Jeff and Bruce to kick off 2021 with a detailed look at mergers and acquisitions in the RIA space.
Episode 29 December 21, 2020
“A lot of dialogue is going to turn into action.” A 2020 review and look ahead
From becoming woke, to hitting a black bear, to learning the thrilling and scary news that one is expecting during a pandemic, our staff members open up about their unique trials and triumphs this year.
Episode 28 December 16, 2020
RPA Special Edition Part 2 – Introducing the Chief Governance Officer role
The new idea of a Chief Governance Officer role. Would it add to the fiduciary load and does it provide revenue opportunities?
Episode 27 December 14, 2020
“FPA must become more relevant to financial planners at every stage of their careers.”
Patrick Mahoney, new CEO of the FPA, on the challenges and opportunities ahead for the FPA
Episode 26 December 07, 2020
Portfolio makeovers with Morningstar’s Christine Benz plus a peek behind the scenes of the ESG Film Festival
Jeff Benjamin gets a makeover! For his portfolio that is. Christine Benz of Morningstar hosts an annual portfolio makeover, plus the boys talk to Steve Lamb about the ESG Film Festival
Episode 25 December 03, 2020
RPA Special Edition Part 1 – The Hot RPA M&A market
It seems like overnight that the retirement plan adviser mergers and acquisition market exploded fueled in part by a flood of private equity money.
Episode 24 November 30, 2020
How will global markets react to U.S. election? Jeffrey Kleintop on this and more
Schwab's chief global investment strategist Jeffrey Kleintop joins Jeff Benjamin and Bruce Kelly to chat about the global markets and how they'll react to the U.S. elections, the ongoing pandemic and Black Friday.
Episode 23 November 23, 2020
On a tear! CI Financial scoops up U.S. RIAs at breathtaking pace
Episode Summary Kurt MacAlpine, CEO of Canada’s CI Financial, joins Jeff Benjamin and Bruce Kelly to talk about his company’s buying spree. CI Financial has…
Episode 22 November 16, 2020
A call for pro bono in financial services
Jeff Benjamin and Bruce Kelly welcome Jon Dauphine from FFP to discuss his group's call asking for advisers to commit to at least 25 hours of pro bono work a year.
Episode 21 November 10, 2020
2020 presidential election: Financial services will ‘be looking to play defense under Biden’
Jeff and Bruce talk with IN's D.C. correspondent, Mark Schoeff, about what advisers can expect from the incoming administration in terms of department heads, regulations, ESG and of course, taxes.
Episode 20 November 09, 2020
Doubleheader: Nicole Casperson on free robo-platforms and Todd Rosenbluth on semitransparent ETFs
Nicole talks on how digital advice is a means to cross sell, and Todd dives deep into all things semitransparent ETF
Episode 19 November 02, 2020
Would a Democratic election impact financial regulations?
If Democrats win the 2020 election, how will financial regulations be affected?
Episode 18 October 26, 2020
‘I’m getting lit up on TikTok!’ A candid conversation with Josh Brown
The story behind Josh Brown’s latest book, 'How I Invest My Money,' as well as other interesting stories
Episode 17 October 19, 2020
‘All trick and no treat.’ Mary Beth Franklin on the Social Security trust fund crisis and Wells Fargo lays off advisers
Hosts Jeff Benjamin and Bruce Kelly tackle the Wells Fargo riddle, with it's budget cuts that sent a sizable group of advisers packing. The Social Security trust funds, created to help pay future retirement benefits when payroll tax revenues alone are no longer sufficient, will run dry sooner than previously predicted due to the COVID-19 pandemic and the recession it triggered. Mary Beth Franklin joins to discuss her important cover story.
Episode 16 October 12, 2020
Schwab closes $22 billion acquisition of TD Ameritrade. Nicole Casperson breaks it down
Hosts Jeff Benjamin and Bruce Kelly are joined by fellow InvestmentNews reporter Nicole Casperson to discuss what the Schwab-TD megamerger means for the overlapping custodial platforms.
Episode 15 October 05, 2020
The future of financial planning
Reporter Emile Hallez discusses his cover story about DNA and Biological-age testing and how it could reshape financial planning.
Episode 14 September 28, 2020
‘You’re fooling yourself.’ Burton Malkiel takes on ESG investing
The legendary economist and author believes the current hot trend of ESG investing is ineffective and espensive.
Episode 13 September 21, 2020
The NFL and Financial Advisers
This week we looking into the NFL Players Association rules for hiring financial advisers, along with the poor performance of active management. Hosts Jeff and Bruce also look at job cuts at Raymond James, a guest appearance by IN reporter Emile Hallez to discuss his latest cover story, and we grade Morningstar’s virtual conference.
Episode 12 September 14, 2020
Social Security with Mary Beth Franklin
This week we take deep dives into three hot topics with the help of two special guests. Mary Beth Franklin explains why it might make sense to increase the Social Security tax threshold along with the payout. Hosts Jeff Benjamin and Bruce Kelly discuss how the biggest banks are clamping down on giving and receiving perks. And InvestmentNews special projects editor Liz Skinner cuts through the noise of diversity and inclusion in financial services.
Episode 11 August 31, 2020
The weather and political temperature in Washington are hot
From Washington, D.C., special guest Mark Schoeff joins hosts Jeff Benjamin and Bruce Kelly to look at the fallout for the wealth management industry in the wake of both the Democratic and Republican national conventions
Episode 10 August 24, 2020
Mixing politics and financial advice is a dangerous cocktail
Financial advisers showing their political colors on social media should be prepared to suffer the consequences, which are rarely positive. Hosts Jeff Benjamin and Bruce Kelly also discuss the drop-off in broker recruiting, whether bonds still make sense, a bad broker, and how New York might recover from the Covid-19 beat down.
Episode 9 August 17, 2020
Sell baby sell! Merrill Lynch pulls the reins in on trainee program
This week’s episode kicks off with a look at Merrill Lynch’s headache trying to manage broker trainees who are learning to cold call from home. Hosts Jeff Benjamin and Bruce Kelly also discuss how Morgan Stanley will absorb the ETrade custody business, the realities of buffered ETFs, the driving force behind RIA consolidation, and the incredible access to industry execs in the age of Covid.
Episode 8 August 11, 2020
The big juicy pork chop
Jeff Benjamin and Bruce Kelly analyze LPL Financial’s latest effort to stay ahead of the recruiting curve by offering what Bruce describes as a “big, juicy pork chop” to employee advisers. This episode also looks at the latest departure from TD Ameritrade, what will happen to ETrade’s custody business, and what’s up with all the 'chiefs' populating corporate America.
Episode 7 August 03, 2020
Will ESG be allowed in 401(k) plans? Special Guest Mark Schoeff weighs in
Co-hosts Jeff Benjamin and Bruce Kelly challenge InvestmentNews colleague Mark Schoeff on why ESG strategies often don’t find their way onto company sponsored retirement plan menus. This episode also looks at the sad regulatory record of Purshe Kaplan Sterling, why Vanguard shut down $1 billion mutual fund, what second-quarter earnings reports say about the future of wealth management, and how the lockdown is impacting industry gossip channels.
Episode 6 July 27, 2020
Schwab-TD mega merger w/ special guest Dani Fava
Jeff and Bruce get the details on Dani Fava’s celebrated move to Envestnet and why it matters to advisers. After that, they dissect the missing assets at GPB Capital, explain the pros and cons of zero-fee ETFs, look at the headaches of fintech platform consolidations, and ask whether Covid-19 is becoming a standard excuse for bad customer service.
Episode 5 July 20, 2020
A closer look at Joe Biden’s tax plan and the potential for a financial transaction tax.
This week Jeff and Bruce look at how certain taxes are ultimately paid by adviser clients, the slow start but new momentum of M&A activity in the RIA space, how Wells Fargo is cracking down on the use of the TikTok app, and what it’s like to start a new job in the middle of a pandemic.
Episode 4 July 13, 2020
PPP loans continue to haunt the wealth management industry, Bruce and Jeff explain why, plus more.
This week’s episode takes a look at the use of PPP (Paycheck Protection Program) loans in financial services, the appeal of new semitransparent ETFs, Cetera’s recruiting efforts, the need for alternative investments, and what going back to the office looks like.
Episode 3 July 06, 2020
The new reality of Reg BI and why brokers and advisers will continue to butt heads. Plus, breakaway brokers, Fed commissions, and what’s up with PR embargoes?
Why we think the introduction of Regulation Best Interest is not the end of the debate over how brokers and advisers are regulated. Our hosts also look at new data from TD Ameritrade about what is driving brokers toward the independent channel, what you can find in a company’s focus report, the true cost of free trading, and the love-hate relationship with public relations practitioners.
Episode 2 June 29, 2020
Jay Clayton’s legacy as chairman of the SEC. Plus, broker pay cuts, the upside of outsourcing asset management, and the quirky investigation of a lawyer who does nothing but expunge client complaints from brokers’ records
The momentum continues with the second weekly episode of the InvestmentNews Podcast, where senior columnists Jeff Benjamin and Bruce Kelly take opposing sides of some important issues facing the wealth management industry.
Episode 1 June 22, 2020
Financial services gets a failing grade for diversity. Plus what the second half looks like, looming layoffs and those controversial forgivable loans
The inaugural episode of the InvestmentNews Podcast doesn't hold back; diving into essential topics for the financial advice industry from diversity to succession planning to potential layoffs and cost cutting to come at large firms that advisers rely on for service and technology.

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