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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Merrill Lynch keeps grid intact, cuts pay on small accounts
YOUR PRACTICE PRACTICE MANAGEMENT DEC 04, 2020
Merrill Lynch keeps grid intact, cuts pay on small accounts

Starting in January, advisers will see a reduction in how they are paid for clients' holdings in cash and on accounts under $250,000

'Booyah!' LPL scores win with Waddell & Reed deal, analysts say
NEWS BROKER DEALERS DEC 03, 2020
'Booyah!' LPL scores win with Waddell & Reed deal, analysts say

The largest broker-dealer picked up 900-plus advisers, but most importantly at the right price

LPL to scoop up 900 Waddell & Reed advisers in latest deal
NEWS BROKER DEALERS DEC 02, 2020
LPL to scoop up 900 Waddell & Reed advisers in latest deal

The transaction will cost LPL Financial $300 million and represents $63 billion in assets

Two top B-D executives behind SPACs to buy RIAs and fintechs
YOUR PRACTICE PRACTICE MANAGEMENT DEC 02, 2020
Two top B-D executives behind SPACs to buy RIAs and fintechs

Mark Casady and Larry Roth are longtime leaders in the independent broker-dealer industry

Finra slaps reps who carried client information out the door
NEWS BROKER DEALERS DEC 01, 2020
Finra slaps reps who carried client information out the door

Two former wirehouse brokers run afoul of Reg S-P, according to Finra

Wells Fargo loses defamation fight to fired broker
NEWS REGULATION AND LEGISLATION NOV 23, 2020
Wells Fargo loses defamation fight to fired broker

Amy Webster was a former bank broker for Wells Fargo Advisors for 13 years and claims the company made 'defamatory' remarks on her Form U5

Financial adviser charged with murdering client over alleged Ponzi scheme
NEWS BROKER DEALERS NOV 19, 2020
Financial adviser charged with murdering client over alleged Ponzi scheme

Keith Ashley was already under investigation by the FBI, according to local police

Morgan Stanley fires 10 reps over account takeovers from retired advisers
YOUR PRACTICE PRACTICE MANAGEMENT NOV 19, 2020
Morgan Stanley fires 10 reps over account takeovers from retired advisers

The terminations raise questions about the company's former advisor program known as FAP

Veteran Merrill group with $5 billion jumps to First Republic
NEWS WIREHOUSES NOV 18, 2020
Veteran Merrill group with $5 billion jumps to First Republic

John C. McNamee and Daniel J. White are the latest Wall Street veterans to move to First Republic

Robert Moore returns to advice business to lead giant LPL branch
NEWS BROKER DEALERS NOV 18, 2020
Robert Moore returns to advice business to lead giant LPL branch

The shift in management is not a sign that New Jersey-based Private Advisor Group is for sale, owner says