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

Recommend to a friend
Approve of CEO
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. 1 person found this helpful  

    Great company with little advancement.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Finance Intern  in  Hartford, CT
    Former Employee - Finance Intern in Hartford, CT

    Pros

    Great culture, friendly employees, warm environment

    Cons

    Little room for advancement, compensation based

    Advice to ManagementAdvice

    Very helpful and friendly.

    Recommends
    Approves of CEO
  2. 1 person found this helpful  

    Entrepreneurial opportunity w/support

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

    Pros

    Respectable company that has been around a long time
    Organized training system
    Reasonable minimums to stay in good standing
    Freedom to own my book of business
    Much higher advisor payout than industry average

    Cons

    Not a W-2 position with base salary and expense account
    Technology could be better
    Low initial draw

    Advice to ManagementAdvice

    Upgrade technology and do more branding for W&R Advisors...not just Ivy Funds.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Very pleasant internship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Human Resources Intern  in  Pittsburgh, PA
    Former Employee - Human Resources Intern in Pittsburgh, PA

    Pros

    learned a great deal about human resources. didn't make coffee or anything like that. Seems like a great company to work for.

    Cons

    they were only hiring for financial advisor so i did not get offered a position at the end of the internship. everything else was fine

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Ma & Pop

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

    Pros

    Freedom to build and run your business the way you want. Unlimited upside potential. Marketing reimbursement available. Access to fund managers.

    Cons

    Small corporation, changes happen slowly and behind the times. Technology is a headache.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Excellent work environment

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

    Pros

    Access to great coworkers and learning new items

    Cons

    None it is a great place to work for

    Advice to ManagementAdvice

    None

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Difficult to get started

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

    Pros

    The people who work here are great people. The commission structure is generous but this is because there is no base salary. You are free to keep your clients.

    Cons

    Company does no national advertising. Training is lackluster. Zero base salary. No leads given to you. It's tough to entrust someone to invest with a company they've never heard of.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    None

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

    Pros

    good for new graduates student

    Cons

    need a lots license no benefit

    Doesn't Recommend
    Positive Outlook
  9.  

    Financial Advisor Associate

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

    Pros

    Sponsor for FINRA licenses - get your licenses and leave!

    Cons

    Everything! No investment in human capital. All licenses must be payed for with associate's own funds, as well as all office equipment - down to a pencil.
    "Sales Trainings" consist mostly of Whole-Seller's pitches as how to sell Annuities that W&R wants to peddle to clients.
    Management is micro-managing, unsupportive and not structured and small-minded.
    Check out the web...
    Also - watch your client-list!
    What a bunch of sour people.

    Advice to ManagementAdvice

    Do not treat FA's as if you paid them a salary!
    Each FA is your life-blood, without them, you would not have a purpose to manage - so be mindful about mandatory meetings for sales pitches.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10.  

    Reliable

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern  in  Fort Collins, CO
    Current Employee - Intern in Fort Collins, CO

    Pros

    Organized, and friendly place to work.

    Cons

    Too much paper work, and wasted paper. Should all be online.

    Advice to ManagementAdvice

    Integrate technology.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    Review

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst  in  Annapolis, MD
    Current Employee - Financial Analyst in Annapolis, MD

    Pros

    Training very good, happy with approach

    Cons

    100% commission is a great disadvantage

    Advice to ManagementAdvice

    Be honest to your employees

    Recommends
    Neutral Outlook
    Approves of CEO

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