Waddell & Reed Reviews

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4.7
Recommend to a friend
Approve of CEO
Waddell & Reed President, CEO, and Director Hank Herrmann
Hank Herrmann
4 Ratings

Pros
  • Waddell & Reed Mutual Funds are fantastic with great leadership at the flagship (in 22 reviews)

  • Pioneers of financial planning and great lineup of mutual funds (in 10 reviews)

Cons
  • If you are a new Financial Advisor or are a less established (in 12 reviews)

  • Hard to survive the first year, 100% commission, pay yourself to get started (in 9 reviews)

More Pros and Cons

4 Employee Reviews

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  1. Helpful (2)

    Waddell & Reed provides great guidance in a tough business

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Denver, CO
    Current Employee - Financial Advisor in Denver, CO

    I have been working at Waddell & Reed full-time (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Hands on support from managers (who are no longer producing advisors) and colleagues. Competitive products and a vast array of financial planning tools and resources.

    Cons

    Challenges are specific to the industry as a whole. The manager that hired me made it known off the bat that this is a tough business, but helped me to understand how they would help me through these challenges.

    Advice to Management

    Great job!


  2. Great place to build your career

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Denver, CO
    Current Employee - Financial Advisor in Denver, CO

    I have been working at Waddell & Reed full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    low cost structure in office

    Cons

    Two separate platforms. Brokerage, proprietary


  3. Great, if you already have experience and some money aside

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Classic Advisor in Denver, CO
    Current Employee - Classic Advisor in Denver, CO

    I have been working at Waddell & Reed

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    Freedom to do what you want, when you want. If you are meeting your guidelines, nobody will be looking over your shoulder. If you plan to stay at it for long time, the potential for growth is tremendous.

    Cons

    Very little training or support from the beginning. Only commission based, which is extremely rough in the first couple years. Depends on the office, but there can be little or no help offered from other advisors; they may even see you as a threat.

    Advice to Management

    Pay for the licenses up front and offer some sort of base wage for at least a few months, even if it means that some sort of employment contract is involved.


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  5. Good start but not attractive in long-term

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Advisor Associate in Golden, CO
    Current Employee - Advisor Associate in Golden, CO

    I have been working at Waddell & Reed

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    Work for yourself, time flexible, reward & contribution total depends on how much you want to work. great sales support.

    Cons

    have to make one million sales every year, hard to maintain.

    Advice to Management

    should give new advisors lower sales target and longer time.



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