Waddell & Reed Reviews

Updated August 3, 2015
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3.6
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Approve of CEO
Waddell & Reed President, CEO, and Director Hank Herrmann
Hank Herrmann
121 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

196 Employee Reviews

Sort: Popular Rating Date
  1. Advisor Assistant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Mission, KS
    Current Employee - Anonymous Employee in Mission, KS

    I have been working at Waddell & Reed full-time

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    It can be fun and interesting work when you consider that you are helping people plan for their retirement.

    Cons

    Sales, sales, sales. The company is not high pressure sales, and very hands-off in your approach to clients, but at the end of the day, sales drive everything.


  2. Financial advisor or financial planner career

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

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

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Best team and experience of any interviews I had. Managers care about difference they make with advisors and clients.

    Cons

    Name recognition not so good but lots of great press changing that recently

    Advice to Management

    Thanks for supporting my success


  3. Love this company!

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

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Advisor career best of class done the right way -the way financial planning should be done! Mentorship & training was excellent and managers care!

    Cons

    Business owner mentality is a tough adjustment but with company support best decision ever made


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Solid Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate Advisor in Costa Mesa, CA
    Current Employee - Associate Advisor in Costa Mesa, CA

    I have been working at Waddell & Reed full-time (More than 5 years)

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

    Pros

    Many of the people who work for Waddell & Reed stay there a long time. This gives the company an enjoyable culture.

    Cons

    The technology and processes of Waddell & Reed are slow and outdated. This is improving, but not as quickly as it should. They typically push proprietary products.

    Advice to Management

    Keep making technology upgrades to speed up the paperwork process. Try to get more sales training to your advisors. Allow all advisors to access most of the mutual funds and ETFs so they can provide the client with the best product to fit the needs of the client.


  6. Overall, a great place to work

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

    I worked at Waddell & Reed full-time (More than 5 years)

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

    Pros

    People (depending on your team/department) are great. Benefits are great, including a Pension Plan.

    Cons

    Not much room for growth once you hit a certain level. Some of the technology systems are archaic. You will hear the excuse "that's the way it's always been done" very often. Some of their middle management is questionable, not true leaders, insecure and could benefit from some management courses.

    Advice to Management

    Review your middle management. Become more innovative. Change can be good thing.


  7. Good company

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

    I worked at Waddell & Reed

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

    Pros

    Nice people, good benifets and vacation.

    Cons

    Medium level pay, that is all.


  8. Intern

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

    I worked at Waddell & Reed full-time

    Pros

    Was a great experience. Really learned a lot while I was there.

    Cons

    It was really hard. Great company. But was difficult to succeed.

    Advice to Management

    Keep doing what you are doing. Make sure that future employees have a big market before starting.


  9. Greatest Leader Alive

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst, CIO in Kansas City, MO
    Current Employee - Analyst, CIO in Kansas City, MO

    I have been working at Waddell & Reed full-time

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

    Pros

    I had worked for Hank Herrmann from 2000 to 2013 on a full time basis and now on a part-time basis. He ranks extremely high on many different traits. He is fair, hard working, leads by example and never expects any more than he would expect of himself. He may appear harsh at times but that is because he wants to push people to be their best. He is generous and kind hearted, although, at times he may not appear that way with his words but his actions speak louder and ooze with integrity, humility, generosity, kindness and fairness. I have worked for about 12- to 15- different bosses during my 28-year career and I would rank him in the top 1 percentile.

    Cons

    The company has grown a lot and that can make things more difficult particularly when it relates to maintaining their culture.

    Advice to Management

    Stay humble and keep doing what you are doing.


  10. Current Advisor

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

    I have been working at Waddell & Reed full-time (More than 8 years)

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

    Pros

    Culture is good, payout is competitive and product selection is good.

    Cons

    Although there is access to outside companies there is still a push from upper Managment to use proprietary investments.

    Advice to Management

    Make all MAP products available to classic advisors and this will allow us to provide clients with the best investment tools available. The choice platform is what all the advisors should have access to and if you would like to keep quality advisors.


  11. Helpful (5)

    sales...

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

    I worked at Waddell & Reed

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    -They provide on-site training and support to become familiar with their products -They offer some flexibility on working hours

    Cons

    -They are a sales organization...and the primary objective is to sell products and services by meeting weekly sales targets and numbers. Not a great fit if your not a die-hard salesman. -The compensation structure is not overtly clear (though the FP splits were clear) for investments, and you are not allowed to contact the compensation team. I literally asked for a phone number or email, and was told I could not contact them. No questions. Period. -Because everything is sales based and I joined prior to understanding it was sales based, compensation was negative for me since I wasn't a great salesperson.



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