Bruce Kelly
InvestmentNews
New York, NY, United States
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Discover and connect with journalists and influencers around the world, save time on email research, monitor the news, and more.
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Past articles by Bruce:
Top InvestmentNews website search terms in 2022
InvestmentNews wanted to feature the most searched terms on its website, looking to show what was on readers’ minds in 2022. → Read More
Wirehouse recruiting losses have accelerated
In 2017, Morgan Stanley and UBS shook up the industry when they exited an agreement on recruiting brokers. Take a look at the data on brokers leaving the wirehouses before and after 2017. → Read More
Top-earning CEOs at broker-dealers
Chief executives at leading brokerage and advisory firms are earning more money than ever. Here are the 2021 compensation numbers for some of the most notable executives. → Read More
Average annual revenue of advisers at big firms
Few broker-dealers publicly report the amount of revenue their financial advisers generate on average each year. InvestmentNews recently began tracking these figures. → Read More
Average production of financial advisers
InvestmentNews reviewed company filings from the to see how much annual revenue financial advisers at publicly traded firms generated. → Read More
7 influential PE investments in wealth management
Private equity managers and funds have been investing heavily the past few years in the wealth management industry, driving up valuations of registered investment advisers to unprecedented levels. But PE funds have been focused on wealth management firms of all stripes for more than a decade and a half. Here are some highly notable deals. → Read More
Brokers used worst tactics in Wall Street playbook to sell GPB placements
Selling GPB private placements was lucrative to reps and their broker-dealers, but private suites at Madison Square Garden are beyond the pale. → Read More
Facing competition, Raymond James boosts recruiting bonus
COVID-19 and increased competition slowed recruiting in 2020, according to CEO Paul Reilly. Now, the firm is beefing up compensation. → Read More
National Securities landed $5.5 million PPP loan last year
While National Securities surpassed that number of reps the PPP program was designed for, many were independent contractors not employees. → Read More
Texas broker charged with child sexual assault
Gregory Estes, who has been a registered rep with SA Stone Wealth Management Inc. since 2012, now faces four charges in total. → Read More
Now that Wells Fargo has a plan, what's in it for advisers?
CEO Charlie Scharf is making changes to reduce costs at Wells Fargo Wealth and Investment Management, which houses Wells Fargo Advisors. → Read More
Morgan Stanley adds close to 500 new advisers in 2020
CEO James Gorman said that last year was the first time in decades he had not seen "net attrition," or a net loss, of advisers. → Read More
The Merrill Lynch hunt for new clients tamed by COVID-19
The pandemic hampered Merrill Lynch efforts to reel in new clients as net new households declined 37% in 2020, according to the firm. → Read More
Wells Fargo reports another sharp annual decline of advisers
Financial advisers are usually off limits when it comes to large institutions looking to cut costs and personnel, but not at Wells Fargo.. → Read More
Ed Butowsky pulls Twitter apology to brother of Seth Rich
Ed Butowsky offered an apology to the brother of former DNC staffer Seth Rich on Twitter — then deleted the tweet. → Read More
Raymond James cut executive pay in 2020
Raymond James cut executive pay in its fiscal year 2020, as the firm laid off employees and dealt with the turmoil created by COVID-19. → Read More
'Rule of law prevailed': Advisers confident after riots at US Capitol
Advisers were clearly distraught by the U.S. Capitol riots, but expressed faith in the future of the markets and democracy. → Read More
LPL hit with $6.5 million Finra fine over lax supervision
The LPL fine addressed failures to maintain proper oversight of advisers, which included a Ponzi scheme, according to the regulator. → Read More
SEC slams Voya Financial with $23 million fine for conflicts at RIA
The SEC fine Voya received stems from conflicts of interest ranging from 12b-1 fees to cash sweep accounts to alternative investments. → Read More
Brokers, tell the BD when selling cannabis investments
Don't risk letting your career go up in smoke by not disclosing investments in cannabis to the broker-dealer → Read More