Waddell & Reed

  www.waddell.com
  www.waddell.com

Waddell & Reed Reviews

Updated December 14, 2014
Updated December 14, 2014
175 Reviews
3.4
175 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Waddell & Reed President, CEO, and Director Hank Herrmann
Hank Herrmann
109 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.  

    Division Mgr

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Waddell & Reed

    Pros

    Great managing and Training Financial Planners

    Cons

    The recruiting Process needs to be more helpful to new recruits just coming in

    Advice to ManagementAdvice

    Hire folks that have a reserve of cash saved.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 4 people found this helpful  

    Difficult road to success as a new advisor.

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

    I worked at Waddell & Reed full-time

    Pros

    Freedom to make your own schedule. The company has solid mutual fund managers so the fund family has ranked quite high over the past several years. Conservative investment strategy which minimizes customer risk exposure.

    Cons

    Local Managing Principal was only concerned with teaching sales skills. He rarely talked about the company's products which made it really difficult as a new advisor. You are completely on your own regarding client acquisition so you need to have a lot of contacts in order to be successful. It is a commission only position. Lastly, the company's technology isn't very good, and is one of the worst in the industry regarding the amount of paperwork that needs to be done in order to add or transfer a client.

    Advice to ManagementAdvice

    Be sure that your Managing Principals are following the training curriculum. It's already difficult to succeed as a new advisor, but it makes it much worse if you're not properly trained. I didn't start feeling comfortable until about 6 months into actually selling product.

    Recommends
    Neutral Outlook
    Approves of CEO
  3.  

    Great company values

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Staff Accountant in Overland Park, KS
    Former Employee - Staff Accountant in Overland Park, KS

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

    Pros

    Lots of benefits, opportunities for growth and learning

    Cons

    Difficult work/life balance at times.

    Advice to ManagementAdvice

    More feedback and review process would be beneficial to growth.

    Recommends
    Positive Outlook
    Approves of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 3 people found this helpful  

    Terrible Company!

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

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

    Pros

    You can learn a lot of important life things about money.

    Cons

    They make you spend lots of money to have you go out and recruit your friends and family to sign up with no additional help. The training sucked this company is a sham

    Advice to ManagementAdvice

    be better

  6. 3 people found this helpful  

    i wanted to believe them and chose to blindly go through the training process

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

    I worked at Waddell & Reed

    Pros

    they sponsored me for my licenses....they were very nice and upbeat....their welcome packet was really stunning

    Cons

    all commission....i would have had to been so much more skeptical and read every little term/condition but instead i believed all of their half-truths....i wanted to believe the bologna they were shoveling in my direction....i was naive and young when i let them trick me

    Advice to ManagementAdvice

    i have never been in their shoes so i do not know what it is like to recruit FAs - and maybe they have to cast such a wide net that hopefully they can convince 1 out 10 young people to lock their friends and family in 3 year 12b1 nonsense....the turnover in the industry is so high that they must think that when these young FAs quit their family money will be trapped there....kinda shady

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Used and abused

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

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

    Pros

    Good mutual fund family to sell.

    Cons

    Not given an adequate opportunity to succeed. Only used for your contact information.

    Advice to ManagementAdvice

    Provide young new advisors with more of a chance.

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

    Ehhhhh

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

    I have been working at Waddell & Reed full-time

    Pros

    -good management. My supervisors were really attentive and did want me to succeed.

    Cons

    -didn't really tell me that it is all commission.
    - have to pay for your own licensing material, which can easily run over $1000

    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Good company but with multiple negatives

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

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

    Pros

    Waddell & Reed Mutual Funds are fantastic with great leadership at the flagship.

    Cons

    Captive brokerage platform with commission only pay structure focusing on sales rather than talent.

    Advice to ManagementAdvice

    There are too many poorly educated sales only focused advisors that give seasoned and edcuated advisors a bad name. Money gatherings is the only focus rather than solid good advice to clients. Open the platform to other mutual funds so that clients can have a broader array to choose from.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Enjoyable

    Current Employee - Financial Advisor
    Current Employee - Financial Advisor

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

    Pros

    Freedom to make your own schedule. Managers are usually available to help if an issue arises that needs special attention. Ability to make as much money as you want

    Cons

    Compensation is based soley on comissions. I didn't know that when I signed on to become a Financial Advisor. Wish there was some sort of base compensation to help get started.

    Advice to ManagementAdvice

    Limit number of new advisors that a manager can oversee. Their calendars fill up quickly and can be hard to get 1 on 1 training.

  11. 3 people found this helpful  

    Advisor

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

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

    Pros

    Enduring mutual Fund and nice people

    Cons

    Hard to survive the first year, 100% commission, pay yourself to get started

    Advice to ManagementAdvice

    Should give a base pay to get started

    Doesn't Recommend
    Disapproves of CEO

Work at Waddell & Reed? Share Your Experiences

Waddell & Reed

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.