Waddell & Reed
3.1 of 5 150 reviews
www.waddell.com Overland Park, KS 1000 to 5000 Employees

Waddell & Reed Reviews

Updated Jul 6, 2014

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3.1 150 reviews

                             

75% Approve of the CEO

Waddell & Reed President, CEO, and Director Hank Herrmann

Hank Herrmann

(95 ratings)

44% of employees recommend this company to a friend
150 Employee Reviews
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Review Highlights

Pros:
  • "Great resources to some of the best mutual funds in the industry"
    in 21 reviews
  • "Has taught me a lot about the ways of the financial planning industry"
    in 8 reviews
Cons:
  • "You will get pressured into bringing your family and friends on board"
    in 7 reviews
  • "I didn't know that when I signed on to become a Financial Advisor"
    in 9 reviews
  • Show more review highlights

Reviews

    1 person found this helpful  

    Good experience, but could have some improvements

    Financial Advisor Trainee (Former Employee)
    San Diego, CA

    ProsThe environment of the office was good. It was always enjoyable to be in the office. The management was kind and sincere.

    ConsThere was not much guidance from the top. Sometimes would not have any projects to do, so you have to create your own.

    Advice to Senior ManagementHave more guidance.

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    1 person found this helpful  

    Good place to learn how the financial planning industry works

    Anonymous Employee (Current Employee)

    ProsGood location, nice boss, flexible hours, gain experience in finance industry, and free food a lot which is awesome. Overall I like it a lot.

    ConsUnstable leadership, and a competitive environment. You don't really have co-workers. It isn't a team atmosphere. So if thats what you like I don't think this place would be for you.

    Advice to Senior ManagementBring people together a bit more, and find a way to retain/hire competent advisors. Management may want to consider hiring more interns to help with the data entry/basic work. Mentoring/Internships are a good way to help aspiring planners get an idea of what they will have to do to make it.

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    1 person found this helpful  

    Great company great funds and great management

    Financial Advisor (Current Employee)

    ProsGreat job to have helping people of all financial positions attain the ability to retire with more money than if they had managed it themselves. Help hard working people achieve their financial goals
    Unlimited income potential

    ConsTaking large amounts of time off is difficult as markets change quickly but you make your own schedule as a 1099 person so it comes with built in advantages for people with children

    Advice to Senior ManagementMore localized training and come into the technology age of Twitter, Facebook, LinkedIn etc and a lot less paperwork

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Colorado Springs office is excellent

    Financial Advisor (Current Employee)
    Colorado Springs, CO

    ProsGood pay structure, supportive management and infrastructure, little to no direct competition from supportive colleagues. Emphasis on ethics and personal service regarding clients. You can generally set your own schedule, but some meetings are mandatory.

    ConsNo salary, difficult to get started - These challenges are the standard for this industry, some companies do offer salary but you end up paying for it in other ways.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Greatest opportunity in Colorado Springs!

    Financial Advisor (Current Employee)
    Colorado Springs, CO

    ProsAbility to come into the business at an entry level. Training offers mentors who are willing to help and a supportive team environment. Leadership seems to really care about the staff and are very helpful. Very flexible with hours and you can make a lot of money here.

    ConsYou do have to build your practice, but there are a lot of resources available to help you do this. Not an opportunity for everyone, but a great opportunity for the right people!

    Advice to Senior ManagementKeep up the good work!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Right Vision, Right Place, Client-centered

    Financial Advisor (Current Employee)
    Colorado Springs, CO

    ProsOpportunity to build your own business based on your strengths; excellent pay structure; the best fund families in the business; you are not considered a captive agent, you are truly allowed independence when it comes to the availability of products for clients.

    ConsUp-front time demands can be difficult, especially if you do not already have money squirrelled away for building your business. The 100% commission + bonus base can be difficult in the first few years.

    Advice to Senior ManagementAssist new advisors in true business planning (not just using the game of numbers), target/niche market development

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    My experience at Waddell & Reed was exciting!

    Financial Advisor Trainee (Former Employee)
    Wilmington, DE

    ProsProfessionals who know there stuff.

    ConsYou have to pay to take the exams yourself.

    Advice to Senior ManagementClasses could give more hands on lessons.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Great for experience advisor

    Financial Advisor (Current Employee)
    Los Angeles, CA

    ProsHigh payout percentages, great management, company that actually does what is best for clients

    ConsLong hours, tough industry to break into if new, commission only position

    Advice to Senior ManagementWhen advisors aren't producing, usually that means there is something more serious going on. Discipline only makes it worse

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • Disapproves of CEO

     

    They care nothing about you as an employee

    Financial Advisor (Current Employee)
    Kansas City, KS

    ProsOne day you might work your way up to a position where you can look down on your underlings and let them know how much better you are than them.

    ConsManagers treat you like scum and care only about your numbers. Don't expect any development, training, or help of any kind. No mistakes are allowed. One and done.

    Advice to Senior ManagementQuit.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    Challenging

    Financial Advisor (Former Employee)
    Saint Louis, MO

    ProsThe office that I worked in was awesome. They were very encouraging, helpful and supportive.

    ConsIf you are a new Financial Advisor or are a less established Financial Advisor this firm is not for you. The paperwork is out of control and they home office associates need to be better trained. The beack office needs to be more streamlined as well. This firm is not supportive of all its FInancial Advisors.

    Advice to Senior ManagementIf this firm wants to move forward and prosper. They need to change their business model and get new executive management.

    No, I would not recommend this company to a friend

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