There are newer employer reviews for Waddell & Reed

2 people found this helpful

A rather depressing experience.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Intern in Riverside, CA
Former Employee - Intern in Riverside, CA

I worked at Waddell & Reed

Pros

Large company, high growth of salary opportunities

Cons

The people in the office just didn't seem very smart. Oily salesman ethos all over the place. Disconnect between the people who create the funds and those who are recommending them.

Advice to ManagementAdvice

Create a nicer work environment both physically and in regards to the human capital.

Doesn't Recommend
No opinion of CEO
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  1. Should have done my due diligence.

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

    I worked at Waddell & Reed

    Pros

    Flexible hours, unlimited earning potential.

    Cons

    Very limited training and development. Little to no assistance from management to help you jump start your client base. No benefits or salary.

    Doesn't Recommend
    No opinion of CEO
  2. 4 people found this helpful

    expensive, proprietary and cannot fulfill all of client's needs

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

    I worked at Waddell & Reed

    Pros

    Great commissions, easy to learn product base (because it is limited, which is not a good thing for your clients)

    Cons

    You only sell proprietary funds IVY and Waddell and Reed.
    They push insurance and their "MAP" program for all clients even if the products aren't appropriate.
    MAP program has a CDSC 3,2,1% which is absord to have that for a Mutual fund.
    They want you to sell financial plans to everyone and their mother. most companies create the financial plan for free, I know my new company does. Why charge your clients for a financial plan when everyone else does it for free?
    They company only care about its IVY side and i wouldn't be surpised if the Financial Planning side disappeared in 10 years.

    Advice to ManagementAdvice

    You tell your new advisors you can make this $xxx,xxx per year which is a lie. In addition, nobody wants waddell and reed/proprietry funds.

    Doesn't Recommend
    Disapproves of CEO
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