Waddell & Reed - Very independent work place, you fail and succeed on your own. | Glassdoor
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There are newer employer reviews for Waddell & Reed

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"Very independent work place, you fail and succeed on your own."

Star Star Star Star Star
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Financial Advisor
Current Employee - Financial Advisor
Doesn't Recommend
Approves of CEO

Pros

-Own Boss
-Good funds
-Strong home office

Cons

-No motivation
-Technology needs a huge update

Other Employee Reviews for Waddell & Reed

  1. "Disappointing experience as an FA."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    No opinion of CEO

    Pros

    Emphasis on use of financial planning, long history as a firm, neighborhood office location compared to the traditional urban wirehouse.

    Cons

    Disorganized at branch level, lack of coordination with home office, not sufficiently selective in hiring branch employees, which ultimately falls on the branch. Branches are too reliant on proprietary products.

    Advice to Management

    Provide more support to financial advisors, be more selective in hiring process of FA's and managers. Be more aware of actual activities and management of individual branches.


  2. Helpful (1)

    "Skip it and go straight to a wirehouse if you can. If not, this is a good Plan-B."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Entrepreneurial
    No salary cap
    Get your Series 7/66 and insurance licenses
    Ability to work here part time while you study for your exams

    Cons

    Be careful... You will get pressured into bringing your family and friends on board. You can't really survive in this biz on your current connections alone though. At some point you will have to "prospect" for clients. Don't fool yourself candidates, this is a sales job and nothing else.

    Also don't believe management's promises about assigning you "orphan accounts" or their statistics regarding retention ratios of first year advisors. It's all part of the sales pitch: they are selling you the dream.

    Advice to Management

    Where do I begin... Instead of pumping new recruits for their contacts, teach and encourage them to sell. It's like a comical revolving door of underqualified candidates.

There are newer employer reviews for Waddell & Reed
There are newer employer reviews for Waddell & Reed

See Most Recent

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