Waddell & Reed

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Waddell & Reed Reviews

Updated August 19, 2014
Updated August 19, 2014
153 Reviews

3.5
153 Reviews
Rating Trends

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Waddell & Reed President, CEO, and Director Hank Herrmann
Hank Herrmann
98 Ratings

Review Highlights

Pros
  • Great resources to some of the best mutual funds in the industry (in 21 reviews)

  • Freedom to own my book of business (in 5 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 10 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Good environment, great people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Advisor Associate  in  Corpus Christi, TX
    Former Employee - Advisor Associate in Corpus Christi, TX

    Pros

    Employees hold true to company values, good work environment. Strong team of knowledgeable, driven leaders who are eager to guide you to success. Effective communication. Very satisfied with the work-life balance. Promotions are there if your work ethic is!

    Cons

    For advisors, no base pay. More traditional-style company, perhaps less tech-relevant than others. No national advertising, brand name may not be as emphatic as competitors.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Great company, great management!

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

    Pros

    This company is awesome for the following reasons: Flexibility in work schedule, you own your book of business, higher payouts than Merryl Lynch, Morgan Stanley, or those other employee-type firms. Plus the renewal income on assets is much higher than the other outfits I've looked at. Also, the marketing programs they have for you to plug into are awesome. You get to run your business as you see fit, but you aren't out there all by yourself. We all work together in our Hartford branch.

    Cons

    can't think of anything now.

    Advice to ManagementAdvice

    keep up the great work!

    Recommends
    Positive Outlook
    Approves of CEO
  3. 1 person found this helpful  

    Colorado Springs Office - Excellent Choice!

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

    Pros

    Mentors help newer advisors learn the ropes and most senior advisors are approachable. Once you are up and running, as long as you're making your numbers, there isn't much "required" from management. Relationships are key to building and growing your business. It is your book of business and can be sold at any time.

    Cons

    If you're just getting started, be prepared to work 60+ hours each week filling your pipeline. Pure commission-based earnings (with some bonuses). In this field, none of the cons should be a surprise. You are building your own business.

    Advice to ManagementAdvice

    Keep building the training program and using mentors to assist newer advisors in learning the ropes.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 1 person found this helpful  

    Good experience, but could have some improvements

    Former Employee - Financial Advisor Trainee  in  San Diego, CA
    Former Employee - Financial Advisor Trainee in San Diego, CA

    Pros

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

    Cons

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

    Advice to ManagementAdvice

    Have more guidance.

  6. 1 person found this helpful  

    Good place to learn how the financial planning industry works

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

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

    Cons

    Unstable 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 ManagementAdvice

    Bring 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.

  7.  

    Good company to work for!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Executive Administrative Assistant  in  Overland Park, KS
    Current Employee - Executive Administrative Assistant in Overland Park, KS

    Pros

    Well established company located in Shawnee Mission. Free parking. Tuition reimbursement available. Big company - lots of opportunity for advancement.

    Cons

    No training available for new employees.

    Recommends
    Positive Outlook
    Approves of CEO
  8. 1 person found this helpful  

    Great company great funds and great management

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

    Pros

    Great 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

    Cons

    Taking 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 ManagementAdvice

    More localized training and come into the technology age of Twitter, Facebook, LinkedIn etc and a lot less paperwork

    Recommends
    Positive Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Colorado Springs office is excellent

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

    Pros

    Good 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.

    Cons

    No 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.

    Recommends
    Positive Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Greatest opportunity in Colorado Springs!

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

    Pros

    Ability 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.

    Cons

    You 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 ManagementAdvice

    Keep up the good work!

    Recommends
    Positive Outlook
    Approves of CEO
  11. 1 person found this helpful  

    Great for experience advisor

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

    Pros

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

    Cons

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

    Advice to ManagementAdvice

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

    Recommends
    Positive Outlook
    Approves of CEO

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