Waddell & Reed

  www.waddell.com
  www.waddell.com
There are newer employer reviews for Waddell & Reed

 

Very independent work place, you fail and succeed on your own.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Financial Advisor
Current Employee - Financial Advisor

I have been working at Waddell & Reed

Pros

-Own Boss
-Good funds
-Strong home office

Cons

-No motivation
-Technology needs a huge update

Doesn't Recommend
Approves of CEO

175 Other Employee Reviews for Waddell & Reed (View Most Recent)

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  1. 1 person found this helpful  

    Skip it and go straight to a wirehouse if you can. If not, this is a good Plan-B.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor

    I worked at Waddell & Reed

    Pros

    Entrepreneurial
    No salary cap
    Get your Series 7/66 and insurance licenses
    Ability to work here part time while you study for your exams

    Cons

    Be careful... You will get pressured into bringing your family and friends on board. You can't really survive in this biz on your current connections alone though. At some point you will have to "prospect" for clients. Don't fool yourself candidates, this is a sales job and nothing else.

    Also don't believe management's promises about assigning you "orphan accounts" or their statistics regarding retention ratios of first year advisors. It's all part of the sales pitch: they are selling you the dream.

    Advice to ManagementAdvice

    Where do I begin... Instead of pumping new recruits for their contacts, teach and encourage them to sell. It's like a comical revolving door of underqualified candidates.

    Doesn't Recommend
    Disapproves of CEO
  2.  

    Disappointing experience as an FA.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Waddell & Reed

    Pros

    Emphasis on use of financial planning, long history as a firm, neighborhood office location compared to the traditional urban wirehouse.

    Cons

    Disorganized at branch level, lack of coordination with home office, not sufficiently selective in hiring branch employees, which ultimately falls on the branch. Branches are too reliant on proprietary products.

    Advice to ManagementAdvice

    Provide more support to financial advisors, be more selective in hiring process of FA's and managers. Be more aware of actual activities and management of individual branches.

    Doesn't Recommend
    No opinion of CEO
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