Waddell & Reed - Nice.. | Glassdoor
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There are newer employer reviews for Waddell & Reed

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"Nice.."

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Fimancial Advisor Assistant in San Diego, CA
Former Employee - Fimancial Advisor Assistant in San Diego, CA
Recommends
Positive Outlook
Approves of CEO

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

Pros

A working directly for the financial advisor is a very good way too learn about the financial service business. If you are hired by someone who has been an advisor here for at least teen years, you will learn a highly ethical way of doing business with products that you can really help service clients.

Cons

Many of the newer hires seem to be Ameritrade former advisors. They seem to have a broiler room mentality. Pay is not great. There is no corporate award recognition, advancement our oversight for this position.

Advice to Management

Recognize assistants / associates for there contribution, contribute to their licensing efforts, provide company benefits. Assistants / associates are the initial and most frequent face clients see and voice that they hear, you want a very competent person who can cross sell in this job.Retention will demand ever increasing benefits pay and non sales advancement optiINS.

Other Employee Reviews for Waddell & Reed

  1. Helpful (7)

    "Prospect "trainees" beware"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor Trainee
    Former Employee - Financial Advisor Trainee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    The only pro about being a trainee there is the fact you can get your licensing.....for an abnormally large fee upfront that is.

    Cons

    My experience boils down to the fact that this company is not interested in training professionals but is more concerned on getting as many trainees in as possible. Management makes money this way and you will hopefully sooner than later become aware of what is really going on there. The manager where I took the trainee position pulled the wool over my eyes during my first interview quicker than one can blink and said things that ended up being one of those "read between the fine lines" type scenarios. For instance you WILL have to pay for absolutely everything and anything you do at Waddell & Reed they will reimburse you after some pretty convoluted conditions, charge you for every single office fee imaginable and on top of this take a large percentage of commission on accounts you bring to them. You are not recommending top of the line "competitive" products there. The fees are high for potential clients, Insurance absolutely non competitive ...the program you pay them for as a trainee is absolute hogwash! And you get little to no "hands on" training like they sell you on when you first interview. Overall my personal trainee experience with Waddell & Reed Advisors is one that leaves you poor and feeling "taken advantage" of " I have now taken myself elsewhere in the industry and am doing great.


  2. Helpful (3)

    "A huge company takes a bit of getting used to, but overall a great place to work."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Services Associate/Redemption/Maintenance in Overland Park, KS
    Current Employee - Client Services Associate/Redemption/Maintenance in Overland Park, KS
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    W&R offers really great benefits - healthcare, dental, flex plans, paid time off, Thrift/401(k) - all the goods. They're also really concerned with employee well-being and offer a lot of benefits through a program called Vitality. Lots of opportunities to give back to the community as well as maintain a healthy lifestyle. Blood donations on site regularly, Harvesters donations in the Fall, Light the Night Walk for the Leukemia/Lymphoma Society, and TONS of ways to get involved and meet people. Cafeteria is great, too!

    Cons

    This is/was my first job out of college so i wasn't expecting to be making top-dollar and doing glamorous work. Tax season is ROUGH when it comes to overtime in the Client Services department and training isn't the best. But if you're smart, you'll pick it up. Can be a high-stress environment and the weekly "report cards" that "grade" your productivity and quality can be daunting.

    Advice to Management

    Better procedure/training. Need more general knowledge about finances at the start of the job - felt like I was trying to read Chinese when I first started.

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

See Most Recent

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