Waddell & Reed

www.waddell.com

Waddell & Reed Reviews

Updated January 28, 2015
Updated January 28, 2015
186 Reviews
3.6
186 Reviews
Rating Trends

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

Review Highlights

Pros
  • Pioneers of financial planning and great lineup of mutual funds (in 22 reviews)

  • Focus on holistic financial planning (in 10 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 12 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 3 people 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

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

    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
  2. 2 people 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

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

    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
  3. 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

    I have been working at Waddell & Reed full-time

    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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  5. 1 person found this helpful  

    My experience at Waddell & Reed was exciting!

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

    I worked at Waddell & Reed as a contractor (less than a year)

    Pros

    Professionals who know there stuff.

    Cons

    You have to pay to take the exams yourself.

    Advice to ManagementAdvice

    Classes could give more hands on lessons.

    Recommends
    Positive Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    They care nothing about you as an employee

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

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

    Pros

    One 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.

    Cons

    Managers 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 ManagementAdvice

    Quit.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    I am a round hole and they are a square peg

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

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

    Pros

    Freedom and flexibility due to independent contractor status

    Cons

    The company has too many growing pains and they do not care about or understand the Financial Advisor culture.

    Advice to ManagementAdvice

    The Financial Advisor should be as important as an Ivy Funds shareholder. You would not treat Ivy Funds Shareholder's in the way that you treat the Financial Advisor.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8. 2 people found this helpful  

    Challenging

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

    I worked at Waddell & Reed full-time (more than a year)

    Pros

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

    Cons

    If 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 ManagementAdvice

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

    Doesn't Recommend
    No opinion of CEO
  9. 2 people found this helpful  

    Waddell & Reed provides great guidance in a tough business

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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)

    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 ManagementAdvice

    Great job!

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    Financial Advisor

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

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

    Pros

    Training, support and learned skills

    Cons

    No cons to this career

    Advice to ManagementAdvice

    Not applicable

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

    Financial advisor

    Former Employee - Financial Advisor in Los Angeles, CA
    Former Employee - Financial Advisor in Los Angeles, CA

    I worked at Waddell & Reed full-time (less than a year)

    Pros

    training program, big company,long history

    Cons

    only commission, no base pay

    Advice to ManagementAdvice

    just try it

    Doesn't Recommend
    Positive Outlook

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