Waddell & Reed Reviews in Denver, CO | Glassdoor

Waddell & Reed Denver Reviews

Updated March 29, 2017
6 reviews

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Denver, CO Area

3.8
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Waddell & Reed CEO Philip Sanders
Philip Sanders
1 Rating

6 Employee Reviews

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Pros
  • Great work/life balance as you set your own schedule (in 14 reviews)

  • Recently upgraded technology with e-signature paperwork (Docupace), financial planning (E-Money), and investment tools (Morningstar & Envestnet) (in 18 reviews)

Cons
  • Unpaid, little to no hands on work, basically like sitting in classroom all summer long (in 11 reviews)

  • Building a book of business is definitely the biggest con (in 10 reviews)

More Pros and Cons

  1. Helpful (1)

    "Financial Advisor Position"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Denver, CO
    Current Employee - Financial Advisor in Denver, CO
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    - Create your own schedule/hours
    - Receive great training when you start your advising career and great ongoing support from office manager and company portal training resources.
    - Recently upgraded technology with e-signature paperwork (Docupace), financial planning (E-Money), and investment tools (Morningstar & Envestnet)
    - Higher payout than most other companies. You are a contractor, not an employee.
    - Broker for insurance and other products; lots of flexibility with what you can offer clients for products.

    Cons

    - Cannot wrap fees around all accounts (only if you are at a certain production level right now)...may be changing.
    - No specific/tangible track for progressing into management.
    - Medium-long waits when calling into the home office/advisor support right now because of the launch of the new technology.
    - No base salary or draw, all commission (which can be a good and bad thing)


  2. "Independent Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Financial Advisor Representative in Denver, CO
    Current Contractor - Financial Advisor Representative in Denver, CO
    Doesn't Recommend
    Neutral Outlook

    I have been working at Waddell & Reed as a contractor (Less than a year)

    Pros

    Flexible schedule, there is only one boss. She/he usually is nice to you.

    Cons

    Hard to find customers and build your book of business. Your salary is commission, so don't expect to earn in the first couple months.

    Advice to Management

    Please spend more time to teach and coach your agents to have enough knowledge to work.

  3. Helpful (3)

    "Waddell & Reed provides great guidance in a tough business"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Denver, CO
    Current Employee - Financial Advisor in Denver, CO
    Recommends
    Positive Outlook
    Approves of CEO

    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 Management

    Great job!


  4. "Great place to build your career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Denver, CO
    Current Employee - Financial Advisor in Denver, CO
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    low cost structure in office

    Cons

    Two separate platforms. Brokerage, proprietary


  5. "Great, if you already have experience and some money aside"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Classic Advisor in Denver, CO
    Current Employee - Classic Advisor in Denver, CO
    Doesn't Recommend
    Approves of CEO

    Pros

    Freedom to do what you want, when you want. If you are meeting your guidelines, nobody will be looking over your shoulder. If you plan to stay at it for long time, the potential for growth is tremendous.

    Cons

    Very little training or support from the beginning. Only commission based, which is extremely rough in the first couple years. Depends on the office, but there can be little or no help offered from other advisors; they may even see you as a threat.

    Advice to Management

    Pay for the licenses up front and offer some sort of base wage for at least a few months, even if it means that some sort of employment contract is involved.


  6. "Good start but not attractive in long-term"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Advisor Associate in Golden, CO
    Current Employee - Advisor Associate in Golden, CO
    Doesn't Recommend
    Approves of CEO

    Pros

    Work for yourself, time flexible, reward & contribution total depends on how much you want to work.
    great sales support.

    Cons

    have to make one million sales every year, hard to maintain.

    Advice to Management

    should give new advisors lower sales target and longer time.


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